1. What is Alpaca Finance?
Alpaca Finance is a lending protocol allowing leveraged yield farming on Binance Smart Chain. Alpaca Finance helps lenders earn safe and stable yields, and offers borrowers undercollateralized loans for leveraged yield farming positions, vastly multiplying their farming principles and resulting profits.
2. How to use Alpaca Finance?
Step to add liquidity:
1. Visit the Lending page on Alpaca Finance.
2. Choose the lending pool you want to lend to. There are various available lending pool offerings for you, such as ALPACA, BNB, BUSD, USDT, TUSD, BTCB, ETH.
3. Choose Deposit on the desired asset pool. In this section, I will take the BNB pool as an example.
4. Enter the amount you want to deposit and click Confirm. When the transaction completes, you will receive ibBNB in your Wallet. You can use that ibBNB to join farming on Alpaca Finance.
After joining lending, you’ll receive ibTokens and then you can use it to join Staking on Alpaca Finance. Here I’ll use ibBNB taken from the lending pool for the example.
Step to join Staking:
1. Visit the Staking page on Alpaca Finance.
2. Choose ibBNB pool. Then enter the amount of ibBNB you want to stake, then select Stake and confirm the transaction on the pop-up notification from Neko Wallet. Now you have completed joining Staking on Alpaca Finance.
Staking on Graze
Graze only accept ibALPACA tokens to join staking. If you lend your ALPACA, you can get ibALPACA.
Step to join Staking on Graze:
1. Visit the Graze page on Alpaca Finance.
2. Choose your favorite pool and then enter the amount of ibALPACA you want to stake. 3. Select Stake and confirm the transaction on the pop-up notification from Neko Wallet. Now you have completed joining Graze on Alpaca Finance.
Alpaca Finance allows users to open leveraged yield farming positions on PancakeSwap and WaultSwap pools.
Step to open leveraged yield farming position:
1. Go to the Farming page on Alpaca Finance.
2. Choose your favorite pool you want to join farming. Then click Farm. For example, I’ll take CAKE farming pool.
3. Fill in some information:
- The amount of CAKE you would like to farm.
- The desired leverage, max with 2.5x. In this case, I scale the leverage down to 1x.
- The asset you want to borrow.
4. Check the information on the box, then choose Approve. Then Confirm the transaction on the pop-up notification from Neko Wallet. Now you have completed joining Farming on Alpaca Finance.
You can check your farming position in Your Positions. You can adjust your position or close your farming position anytime.