PancakeSwap has launched a ALPACA-BNB farm and ALPACA staking pool as of 3AM UTC. The new token pool and farm was voted on and successfully passed by the community. Users can provide ALPACA-BNB pairs to fund the liquidity farm, allowing users to exchange the token. CAKE holders looking to take advantage of staking for the token can add CAKE to the provided staking pool. Starting on April 27 at 3AM UTC, the farm will have 2x CAKE rewards for the first 48 hours, then 1x CAKE rewards starting April 29 at 3AM UTC.
The ALPACA staking pool will be active until June 26, distributing a total of 393,000 ALPACA tokens via staking. Users can take advantage of the farm and staking pool by either purchasing ALPACA-BNB LP, or by staking CAKE to the ALPACA staking pool.
To access the new pool and farm, visit the PancakeSwap website. MetaMask and the Binance Chain Wallet are both recommended for connecting funds to the website, and can be installed to most major web browsers.
What is Alpaca Finance (ALPACA Tokens)?
According to Alpaca Finance, it is the “first lending protocol allowing leveraged yield farming on Binance Smart Chain.” The service helps lenders to earn safe and stable yields through liquidity mining. The system offers borrowers undercollateralized loans for leveraged yield farming positions, much like other defi financial systems. Anyone can get started by offering owned assets to the Alpaca Finance to lend out and earn rewards on.