by BSC News
August 16, 2022
24 million ALPACA tokens sent to hades as the price of ALPACA begins to stabilize.
Coin burning is a deflationary measure that reduces an asset's supply. This is often done in an effort to shore up the value of a token by increasing its scarcity.
Since the first burn transaction in March 2021, the reverse has been the case for the ALPACA token from Alpaca Finance as its price has followed the waves of euphoria and despair in the crypto markets. After rising to a high above $3.00 in May of 2021, the token entered a steady decline with the broader crypto market bottoming out below $0.20.
Currently changing hands at $0.2767, the token's price represents a rally of over 30% Cold comfort for hodlers, but showing signs of life.
Speaking to BSC News on steps taken to ensure continued interest in its token, Samsara, Head of Strategy & Marketing at Alpaca Finance remarked:
“As for reviving interest, half our tokens are locked up in governance for 3/4 of a year. There seems to be plenty of interest. We’re a company, not a meme coin that we need to focus on creating buying interest for a token. Just like how in traditional markets, companies improve their businesses instead of doing marketing for their stock.
This is certainly true for Alpaca. Deploying groundbreaking DeFi primitives in a stacking that takes advantage of EVM composability has attracted considerable TVL since launch, currently over $500 million.
Alpaca Finance is a lending protocol that enables leveraged yield farming on BNB Chain and Fantom. It offers lenders high yields while offering borrowers undercollateralized loans for leveraged yield farming positions. Using EVM composability Alpaca leverages yield farming primatives potentially multiplying profits.
Alpaca Finance is a fair-launch project with no pre-sale or pre-mine.
Where to Find Alpaca Finance:
Website | Twitter | Telegram | Discord | Medium | GitHub |
Don’t forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto!
Follow us on Twitter and Instagram!
If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, Cryptonomics Explainers, and Trading Tool Kits from BSC News.
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
Looking for a job in crypto? Check out the CryptoJobsNow!
Related News
Latest News
April 23, 2024
Binance’s 53rd Launchpool Project: What is Renzo Protocol?
April 23, 2024
Texas' Blockchain Association and the Crypto Freedom Alliance Sue US SEC
April 23, 2024
Binance Sued in Canada Over Securities Law Violations: What to Know
April 22, 2024
What Are Bitcoin Runes?
April 22, 2024
Binance Executive Arrested in Kenya After Fleeing Nigeria
April 22, 2024
Shiba Inu Secures $12M To Launch Privacy-Centric Layer 3 Blockchain
April 20, 2024
Weekly Article Recap: 4/15-4/19
April 19, 2024
Michael Saylor Capitalizes on MicroStrategy Stock Surge, Sells $370M $MSTR
More News