Alpaca Finance Announced its Expansion To Fantom Network
After much time spent in discussions with potential network partners, and analyzing the logistics of growing multi-chain, we’re finally ready to announce it’s time to expand the farm! We’re going multi-chain! And the first expansion will be to Fantom!
Which Alpaca Products Will Be On Fantom?
Leveraged Yield Farming
Our first DEX integration on Fantom will be SpookySwap which is currently the #1 DEX on Fantom with ~1.5Bn TVL.
At launch, we’ll initially support 2 lending pools: FTM and USDC
Additional lending pools (e.g. fUSDT, DAI, BTC, wETH) will be added in the future. We will also be rolling out support for the following farming pools:
- FTM-BOO (3x)
- FTM-USDC (3x; double-sided borrowing)
- FTM-wETH (3x)
- FTM-DAI (3x)
- FTM-fUSDT (3x)
- FTM-MIM (3x)
- FTM-BTC (3x)
Automated Vaults: Market-Neutral Strategies
We recently announced we’re building Automated Vaults running market-neutral strategies on BSC, which allow users to yield farm high APYs DEX pairs with almost 0 market exposure, and thus completely hedge market risk. Once we launch this product on BSC, we will observe it for a short period of 1–2 weeks to ensure everything is stable and behaving as intended. After that, we will also launch this product on Fantom.
AUSD
We are in the process of rolling out additional pegging mechanisms and a development plan for AUSD to get it commercially ready, which we’ll soon share in an article. Once AUSD is ready, we also plan to launch the stablecoin on Fantom as well. That means lenders on Fantom will also be able to lock their ibTokens to borrow AUSD, increasing their capital efficiency, APYs, and strategic flexibility.
Other Future Developments
We intend to launch all future major products and features on both BSC & Fantom. So, you young alpacas can rest assured that you’ll be able to find all the tastiest grass on both networks.
Benefits to Alpaca Finance Community
- More farming opportunities: whether you’re a leveraged yield farmer or lender, this multi-chain expansion means you’ll have more opportunities to earn high yields and get exposure to different tokens that do not currently exist on BSC. You’ll get to do all this under the comfort of the Alpaca platform where you can invest comfortably knowing everything is safe and secure because of our industry-leading focus on security.
- New revenue sources for ALPACA holders: More TVL, lending, and borrowing means more buyback&burn each week, as well as more revenue to distribute to our governance vault stakers. There will be no new tokens. All the economic benefits of our multi-chain growth will accrue to $ALPACA holders!
- New members to grow the herd: While we’re one of the most recognizable protocols on BSC, there are many users out there on other networks like Fantom who have not heard about our magical farm yet. Many of these innocent souls simply aren’t aware that they’re actually alpacas…
With this expansion, we will grow our Herd, bringing in new users and investors, so you might be seeing some baby alpacas soon. Be sure to be kind and show them the noble ways of our Herd!
About 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 principals and resulting profits.
