Alpaca Finance - Alpaca News

April 2022 Recap

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In April, we alpacas shrugged off the bear market, as we continue to be laser-focused on developing Alpaca Finance as the most user-friendly and profitable DeFi platform. Of note, our Automated Vaults reached over $150Mn TVL in a little over one month, a very rapid increase that didn’t rely on token incentive rewards. In particular, the 8x vaults were oversubscribed within minutes of release, and going forward, we will continue launching new vaults and additional capacity gradually.

In addition, this month, we added several more farms (including integrating a new DEX — BiSwap) and three more Automated Vaults. We improved the UI, completed votes for 3 new Alpaca Improvement Proposals (AIPs), and hosted several community events.

We integrated a new DEX on our BNB Chain platform — BiSwap! We are now integrated with all top three DEXes on the BNB Chain.

We also added 2 new farms on BNB Chain and 1 new farm on Fantom:

  • BNB-BSW (3x BiSwap) on BNB Chain: earning 434%+ APY
  • BNB-USDT (3x BiSwap) on BNB Chain, earning 28%+ APY
  • BOO-USDC (3x) on Fantom, earning 317%+ APY

The liquidation threshold for BUSD-ALPACA was also changed from 70% to 83.33%, which decreases the chances of liquidation significantly.

We will continue to add new farms with our existing DEX partners (PancakeSwap, MDEX, BiSwap, SpookySwap) and future ones too.

We launched three more Market-Neutral Automated Vaults this month — BNB-BUSD (3x), BNB-USDT (3x), and USDC-FTM (3x), which quickly reached the capacity limit, $57Mn in TVL. In total, our Automated Vaults have reached $150Mn in TVL! And all this is generating revenue for the platform and ALPACA holders.

In these vaults, you can deposit stablecoins to earn 30–60% APY, which are the highest stable, market-neutral yields in all of DeFi. At times, yields may fluctuate depending on borrowing rates and market volatility, but we have published extensive backtests illustrating these strategies are profitable in the long run.

If you click “Invest” next to each Automated Vault, you can now see their P/L performance (example shown below).

This month, we also released an in-depth article on the security of our Automated Vaults, which you can read here. A community member also released a great instructional YouTube video introducing Automated Vaults. Finally, we gave out an NFT for those who participated in our Automated Vaults.


Each week, we share our revenue and burn statistics on Twitter. In April, we burned 481,552 ALPACA (~$283,800) over 4 weeks. The total cumulative burn is now 18.9 million ALPACA (10.1% of total supply).

ALPACA has been deflationary for 17 of the last 24 weeks. You can visit Dune Analytics to see the positive trend in ALPACA’s deflationary tokenomics. We hope to again refer our readers to this article by a community member, explaining ALPACA’s deflationary nature and how it will lead to a natural rise of the ALPACA token’s price over time.


Any user can stake ALPACA into the Governance Vault to (1) earn a share of our platform’s revenue, (2)get Grazing Range rewards, and (3)receive xALPACA to vote on Alpaca Improvement Proposals (AIPs). Currently, users can earn 54% APY on Fantom and 36% on BNB Chain. Soon, xALPACA holders will also have private access to high leverage(>4x) Automated Vaults.

In total, 40.6% of circulating ALPACA has been locked (up from 36.5% last month). Read all about Alpaca Governance in our Part 1 and Part 2 Medium articles or visit our docs’ Governance section.

Alpaca Improvement Proposals (AIPs):

  • AIP-4.1 and AIP-4.2 (handling of WaultSwap funds) have been executed. All remaining 106 WaultSwap positions have been closed and the remaining equity returned to the position owners. A total of 12,088.27 USDT was repaid to the lending vault.
  • AIP-5 (interest model adjustment) passed to allow adjusting the interest rate model to increase Automated Vault capacity and lending APRs.
  • AIP-6.1 and AIP-6.2 (limiting access to Automated Vaults to xALPACA holders) have been voted on and passed.

For those who participated in voting, NFTs for AIP-4.1, AIP-4.2, AIP-5, AIP-6.1, and AIP-6.2 are now available to claim on Galaxy. Visit our Governance Forum to read about, discuss, and vote on these AIPs.

Grazing Ranges: Users who stake ALPACA in our Governance Vault can earn Grazing Range tokens. Grazing Range tokens are tokens of our partners — Biswap (BSW), Highstreet (HIGH), X World Games (XWG), and DEAPcoin (DEP). ALPACA stakers are currently earning:

  • 187,813 BSW (~225k USD; from 4/28 to 6/23)
  • 23,437.5 HIGH (~$218k USD)
  • 2,594,000 DEP (~$80k USD; from 3/17 to 5/12)
  • 3,879,300 XWG (~$225k USD; from 3/17 to 5/12).

Users who stake at least 500/5000/50,000 xALPACA (3 tiers) during the first 4 weeks of a Grazing Range campaign can earn a Grazing Range NFT. This month, the XWG and DEP NFTs are now claimable on Project Galaxy. Details of each Grazing Range campaign are available on our Medium.

We host several community events each month, where users can earn NFTs, community badges, and tokens. We make these events easy to participate in, so spend a few minutes to claim these rewards!

In April, we hosted an Alpaca Content Contest for a $1000 ALPACA prize, and many Herd members participated, creating threads and videos they shared on social media to grow the Herd.

Congratulations to the community members — @YYminer (andy), @zzjika123 (Jika Bsc), @MB_Abu (AlpacaMosh), @Qiumi (Qmi), and lyria#3727 (Lyria) — for winning Alpaca of the Month for March!

We gave them these custom Alpaca avatars:


Each month, we choose 1–5 people for the Alpaca of the Month award. They receive their own custom-designed Alpaca avatars. To win, just be active in our Discord or Telegram, helping other users or contributing to the community. Our Mods will then select winners each month. Details are here.

We launched a Meme Contest, where the top memes won ALPACA , an exclusive NFT, and the “Memepaca” Discord role.

Anyone can earn this NFT and the Frenpaca status badge — just simply help out in the community and fill out the form in this article, which further explains what is a Frenpaca. The Frenpaca NFT can now be claimed on Galaxy.

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This month, we released the in-app calculator! Just click the Simulator button at the bottom of the Farm page when opening an LYF position to see how your profits would change on various price moves.

A few other platform improvements:

  • Added long/short exposure on Farm open position
  • Gov vault APR now includes AV income
  • Connect wallet module now has link to DL Metamask
  • AV Portfolio page shows APY
  • Added “no liquidation” to AV descriptions
  • AV Invest button grayed out at capacity
  • Added FAQ on Automated Vaults
  • On Portfolio page, you can now sort LYF positions by Safety Buffer & Debt Ratio(must disable PnL)
  • Added capacity buffer calculation to lessen the likelihood to get “max cap exceeded” error when investing in Automated Vaults
  • Updated landing page TVL as cross-chain
  • Formatted decimal digit & APR/APY on Grazing Ranges
  • Added auto-switching network on Gov page
  • Added Cost Basis and Profit/Loss on Automated Vault Portfolio page

We released an LYF Pro Tip article on how to minimize price impact . We suggest you follow these instructions when opening large positions.


Listen to insightful thoughts on key blockchain developments with our Head of Business Development James, our Head of Strategy and Marketing Sam, and our Head of Institutional Growth Pete:

16th Fireside Chat (April 7, 2022) — opinions on the market, Terra’s BTC buy, algo stablecoins, recent DeFi attacks, fintech-crypto integration, Automated Vaults, Alpies game studio

17th Fireside Chat (April 21, 2022) — algo stablecoins, Web3/Metaverse, new token standards, regulation, lawsuit against Uniswap, L2 battle, Alpies, Automated Vaults, xAlpaca

Cryptopacas Episode 4 — listen to James and Pete discuss the hottest trends in crypto

We greatly value our users’ feedback, which you can give at:

We will continue to build and meet the list of goals detailed on our roadmap. A few particularly exciting updates to look forward to include our GameFi developments, our continued efforts to integrate new farms, particularly from BiSwap, and the continued expansion of our Automated Vaults. Soon, we’ll launch our new type of Automated Vaults — Savings Vaults.

Updates will be first announced on our Twitter, so follow us and be the first to know!

April 2022 Recap was originally published in
Alpaca Finance
on Medium.

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