Alpaca Finance (ALPACA) Crypto Exchange
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What Is Alpaca Finance?
It is a lending protocol built on the BNB Chain. It allows crypto asset holders to earn yields on their assets by loaning them to others and collecting interest. It operates similarly to bank accounts but instead with a decentralized model.
The ALPACA crypto coin is the official token of this decentralized protocol. It currently trades at around $0.2900 and has a market value of over $40 million, according to CoinMarketCap. The token has a circulating supply of nearly 153 million units out of a maximum of 188 million.
How Does Alpaca Finance Work?
You can buy Alpacas and deposit them in lending vaults. Then, you will receive ibALPACA, an interest-bearing token representing your share of tokens in the vault. ibALPACA accrues interest over time, and you redeem it for the ALPACAs you deposited in the vault plus interest whenever you want.
ALPACAs are freely available to trade, but ibALPACA is only obtainable by depositing ALPACAs in a lending vault.
How Do You Earn Interest?
ALPACA lends the tokens you deposit into its vaults to yield farmers that pay back with interest. Yield farmers are people who deposit tokens into liquidity pools to facilitate trading and earn a percentage of fees paid to the pool as a reward.
