In July, we alpacas still kept BUIDLing during the sideways market, as we continue to be laser-focused on developing Alpaca Finance as the most user-friendly and profitable DeFi platform. For one, we launched the AUSD3EPS staking feature, to allow stakers to access private Automated Vaults as per AIP-8. Alpaca Finance has also climbed in the the DeFi TVL ranking at DeFi llama to the 26th rank(from 30th last month).
We also introduced the Alpaca’s podcasts on Spotify where you can listen to Alpaca Fireside Chats from your phone with ease. On top of that, our Alpaca Gaming is moving on to the next step as we had our first AMA session for the community early this month.
Read below for details of our developments this month.
🏦 Automated Vaults
In July, we added the AUSD3EPS locked staking feature which will allow AUSD3EPS stakers to access private vault according to the AIP-8.1 and AIP-8.2. This means that there are now two ways to invest in high-leverage (>4x) Automated Vaults which are locking ALPACA in the Governance Vault and locking AUSD3EPS. The allocation amount each staker can deposit are based on the xALPACA and the AUSD3EPS balances each user has at the time of investment. Investors who had investments in the high-leverage vaults prior to this implementation can still farm in them. However, if they withdraw their investments, they’ll need to have sufficient xALPACA or AUSD3EPS to re-enter the private vault again.
We will continue to add additional low-leverage and high-leverage vaults as appropriate. Currently, we’re working on a new method of hedging to lower the cost of rebalancing in Automated Vaults, which also lowers the delta during imbalances even further. This should push the vaults toward higher profitability.
We also announced the Automated Vault Community Program, with instructions detailed here. Any community member can now submit an Automated Vault strategy to us. If the strategy is deemed safe and profitable after internal review, we will launch an Automated Vault using that strategy, while the creator of that strategy will earn some management fees. We hope the program will reveal creative strategies from our Herd members, while setting a new paradigm of community inclusiveness among DeFi protocols.
🔥 ALPACA Buyback&Burn
Each week, we share our revenue and ALPACA burn statistics on Twitter. In July, 1,416,552 ALPACA (~$352,550) was burned over 4 weeks, or an average of 354,138 ALPACA per week. The total cumulative burn is now ~24.1 million ALPACA (12.8% of total supply).
ALPACA has been deflationary for 31 of the last 38 weeks. 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.
🗽 Alpaca Governance
Any user can stake ALPACA into the Governance Vault to (1)earn a share of our platform’s revenue, (2)get Grazing Range rewards, (3)receive xALPACA to vote on Alpaca Improvement Proposals (AIPs), and (4)have private access to high leverage (>4x) Automated Vaults. Currently, users can earn 19.6% APY on the BNB Chain and 25.2% APY on Fantom.
In total, 49.3% of circulating ALPACA has been locked (up from 47.4% last month), and we have paid over >$2.6 Mn to ALPACA governance stakers. Read all about Alpaca Governance in our Part 1 and Part 2 Medium articles or visit our docs’ Governance section.
Users can also use the Early Withdrawal feature for the Governance Vault. The penalty for early withdrawal is 0.75% of the withdrawn amount per week of remaining locked time. More details explained here.
Alpaca Improvement Proposals (AIPs):
- AIP-9 voting has successfully passed. The community voted to deposit liquidation treasury funds into lending pools.
Grazing Ranges: Users who stake ALPACA in our Governance Vault can earn Grazing Range tokens. Grazing Range tokens are tokens of protocols we have a close partnership with (bold indicates new partners this month):
- 23,300 PSR (~$90k USD; from 6/30 to 8/25)
- 55,550 HIGH (~$90k USD; from 7/28 to 9/22)
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. In July, the PSR NFT became claimable on Project Galaxy. Details of each Grazing Range campaign are available on our Medium.
👨👨👧👦 Community Events
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 July, we had an AMA session with BingX community and give out some NFTs during the session. You can check your eligibility here.
📃 Platform & UI/UX Updates
We made several UX/UI improvements this month:
- Can adjust AUSD input fields with 0 wallet balance
- Updated links on Long/Neutral in Farm page
- Can link to token deposit pages directly without connecting wallet
- Updated tooltip links of AVs
- Show asset values in AV portfolio in native tokens (mBTCB->BTCB)
🎮 Alpaca Gaming
We released the first Alpaca Gaming Q&A session. In this session, we introduced our Principal Game Designer of Alpaca Gaming and the overview of our upcoming first Web3 game. Subsequently, we answered questions from users on many topics such as aspects of the game, defeating bots, the game’s marketplace, and community ownership.
Long story short, the team wants to build a sustainable game that’s interesting to non-web3 gamers and can potentially draw them in to learn more about web3, to take advantage of the existing, massive gaming industry. You can listen to the full Q&A session here.
👨👨👦 Twitter Spaces Fireside Chats and Podcasts
We released 3 podcasts in July. Listen to insightful thoughts on key blockchain developments from our team.
- 5th Snapshot Podcast — listen to Pete from Alpaca, and Alex, principal at Cursive Strategies, discussing DeFi and institutional finance.
- 22nd Fireside Chat (July 7th, 2022) — BlockFi acquisition, Voyager and its situation management, Retail sentiment, Comparison between CeFi and DeFi, the Development and Regulation Involvement of ETH layer 2, and Future trend.
- 23rd Fireside Chat (July 28th, 2022) —Voyager and FTX deal, Celsius Bankruptcy, Macro view on the market, New Layer 1 emerging, ZK sync/Starknet, SEC participation in crypto, Coinbase and Government intervention, and Coinbase’s insider trading.
We are distributing a % of Alpies sales to alpaca-related and wildlife/nature charities, as detailed in our Docs. Donated amounts in July include:
Donated $8,500 to TMMA Farms and Sanctuary, a rescue home for special needs alpaca and llama located in the North West corner of Georgia called Trion.
📰 Other News
In July, several Centralized Crypto Exchange have listed $ALPACA on their platforms:
- Biconomy, an exchange with licenses in the US and Canadian markets
- BingX, an easy-to-use crypto social trading exchange
- Bit2me, a leading crypto suite in Spain and LATAM
The Alpies NFT collection is now available to deposit and trade on Binance NFT — https://twitter.com/TheBinanceNFT/status/1548084448112955394
Ape Board, a leading multi-chain DeFi dashboard, now shows collateral locked for AUSD — https://twitter.com/ape_board/status/1541757718293188608
Alpaca Finance is considered as the most active protocol on the Notification app according to the case study by Defi.org — https://twitter.com/DefiOrg/status/1547499118850875392
Pandora, our recent Grazing Range partner, gave out the Alpaca Finance limited-edition NFT to the top Alpies holders — https://twitter.com/Pandora_DEX/status/1548254334344839170
BSC News made a featured article introducing Alpaca Finance’s Bear Market Strategy — https://twitter.com/BSCNews/status/1551719023695609856
We greatly value our users’ feedback, which you can give at: https://docs.google.com/forms/d/1QGY4wJUvYdYWe6TQn460m0A7H07xMUcBGEnU-pUXyg4/viewform?ts=61e8ce4e&edit_requested=true
We will continue to build and meet the list of goals detailed on our roadmap. The immediate updates that you can look forward to include Automated Vault improvements, new types of Automated Vaults, and Alpaca Gaming releases.
We announce updates on our Twitter first, so follow us and be the first to know!