Update on ALPA Staking and Burn

Yesterday, we announced in Discord and Wechat community that we have been considering replacing Staking feature with a token burning model. After exchanging ideas with many community members, we decided to go with this Burn model. This change will be released on November 11th, 7pm PST. Here is what you need to know.

What’s the change?

Starting on November 11th, 7pm PST, staking feature will be deprecated. Afterwards, 90% of breeding fees will be burned instead of redistributing to stake holders.

What do you need to do?

Nothing for now. Breeding fees will still be distributed until November 11th, 7pm PST. After that, you can go to our staking page to withdraw you staked tokens along with the staking rewards. All funds will be safe and there is no deadline for the withdraw. Please do not stake in ALPA after November 11th, 7pm PST since no reward will be sent out afterwards.

Why do we make this change?

1. Burn is a better model for ecosystem and token value in the long term. It is more direct way to fight inflation.
2. Staking is better for whales than most players. For whales, they can stake in a large amount of ALPA and basically get a big discount on breeding fees. Eventually, staking will tilt the game to be friendlier to whales and this is what we don’t want to see as we have more players onboard.
3. Currently with the farm incentive, more than 63.69% of circulating ALPA is already in the Uniswap liquidity pool. Many people have transferred their ALPA from staking to Uniswap LP for higher yield. We feel like farm gives enough incentive for token holders to stake in ALPA and staking is not as essential anymore.

How will we handle the burn?

Our ALPA token smart contract design does not allow burning tokens or transferring tokens to the zero address. Because of this, we will send all tokens that need to be burned to a dedicated smart contract that’s not controlled by anyone. We will open source that smart contract and share the address for everyone to check how much we’ve burned. We know this is not a traditional “burn” but this method does the same to take tokens out of the circulating supply.

Have other questions?

Join our channels to learn more:

• Alpaca City Center (Homepage) — https://alpaca.city
• Marketplace (Open Sea) — https://opensea.io/collection/alpacacity
• Alpaca City Hall (Discord) — https://discord.io/AlpacaCity
• Alpa Local Radio (Twitter) — https://twitter.com/CityAlpaca
• Community Center (Telegram) — https://t.me/AlpacaCity
• Bulletin Board (Medium) — https://medium.com/AlpacaCity
• Alpaca Gallery (Instagram) — https://instagram.com/CityAlpaca
• Alpaca City Digest (Newsletter) — https://alpaca.substack.com/
• The Alpaca Public Library (Github) — https://github.com/AlpacaCity