October 2022 Recap
In October, we alpacas carried on with the AV repurchasing pilot by adding the 8x BNB Savings Vault, which has since shown a consistent return. The repurchase method on the first two vaults (3x Market Neutral and 3x BNB Savings Vault) has also proven successful. We are now ready to rollout repurchasing to other Vaults. You can read the details of the rollout plan here.
This month, we published five Institutional Newsletters where you can read the summary of major headlines in the crypto market related to regulations, products, and funding. We publish these newsletters every week. You can check out this month’s editions here: Edition 7, Edition 8, Edition 9, Edition 10 and Edition 11.
Read below for the details of our developments this month.
🌾New Lending Pools and Farms
As part of the PSTAKE Grazing Range partnership extension, leveraged yield farmers in the stkBNB-BNB pool will be able to receive 85k+ USD bonus in PSTAKE and ALPACA rewards, on top of the leveraged yield farming rewards and trading fees. You can read more here.
Also, as the recent Grazing Range campaign comes to an end, leveraged yield farmers on STKBNB-BNB and pSTAKE-BUSD during the applicable period are now able to claim PSTAKE bonus rewards here. You can read more details about that in this article.
🏦 Automated Vaults
In October, we continued piloting the repurchasing method. An 8x BNB Savings Vault (L8x-USDTBNB-PCS1) is now part of the pilot program.
You can see from the figure above that since the start of the repurchasing method, the vault’s performance has been more consistent and has been returning 7%+ APR over the last month until the recent crash, and has bounced back nicely due to repurchasing & hedging even during the recent crash.
We are now rolling out the implementation onto the remaining vaults. You can read more here.
🔥 ALPACA Buyback&Burn
Each week, we share our revenue and ALPACA buyback & burn statistics on Twitter. In October, a total of 1,324,440 ALPACA (~$387,800) was burned over 4 weeks, or an average of 264,888 ALPACA per week. The total cumulative burn is now ~27.9 million ALPACA (14.9% of total supply).
ALPACA has been deflationary for 44 of the last 51 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 in the Governance Vault to (1)earn a share of our platform’s revenue, (2)earn ALPACA emission rewards, (3)get Grazing Range rewards, (4)receive xALPACA to vote on Alpaca Improvement Proposals (AIPs), and (5)have private access to high leverage (>4x) Automated Vaults. Currently, users can earn 12.9% APY on the BNB Chain and 13.4% APY on Fantom.
In total, 51.4% of circulating ALPACA has been locked, and we have paid over >$3.3 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 now 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).
Alpaca Improvement Proposals (AIPs):
- AIP-10 voting has successfully passed. The community voted to adjust the interest rate model.
For those who participated in voting, the NFT for AIP-10 is 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 protocols we have partnered with (bold indicates new partners this month):
- 436,700 PSTAKE (~$60k USD; from 10/6 to 12/1)
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. 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!
Alpaca of the Month
Congratulations to the community members — jackyjune, RotAileDao, tc199292, and SilverHim777 — for winning Alpaca of the Month for October! They received these great custom avatars from @MerZair:
To win Alpaca of the Month, just be active in our Discord or Telegram, helping other users or contributing to the community. Details are here.
👨👨👦 Twitter Spaces Fireside Chats and Podcasts
We released 3podcasts in September. Listen to insightful thoughts on key blockchain developments with our Head of Strategy and Marketing Sam and our Head of Institutional Growth Pete:
- 6th Snapshot Podcast — listen to Pete from Alpaca and Kevin, Partner Growth Manager at BNB Chain, discussing about DeFi.
- 28th Fireside Chat (October 5th, 2022) — Market Condition, Oki DAO’s regulation control, crypto influencers, Credit Suisse, and Solana major downtime.
- 29th Fireside Chat (October 19th, 2022) — Aptos airdrop, Cosmos, crypto enforcements, upcoming regulation, ETHcentralization, and hacks on Binance.
📰 Other News
In October, Bit Hotel, our Grazing Range partner, gave out Alpaca NFTs and a unique invite code to play Bit Hotel’s game to Alpies & xALPACA holders for free — https://twitter.com/AlpacaFinance/status/1578392610892402688/photo/1
SwissBorg, the democratizing wealth management app, launched an Alpaca Finance strategy on its application — https://twitter.com/swissborg/status/1572485811899187200
Alpaca Finance was invited to speak about Leveraged Yield Farming by CoinStats, the top crypto portfolio manager — https://twitter.com/coinstats/status/1582051045022531590
Alpaca Finance was invited to a weekly Defi discussion by BNB Chain — https://twitter.com/BNBCHAIN/status/1586311890380025856
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 and meet the list of goals detailed on our roadmap. The upcoming updates that you can look forward to include updates on our Alpaca Perpetual Swap product, a full rollout of the Repurchase Strategy on AV, and Alpaca Gaming updates.
We announce updates on our Twitter first, so follow us to be the first to know!
