Q1 2022 Roadmap Update: USDC Lending Vault, In-app Calculator & More

This post was originally published on Alpaca Finance

Dear alpacas,

We’re thrilled to bring you this roadmap update, which includes several new major features.

Before getting to those though, here’s an update on the initiatives from our greater roadmap that will be arriving first:

  • Continuing to roll out AUSD features. More collateral pools coming this week.
  • Further performance improvements
  • BSC<>ETH bridge for Alpies: Though the max leverage increase will be more impactful, that feature is quite complex to implement, whereas the bridge is much easier. So we decided to implement the bridge first.

Then, there are the new additions to the Q1 roadmap. For one, we plan to launch a USDC Lending Pool and new farming pairs. USDC borrowing will be very cheap to start, so there will be initial high APYs on new Pancakeswap pairs like USDT-USDC(USDC borrowing) and ETH-USDC. In the future, we’ll add more pairs as well.

💲Benefits to USDC lenders:

  • As USDC lenders, you’ll earn interest from borrowed USDC. The lending interest will vary between 0% — 150% APR (equaling 0% — 348% APY compounded continuously), based on the pool’s utilization level. You can learn more about our interest rate model here.
  • You’ll also be able to receive ALPACA rewards by staking ibUSDC (which you’ll get after depositing USDC) on the Stake page. We’ll be allocating 50 reward points (~9,300 ALPACA/week based on current emission rate) to ibUSDC stakers.
  • You’ll be able to stake ibUSDC as collateral to borrow AUSD —an auto-farming stablecoin that earns passive yields for you in the background. Now, instead of paying for loans, you can get loans while earning on your ibUSDC collateral. You can learn more about AUSD here.

💲Benefits to USDC borrowers:

  • By farming USDC pairs, you’ll receive Yield Farming rewards and Trading Fees from the underlying DEX.
  • By borrowing USDC to leveraged farm single-asset pools, you’ll receive higher Yield Farming rewards from the underlying pool.
  • If you leveraged yield farm above 1x, you’ll receive ALPACA rewards as well. We’ll be allocating 10 reward points (~1,900 ALPACA / week based on current emission rate) to leveraged farmers who borrow USDC.

⏰Release Timeline

Thursday, January 13th, 2022

  • 7 AM UTC: USDC deposit vault & USDC staking — you’ll be able to start depositing your USDC on our Lend Page and stake your ibUSDC(which you’ll get after depositing TUSD) for ALPACA rewards on the Stake Page.
  • 10 AM UTC: ETH-USDC leveraged farming pool — you’ll be able to start opening leveraged positions borrowing USDC and ETH on the ETH-USDC pair on our Farm page.

Tuesday, January 18th, 2022

  • 10 AM UTC: Borrow USDC for CAKE Syrup pool — you’ll be able to start opening leveraged positions borrowing TUSD for farming the CAKE syrup pool on our Farm page.
  • 10 AM UTC: USDT-USDC leveraged farming pool — you’ll be able to start opening leveraged positions borrowing USDC on the USDT-USDC pair on our Farm page.

💲In-app Calculator

Many of you have probably already used our Yield Farming Calculator and Emulator. After all, we were the first leveraged yield farming platform to have these. (Shout-out to Herd member Joe for the emulator. Big *hums*)

Based on user suggestions, we’ve decided to include the above emulator within our app. When you open or adjust positions, it will show you a customized graph of your expected equity after different price movements, as well as other useful data.


Game Update

Finally, a brief update on the game. As some of you know, we’ve been in discussions with multiple game dev studios since Q4 last year. We also designed a detailed game concept, down to low-level details, and are currently hiring world-class game design talent to further refine the game in-house. Our goal is to build a high-quality game that will bring in not only the play-to-earn crowd but also normal players who like a deep competitive game.

We don’t want to rush something to market that will only rely on unsustainable token rewards. Building a high-quality game takes time and patience, design and testing and redesign, late-night grass pizzas and Redbull infused all-nighters.

Without serious time investment into design and planning, in the industry of blockchain gaming that will only get more competitive every year from now on, the prospects aren’t too green. It hasn’t been a year since Axie exploded but Coingecko is already littered with the corpses of P2E games that rushed to market like mindless sprinting zombies, only to realize they were running off a high story building, whizzing their way to the ground until they soon completed their moon-to-doom high-arc curves as their token holders’ heard the SPLAT of everyone’s dreams simultaneously smashing into the pavement of economics…

To avoid this grim fate of becoming a zom-B-Game, the only way is to build a sturdy shelter, by taking time to test and balance our ideas, game mechanics, and token economies. So please respect the process and support us as we do things the right way.

We’ll update you on the status of the game later this quarter, and will start releasing more info and doing active marketing as we approach a beta launch.

Regarding additional major features on the roadmap which are targeted around the end of this quarter, an institutional platform and cross-chain, we’re steadily moving towards launching those. There are also one or two other major product ideas which we’ll update you on in the coming weeks.

Thank you everyone. We’ll release more articles very soon. For now, let’s build our future together so we don’t have to eternally scavenge for grass on the road.

Q1 2022 Roadmap Update: USDC Lending Vault, In-app Calculator & More was originally published in Alpaca Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.

Leave a Comment