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Bear Market Strategy: Shorting While Farming With Alpaca Finance
July 24, 2022
MINS
Alpaca Finance allows users to short farming positions and make potential profits even during a market downturn.
Shorting on Alpaca Finance
Alpaca Finance offers users numerous techniques to earn yields in the Decentralized Finance (Defi) space. The leveraged yield farming platform on BNB Chain enables users to create strategies to customize their assets' exposure and earn profit. Some of these strategies include “longing” and “shorting.”
Longing is a common method for traders, where profits are made by holding assets that rise in price over time. Users who utilize this strategy can also make losses if the assets drop in price.
Shorting, on the other hand, is the act of selling assets in advance to make a profit when the price drops.
Shorting can be very lucrative on Alpaca, unlike most derivatives exchanges where users lose their funds when their short positions don’t yield profit each time the asset price doesn’t fall.
The difference is: Alpaca allows users to farm and short the market at the same time.
With Alpaca Finance, users can short on borrowed assets. This can be done in just a few steps by depositing your desired amount into the specific farm and setting a leverage higher than 2x – meaning you borrow more than the amount of funds that you post as collateral. This action ensures that Alpaca Finance lends you enough funds to create a net short position and generate profit if the price of the borrowed asset drops.
In summary, farming with a leverage greater than 2x automatically creates a short position on the borrowed asset, which can yield profit in the bear market as the price drops.
Brief Explanation of Shorting on Alpaca Finance
Here is a brief representation of shorting while using leveraged yield farming on Alpaca Finance, with ETH-BNB LP pool. In this case you are betting that BNB will fall in price relative to ETH:
- You add 1 BNB in principal to farm ETH-BNB on Alpaca Finance.
- You choose 3x leverage. Thus, you are borrowing 2 BNB.
- From the first two steps, you now have a total of 3 BNB in holdings. Alpaca Finance will convert 50% of your BNB acquisition to ETH to create a balanced ETH-BNB LP position.
- Hence, the protocol sells 1.5 BNB and converts it to ETH. You now have 1.5 BNB and 1.5 BNB worth of ETH, and your LP position is created at a 50:50 ratio.
- When you close your position, you are holding 1.5 BNB but you still owe Alpaca Finance 2 BNB.
- Alpaca Finance will take your 1.5 BNB and then account for the 0.5 BNB remainder by using your ETH balance to purchase 0.5 BNB. (In total, you paid Alpaca Finance 1.5 BNB plus an amount of ETH worth 0.5 BNB.)
- Now, if the BNB price had dropped compared to ETH after you converted your initial 1.5 BNB to ETH, that means to cover your debt you were able to buy back the 0.5 BNB at a lower price. In simple terms, you sold high, bought low, and have profited from the short.
In addition to the profit from the successful short, you have to factor in the cost of borrowing the funds from Alpaca (and other fees), but also the earnings made from LP farming (including interest and platform rewards). Currently, Annual Percentage Yield (APY) rates on Alpaca pools range from 1% for stablecoin pairs to more than 300%.
“Well, with Alpaca, when you borrow from us, not only are you not losing money from borrowing interest, you’re gaining yields! Why? Because you’re using the held asset for farming! Where the yields almost always far outweigh the borrowing interest!” according to Alpaca.
Making Profits From Shorting
Now that you understand how shorting on Alpaca Finance’s leveraged farm works, how can you utilize the strategy to make profit? Here is a simulation of creating a short position with an asset-stablecoin farm, e.g ETH-USDT.
You would create this short in the expectation that the price of your borrowed ETH will fall during a bear market.
At the same time, the non-borrowed asset, USDT, will be unaffected irrespective of the market condition. Here is how it works:
- Open an ETH-USDT farming position on Alpaca Finance and set leverage at 3x.
- Deposit your amount. For this illustration, we are going to use a $10,000 USDT deposit. Why USDT? To reduce swap fees.
- Since the leverage is set at 3x, you are borrowing $20,000 in ETH.
- Now, since Alpaca Finance will balance the pool at a 50:50 ratio, $5,000 from your ETH debt will be swapped to USDT. So you have $15,000 in ETH and $15,000 in USDT.
- You are long on both borrowed $15,000 in ETH and $15,000 in USDT. However, as it is a stablecoin there will be little or no price movements from the stablecoin.
- The $5,000 swapped from ETH to USDT to balance the LP position will create a net short ETH position.
- When closing your farming position, you will have to repay the debt. If $5,000 worth of ETH drops to $4,000, you will buy back the debt at $4,000 instead of $5,000 and gain a profit of $1,000 before including additional profit from yield farming.
At this point, buying back at a lower rate means you are paying less than what you borrowed, and you have gained from the short.
While you can utilize a crypto-stablecoin farm, you can also use a crypto-crypto farm to short on Alpaca Finance. However, using a crypto-stablecoin farm is the safest in the case of a general bear market, as you do not risk significant loss from longing on your farmed stablecoin assets.
You can read our project insight about Alpaca Finance to learn more about the leveraged yield farming platform on BNB Chain.
Closing Thoughts
Shorting on Alpaca Finance opens up new possibilities for earning. The strategy works by depositing and selecting leverage above 2x, allowing users to take an overcollateralized loan from the platform, which automatically balances the assets to create a 50:50 LP position, resulting in a net short position on the borrowed assets.
With this strategy, Alpaca allows users to short on borrowed assets in the form of LP, which can also produce net farming rewards.
What is Alpaca Finance:
Alpaca Finance is the largest lending protocol allowing leveraged yield farming on Binance Smart Chain. It 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.
Where to Find Alpaca Finance:
Website | Twitter | Telegram | Discord | Medium | GitHub |
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Pi Chain Mall Crosses 4.5 Million in Total Transactions
March 30, 2023
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The innovative Pi Withdrawal function has contributed to its increased awareness in the industry.
Huge Interest on Pi Network
Pi Chain Mall's (PCM) Pi withdrawal function has been a game-changing innovation in the Pi ecosystem. The e-commerce platform now boasts over 4.5 million Pi transactions by Pioneers.
The top Pi Network platform shared details about the notable milestone on Twitter, urging Pioneers to join its growing platform and trade products easily.
Most recently, BSC News reported the product's massive adoption after recording over 360K withdrawals since the relaunch. The innovation, which allows traders to withdraw real Pi coins, has contributed to the protocol's increased adoption in the Decentralized Finance (DeFi) space.
Pioneers can explore the protocol's unique ecosystem by visiting pipcm.com on the Pi Browser application.
What is Pi Network:
Pi Network is a novel cryptocurrency and developer platform allowing mobile users to mine Pi coins without draining the battery. Pi’s blockchain secures economic transactions via a mobile meritocracy system and a full Web 3.0 experience where community developers can build decentralized applications (Dapps) for millions of users.
Where to find Pi Network:
Website | Twitter | LinkedIn | Facebook | Instagram |
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Thales Launches Free-to-Play Game Miletus with NFTs and Virtual Fishing Competition
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March 30, 2023
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In order to kick off the new game, Thales has organized a virtual fishing competition from March 27th to April 3rd, allowing participants to mint different sets of armor based on their skills and staked $THALES tokens.
Starting With a Fishing Competition
The parimutuel markets protocol Thales has released a free-to-play game, Miletus, with an in-game chat function, wearable NFTs, and new game mechanics, characters, and quests.
In order to kickstart the game, Thales launched a virtual fishing competition in the metaverse. The quest began on March 27, 4:30 PM UTC, and will end on April 3, 4:30 PM UTC.
Each fishing attempt will measure three factors: Strength (your ability to hit the "sweet" spot with your line), Reeling ability (your ability to stay within the AB range), and Rarity of the fish caught.
The Regular fisherman set will be available to everyone participating in the launch fishing quest. The top 20% finishers will be able to mint the Camouflage fisherman set at the end of the competition. Those who finish in the top 5% can mint the luxury fisherman set.
Furthermore, the protocol will allow those who have staked $THALES in either Optimism or Arbitrum to claim the OG Armor.
Those who did not stake $THALES within the given time can still mint Bronze, Silver, or Gold armors depending on their volume generated in either the Thales markets DApp or the Overtime markets DApp on Optimism or Arbitrum.
Thales expanded to Arbitrum last September and later to BNB Chain last November. Recently the protocol has also expanded its gamified staking to Arbitrum.
As part of its gamified approach, Thales rewards those who stake THALES each week and incentivizes protocol usage at the same time. There are base and bonus rewards for every weekly staking epoch (which starts every Wednesday).
Thales ($THALES) is trading at $0.7078, up 0.34% in 24 hours. The protocol has a market cap of $26.411 million and a total volume locked (TVL) of $10.72 million.
What is Thales:
Thales is a decentralized finance protocol based on Ethereum Optimism, Polygon and Arbitrum that allows peer-to-peer parimutuel markets to be created. According to the protocol, it forms the basis for a variety of on-chain initiatives, from gamification to AMM-based positional markets.
Learn more about Thales:
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Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Web3Go Daily Data: BNB Chain Overview of March 30
March 30, 2023
The daily Web3Go Data report specializing in blockchain data on BNB Chain. Here is the report for March 30, 2023.
Web3Go Daily Data: BNB Chain
What is Web3Go:
Web3Go is an open data platform that focuses on the formatting, visualization, sharing, and collaborative analysis of the on-chain data generated in the Polkadot and BNB Chain ecosystems.
Where to find Web3Go:
Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Open Leverage Partners With Floki to Launch Giveaway Campaign For Users
March 30, 2023
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Users can now utilize the $FLOKI token as collateral when borrowing assets on the Open Leverage platform. Further, they will receive rewards for committing partner assets in the ongoing campaign.
Open Leverage Collaborates with Floki and Others
After unveiling its permissionless liquidity market to the Decentralized Finance (DeFi) space, Open Leverage has launched the "Genesis Permissionless Liquidity Market" giveaway campaign for users in the blockchain industry.
The lending and margin protocol partnered with numerous DeFi platforms, including Floki, to reward users who utilize its features. According to the platform's thread on Twitter, partners will provide their tokens for users who lend or borrow on pairs with the tag "Genesis Market." Further, a total of 1.45M in the protocol's native $OLE token is up for grabs for users.
As part of the partnership with the MemeFi platform, $FLOKI is now integrated into the Open Leverage ecosystem. This means that $FLOKI holders can utilize their tokens as collateral to borrow assets on the platform. Floki Core Team Member, B, was excited at the collaboration, becoming the first set of tokens integrated into the protocol.
"We're excited to collaborate with Open Leverage as one of the first sets of tokens they integrated for their Genesis Permissionless Liquidity Market. Open Leverage is doing pretty innovative stuff on the BNB chain, which we really love, so we're happy to be a part of this!" B wrote.
Open Leverage expects the Floki community to participate in the campaign and earn rewards, including partners like RACA, BabySwap, BiSwap, Space ID, and Mdex. So, BNB Chain users can borrow assets with other partner tokens as collateral on the platform and earn big.
What is Floki:
Floki Inu began with a tweet from Elon Musk. When the billionaire announced he would name his Shiba Inu puppy Floki, it created a deluge of ‘Floki’ dogcoins. The most successful of these is Floki Inu. Floki Inu is currently the market's third most popular meme token, behind Dogecoin and Shiba Inu. It is backed by a community of committed enthusiasts and a strong marketing campaign.
Where to find Floki:
Website | Twitter | Telegram | Discord |
Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Baby Doge Community Voting on First Multichain Destination
March 30, 2023
Which EVM-compatible blockchain will Baby Doge be going to first: Ethereum, Polygon, Optimism, Avalanche or Arbitrum?
Ethereum, Polygon, Optimism, Avalanche or Arbitrum?
A huge multichain expansion from Baby Doge appears not to be a question of “If?” but “Where?”! The BNB Chain MemeFi project is holding a community vote on which blockchain Baby Doge should expand to initially.
The voting period started March 29 and ends April 8. After a day of voting, Ethereum holds an early lead. The other Ethereum Virtual Machine (EVM)-compatible networks under consideration are Polygon, Arbitrum, Optimism and Avalanche.
According to the proposal, “We're planning on expanding our community to other chains and want to know where you think we should expand to! The core team will base our future multi support based your the response here. [...] initially we plan to take the token locker multichain. Where should we deploy first?”
Yes, the proposal is written as adorably as the appearance of the Baby Doge puppy mascot, but don’t be deceived by looks: The MemeFi project team has posted some serious accomplishments, including furthering the popularity of the Baby Doge Swap exchange ($63 million in TVL), introducing gaming elements to its ecosystem (first game, PVP Chess), and passing the $10 million TVL mark for its Token Locker feature.
As the proposal indicates, the first Baby Doge utility to go multichain will be the Token Locker.
In the 24 hours since the multichain vote went live, the price of $BabyDoge increased 6%, according to CoinGecko.
What is Baby Doge Swap:
Baby Doge Swap is the acclaimed “son” of the popular meme token, DOGE. Baby Doge Swap started out as Baby Doge Coin and is a hyper-deflationary system that progressively increases its scarcity and increases its liquidity. The project is now a fully Decentralized Exchange with swaps, liquidity pools, yield farming, and more. Baby Doge considers its primary utility as building a fun meme community to spread awareness of animal adoption.
Where to find Baby Doge Swap:
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Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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