Alpaca Finance Turns on Automation, Powered by Gelato
Known for their intelligence and friendliness, Alpaca Finance channels its namesakes by helping lenders earn higher yields in a safe and stable environment, and by offering borrowers undercollateralized loans for yield farming.
Since launching in March 2021, Alpaca has quickly grown into one of the largest DeFi lending protocols on the BNB Chain and Fantom network, with $500 million in TVL.
Part of Alpaca’s success is due to the way they have improved the user experience of DeFi platforms by offering leveraged farming options and allowing users to leverage automated vaults to protect their staking returns, minimizing the risk of users losing their original staked assets.
Even still, distributing rewards through Alpaca can be a daunting task- that’s where Gelato comes in. With Gelato Alpaca can “feed their grass house” and sit back while Gelato automatically distributes tokens to their vaults to monitor positions and prevent liquidations;
Everything in a fast, cheap and reliable manner through Gelato Automate.
By integrating Gelato Automate, the Alpaca team can finally leave all the manual work to Gelato’s world-class automation suite, with some reward tokens being reinvested into their yield farms, and others being distributed to users.
“Gelato’s decentralized keeper platform has made it effortless for us to do automation and save resources, allowing us to focus on building the best DeFi products.” — Spicysquid, Head of Engineering
In case you want to see in more detail how Alpaca is feeding their grass house check out:
“After Beefy, Olympus and Gro we are excited to see Alpaca, the biggest leveraged yield farming protocol on BSC, join the Gelato fam. We are more than happy that they are choosing the best smart contract automation platform out there to automate token distributions. “
As Alpaca inevitably grows, Gelato will be there to help expand the platform’s product offerings and provide the required infrastructure to offer additional automated features in the future.
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About Alpaca Finance
Alpaca Finance launched in March 2021 and has become one of the top DeFi protocols, with over $400M locked in its TVL. Alpaca is also regarded as one of the safest DeFi platforms, receiving over 20 security audits from industry leaders, and offering insurance plans to reimburse users in the event of a loss.
Join the herd here.
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About Gelato Network
Gelato Network enables developers to automate & relay arbitrary smart contract executions on and across all EVM-based compatible blockchains such as Ethereum.
Our goal is to provide developers with a reliable, scalable & decentralized network to which they can outsource all web3-related DevOps.
Examples of which features are powered by Gelato include:
- Limit Orders on PancakeSwap
- Periodically updating debt ceilings on MakerDAO
- Offering users gasless token claims on Connext
- Automatically compounding yield farming vaults on Beefy Finance
- Automating the breeding of new digital racehorse NFTs on ZED RUN
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► Check out what we’ve been working on at 🍦https://gelato.network/ 🍦
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