Alpaca City Has Landed on The Binance Smart Chain

A leading NFT-Fi application, Alpaca City, finds itself on the Binance Smart Chain (BSC) with its latest partnerships, BurgerSwap and Dego Finance.

By
Rich
on
December 2, 2020
Category:
Project Insight

Welcome to Binance Smart Chain Alpaca City

NFT and Farming protocol "Alpaca City" is launching their services on the Binance Smart Chain (BSC), next to their existing Ethereum based project that launched late October 2020. Their launch on the BSC is set for December 3rd at 2:00 pm UTC.


Key Points

  • NFT-Fi Protocol that offers De-Fi applications such as farming and yield aggregation

  • According to Dapp.com & Dapp Review Aplaca City is the No.1 gaming DApp

  • Tokenomics on schedule to become deflationary in the near future

  • Cross-chain integration allows users to benefit from the BSC low fees and quick tx times

Partnerships on The BSC

Alpaca has partnered up with two well-known BSC projects, Dego Finance and Burger Swap.

Alpaca has organized giveaways to celebrate their launch on the BSC; 5000 NFTs will be airdropped for people who filled out the form and performed other tasks. Both Dego and Burger platforms are going to handle the airdrop. They are also running their own extra promotions in the first week after launch. Earning $BURGER (Alpaca Squad Farm) and/or Minting Dego-Alpaca NFTs ($25.000 worth of NFTs be minted for just one $ALPA token per NFT.)

Dego Finance provides the necessary service of minting the NFTs on the Dego foundry, and a open NFT market place. 

Burger Swap has a great AMM and cross-chain bridge, which should come in handy if you want to move your $ALPA from ERC-20 into BEP-20 tokens or vice versa.

ALPA farming 

Alpaca city is offering some yield farming as well, two pools in Alpaca Farm: 

ALPA/ETH Uniswap LP Pool: 

70% of farming rewards (Only available on Ethereum)

In this pool, you stake in ALPA/ETH Uniswap LP token to farm ALPA. You may choose ONE Alpaca NFT (optional) to boost your farming yields. The more LP tokens you stake, the higher energy you will be rewarded. Similar to most LP models, the pool share will be based on your LP Amount. 


Alpaca Squad Pool:

30% of farming rewards (50% on Ethereum & 50% on BSC)

In this pool, you need to assemble your Alpaca Squad to farm ALPA. The higher the total energy of your Alpaca Squad, the more reward you will receive. Your squad energy determines your share in the pool. At first, you can stake in at most 10 Alpaca NFTs to farm. This limit will increase weekly until the max limit of 30 is reached. 

Surely there will be more yield farming pools in the future, a logical pair would be ALPA/BNB, but we have to wait and see if it will come. 


Tokenomics

A key thing to understand about the ALPA token is that it is slowly becoming more deflationary as time passes. As of early November, 90% of breeding fees are burned indefinitely, allowing the ALPA circulating supply to be controlled. On top of the fees being burned, the team at Alpaca City also has a deflationary emission schedule. The Farms reward starts at 37.5 ALPA tokens per block but quickly halves every four weeks (24 weeks total) until the block reward is .59 ALPA per block. Due to these measures, the ALPA token is on course to become a deflationary token over time.

The MathWallet team published a graphic on which they stated that "according to current spending level and token burn mechanism, ALPA will become [a] deflationary token in about 20 weeks." Looking at Alpaca Cities current burn rate of about 60,000 ALPA daily, it would not be out of the question to see this token become deflationary in the next ten weeks or so as the block reward begins decreasing as well. Overall keep an eye out on this token; it's got an impressive tokenomics system.


Nice Move

Alpaca City is yet another project that has made a cross-chain move, moving/entering the BSC so the platform users can benefit from the speed and cheap tx on the Binance Smart Chain. I feel it won't be the last project that we will see to offer cross-chain services, a smart move overall.

Alpaca city allows users to interact with their Alpaca NFT's and with the community while ultimately reaping the benefits of yield farming. For those who use the ALPA on the Ethereum network, you will be amazed by the BSC's speed and costs.


Now that it is available on the BSC, I will most certainly check it out for myself. 

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Rich

Richard is a multilingual writer, located in the Netherlands, husband and father, cryptocurrency and tech enthousiast enjoys long walks and bicycle rides. Fervent Binance Smart Chain projects promotor.