Bittawm Defi Platform Review - Alpaca Finance - https://www.alpacafinance.org/

[bittawm]

I am an advocate for Defi and disruptive tech, for some insight go here:

Bittawm's Intro to Liquidity "Mining." The new most profitable form of mining?:
https://bitcointalk.org/index.php?topic=5349340.msg57463821#msg57463821






Now I present to you a true gem! The Alpaca Finance Defi Platform


Platform Name: Alpaca Finance
Native Token: Alpaca Finance Token : https://coinmarketcap.com/currencies/alpaca-finance/
Chain: Binance Smart Chain (BSC)
Telegram: https://t.me/alpacafinance (english)
Docs and Tokenomics: https://docs.alpacafinance.org/
Website: https://www.alpacafinance.org/


What makes this Platform Special:


-This Platform is super safe!  IMPORTANT!
Alpaca finance has close to $1,000,000,000.00 in total value locked in the protocol (Yes you read that right.......... $1 Billion).
This Platform has never suffered an exploit or Hack
There are no known bugs with the platform that jeopardize users funds
I have personally had a large sums of crypto with this platform and I consider it one of the safest I have ever found.
9 Audits across multiple services: https://docs.alpacafinance.org/transparency



 




-Lending and Staking
[lending] Lend your ALPACA, BNB, BUSD, USDT, TUSD, BTC, ETH and get Interest-Bearing Tokens (ibtokens). (for example stake BNB and get ibBNB)
[staking] Stake your ib tokens to get even more returns!
Currently I am enjoying lending and Staking BNB for a juicy 23.93% APY






-LYF FARMING (Leveraged Yield Farming)..................the true magic of the platform
Alpaca finance is the largest Leveraged Yield Farming platform on the Binance Smart Chain.
This exciting feature gives users many more strategies over traditional yield farms.
It essentially gives users the ability to short / long different assets with less capital. Let me explain:
Users pick which LP pair they want to yield farm with, they then choose which asset they want to borrow out of the LP pair, when the assets borrowed decreases in value then it becomes cheaper to pay back.

One of the statements I frequently hear is that yield farming is not profitable in a bear market. This is totally not true when it comes to Alpaca finance. The following strategies can be adopted during a bear market:
Yield farm with stablecoins (currently earning between 20-30% APY). If you believe in the USDT being under collateralized then yield farm with BUSD/USDT borrowing the USDT, if USDT crashes then it will become super cheap to pay back meaning you will make some pretty hefty gains. If USDT does not crash then you still make the 20-30% APY

Alpaca also offers other stablecoin farms: USDC-USDT, TUSD-BUSD, etc. By using leverage on stablecoin farms, you can get much higher yields on stablecoins than Aave, Celsius, or any other DeFi platform. Their business model is quite ingenious.

Another strategy to adopt in a bear market would be to short an asset you believe will drop in value. For example if you believe ETH is going to drop, then put stablecoins into the yield farm borrowing ETH to pair with the stable coin with. When ETH drops it becomes cheaper to pay back and therefore you are essentially shorting ETH

there are many more strategies users can adopt to maximize gains vs normal yield farms






-NFTs / Art / Telegram:
The team can be contacted easily and is actively engaging with the community
Alpaca Finance have some great artists behind them, they are releasing some pretty cool NFTs awarded to users for engaging with their platform.
Take a look here: https://galaxy.eco/alpacafinance
The team has also created some of the best telegram stickers I have ever seen, there are hundreds of them and they are quite humorous.
Here is a sample of the NFTs available:

                   


Conclusion:

I believe the Alpaca Finance Platform to be extremely safe. I have trusted them with my own funds and will continue to use and support the platform.
I have seen the ingenuity and integrity of the developers. I was using their platform before Leveraged Yield Farming was launched and many doubted that they were going produce a working Leveraged Yield Farming platform.
I believe their protocol will empower farmers to employ new strategies unavailable on other farms
Always do your own research, I am not a financial adviser, there are always risks associated with defi platforms, I see this risk as being low but there is always a risk. Never invest what you cannot afford to lose.

Enjoy the profits!

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[kxwhalexk]

I have also invested in this project.

At that time, friends around me were very optimistic about it, but I found that this project is not suitable for holding, but for people with large funds to play. The high returns of leveraged mining are not available to people with small capital.

No matter how small the leverage is, there is a risk of forced liquidation.

If you borrow alpaca to dig alpaca, there will be a risk of forced liquidation if the price of alpaca drops. But the alpaca you dug up has to be sold, because even if you don't sell it, other people will sell it. If you don’t sell it in time, your profit will decrease. So in the end, it’s yourself that makes you liquidate.

[bittawm]

Whether you have large or small capital, getting 23% APY on leveraged farming stablecoins is pretty profitable relative to real world money markets, government bonds, and AAA bonds. Leverage farming stablecoins (at max leverage levels) is safe. Essentially, you are just borrowing USDT/BUSD/TUSD from lenders and providing it as liquidity to DEX platforms. These lenders don't  farm on DEXes for various reasons (lazy, inconvenient, don't want exposure to other stablecoins, etc.). The 23% APY already factors in borrowing interests and is the net APY you are earning.

If you borrow alpaca to dig alpaca, there will be a risk of forced liquidation if the price of alpaca drops. But the alpaca you dug up has to be sold, because even if you don't sell it, other people will sell it. If you don’t sell it in time, your profit will decrease. So in the end, it’s yourself that makes you liquidate.

- Actually, the opposite is true. If you farm the BUSD-ALPACA pair and borrow ALPACA, you are not exposed to ALPACA price movements. If ALPACA drops, just return back your borrowed ALPACA. Your BUSD equity doesn't suffer. You are simply earning yields (aka mining). There could be some impermanent loss (IL), but it's a fairly complex subject and this loss is minimal (earned yields generally cover IL).

[DapanasFruit]

This is a good review of Alpaca Finance. I have to admit that I am not fully into farming for the very reason that my first experience turned out to be a big dud leading me to conclude that I was just scammed. Now, I find your review here really refreshing in the sense that it comes from your own real-world experience and not from other people. The concern on security is a big and perennial one considering the many DeFi platforms that got hacked for the past many months which can jeopardize the funds of the investors. I am glad to see that the team of Alpaca is 100% serious on security or hacking threats as the network is growing. With more than a billion dollar TVL, I am sure that hackers are constantly looking at Alpaca as a target.

[bittawm]

TVL is at $1.25 Billion currently.

This incredible project is here to stay.

this last move in the markets has really helped my leveraged positions

 

[bittawm]

BUSD-USDT is currently at 36% APR.

Pretty incredible

[bittawm]

The alpaca token has doubled in value since my review.

TVL is at 1.5 Billion.

[bittawm]

Step-by-step guide on how to leverage farm stablecoins on Alpaca Finance

1. Register a MetaMask account

     A.     Download Metamask for Chrome on https://metamask.io/ (you need to be using Chrome or Brave browser)

     B.     Follow the instructions to create a wallet, create a password, and write down your Secret Backup Phrase.

2. Add the Binance Smart Chain (BSC) network to your MetaMask

     A.     Follow instructions here: https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain

3. Deposit some BNB (e.g., 0.01 BNB) and stablecoins (e.g., USDT, BUSD, USDC, TUSD) into your MetaMask wallet. BNB is needed to conduct transactions, which costs ~$0.10 each. You can do this through several ways:

     A.     Via Binance. Register a Binance account (this may take several days to weeks). Deposit fiat (e.g., USD) from your bank into your Binance account. The USD is automatically converted to BUSD. Buy BNB on the exchange. Transfer the BNB and BUSD from Binance to your MetaMask address (more info here: https://crypto-explained.com/services/send-bnb-coin-to-binance-smart-chain-on-metamask)

     B.     Via a bridge from another blockchain, such as Ethereum or Polygon. If you used Ethereum or Polygon, we’ll assume you know what to do.

     C.    Via any other platform that supports BSC. There are numerous fiat onramp platforms. These platforms need to support BSC integration for you to transfer stablecoins or other tokens to your MetaMask address.

4. Go to Alpaca Finance and open a stablecoin-stablecoin farm, following this step-by-step guide: https://docs.alpacafinance.org/our-protocol-1/step-by-step-guide/farm. Alpaca currently offers several stablecoin-stablecoin farms using BUSD, USDT, TUSD, USDC, UST, and VAI. Farm at maximum leverage to gain the most yield.



5. Sit back and enjoy earning 10-40% interest on your stablecoins

[bittawm]

jump onboard people!

[bittawm]

dont sleep on this project!

[bittawm]

ALPACA HAS JUST BEEN LISTED ON BINANCE!