July 2024 Recap
Last month, we published five Institutional Newsletters where you can read the summary of major headlines in the crypto market related to regulation, products, and fundraising. We publish these newsletters every week. You can check out this month’s editions here: Edition 90, Edition 91, Edition 92, Edition 93, and Edition 94.
Read below for more details of our developments this month.
💸Stablecoin Initiative
We are making good progress with the stablecoin initiative. All the smart contract works have been completed and we plan to start deploying on Botanix’s testnet for testing this month. With Botanix’s mainnet tentatively going live in mid — late September, we should be able to sync our launch right around the same time. We will have more updates as we get closer to the launch date.
💎 AF 2.0
In July, Alpaca Finance 2.0’s Money Market generated ~$44k in interest revenue, reaching a total cumulative revenue of ~$581k.
You can monitor the AF2.0 Money Market through our Dune page here.
📈 Perpetual Futures Exchange
In July, Alperp generated a trading volume of over $8 million, reaching a cumulative trading volume of $628 million since launch.
You can always check our in-house Stats page to see Alperp’s performance and can also download the data here.
🔥 ALPACA Buyback&Burn
Each week, we share our revenue and ALPACA burn statistics on X (previously Twitter). In July, 72,552 ALPACA (~$9,000) was burned over 4 weeks. The total cumulative burn is now ~34.3 million ALPACA (18.28% of total supply).
ALPACA has been deflationary for 124 of the last 134 weeks. As per the ALPACA emissions schedule, the ALPACA token is now guaranteed to be fully deflationary as ALPACA emissions & rewards are now officially finished. We added extensive details on burn and various sources of burn on our Docs here. On top of that, 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 in 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).
In total, 24.9% of circulating ALPACA has been locked, and we have paid over >$4.1 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.
Our Discord has a private channel for xALPACA holders where governance members can discuss topics and discover/share alpha. There is a bot automating membership and the minimum required to gain entry is 100 xALPACA in a wallet. From time to time, we do special airdrops from partners (i.e. NFTs) in this channel to xALPACA holders and also Alpies holders (in their respective private channels). You can also bring up any Governance topics for discussion in our Forum.
📰 Other News
In July, Chain Broker, an on-chain deep insights twitter account, mentioned Alpaca Finance in an evaluation of top $20M- $30M market cap projects.
https://x.com/chain_broker/status/1813921785135460835
Feedback
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
Next Steps
We will continue to build. The upcoming updates that you can look forward to include news on the stablecoin.
We announce updates on our Twitter first, so follow us to be the first to know!
Follow this medium account to get notified when we release more of this newsletter. To learn more about Alpaca Finance, you can visit our official communication channels:
