In April, we started developing the Stablecoin initiative. The technical development timeline can be found here. We will have more updates for the community at the appropriate times in our future recaps. Moreover, our community approved AIP-31 to manage the remaining assets in the stable swap module. This action will utilize the assets in a more efficient manner for our protocol.
This month, we published four Institutional Newsletters where you can read the summary of major headlines in the crypto market related to regulation, products, and fundraising. We publish these newsletters every week. You can check out this month’s editions here: Edition 78, Edition 79, Edition 80, and Edition 81.
Read below for more details of our developments this month.
💰 AUSD
According to ALP-31, the community has decided to use the remaining assets in the stable swap module to buy ALPACA in the open market. The purchase will be executed as a TWAP over a period of time. Users were given a 45-day notice period before the swap execution. The swap is scheduled to start on or around May 27th 2024. After this time, users will be able to convert AUSD into ALPACA instead.
💎 AF 2.0
In April, Alpaca Finance 2.0’s Money Market generated ~$53k in interest revenue, reaching a total cumulative revenue of ~$443k.
You can monitor the AF2.0 Money Market through our Dune page here.
Bitcoin Halving Day 2024
To celebrate Bitcoin Halving Day 2024, the exclusive Bitcoin Halving Day 2024 NFT was given to all users staking any amount of ALPACA in the Governance Vault or deposit any amount of BTCB in the Money Market by Tuesday, 23 April 2024. You can check your eligibility here.
📈 Perpetual Futures Exchange
In April, Alperp generated a trading volume of over $18 million, reaching a cumulative trading volume of $602 million since launch.
You can always check our in-house Stats page to see Alperp’s performance and can also download the data here.
🔥 ALPACA Buyback&Burn
Each week, we share our revenue and ALPACA burn statistics on X (previously Twitter). In April, 170,552 ALPACA (~$35,200) was burned over 4 weeks. The total cumulative burn is now ~33.9 million ALPACA (18.03% of total supply).
ALPACA has been deflationary for 114 of the last 121 weeks. As per the ALPACA emissions schedule, the ALPACA token is now guaranteed to be fully deflationary as ALPACA emissions & rewards are now officially finished. We added extensive details on burn and various sources of burn on our Docs here. On top of that, we hope to again refer our readers to this article by a community member, explaining ALPACA’s deflationary nature and how it will lead to a natural rise of the ALPACA token’s price over time.
🗽 Alpaca Governance
Any user can stake ALPACA in the Governance Vault to (1)earn a share of our platform’s revenue, (2)get Grazing Range rewards, and (3)receive xALPACA to vote on Alpaca Improvement Proposals (AIPs).
In total, 24.1% of circulating ALPACA has been locked, and we have paid over >$4.1 Mn to ALPACA governance stakers. Read all about Alpaca Governance in our Part 1 and Part 2 Medium articles or visit our docs’ Governance section.
Our Discord has a private channel for xALPACA holders where governance members can discuss topics and discover/share alpha. There is a bot automating membership and the minimum required to gain entry is 100 xALPACA in a wallet. From time to time, we do special airdrops from partners (i.e. NFTs) in this channel to xALPACA holders and also Alpies holders (in their respective private channels). You can also bring up any Governance topics for discussion in our Forum.
Alpaca Improvement Proposals (AIPs):
AIP-31.1 voting has successfully passed. The community voted to implement the swap of the asset in the stable swap module
AIP-31.2 voting has successfully passed. The community voted to use the remaining stablecoin in the stable swap module to buy ALPACA in the open market. Once completed, AUSD holders will be able to redeem their AUSD for ALPACA.
For those who participated in voting, the NFT for AIP-31 is now available to claim on Galxe. Visit our Governance Forum to read about, discuss, and vote on these AIPs.
📰 Other News
In April, BSC All day, BSC deep insights twitter account, mentioned Alpaca Finance in an evaluation of BNB Chainhttps://twitter.com/BSC_allday/status/1777199719783256076
Web3M, a decentralized multi-channel news network, invited us as a special guest in Twitter Space ‘Hedge Fund Strategies for Safe Profits’. — https://twitter.com/_WEB3M_/status/1782840910667305227
Feedback
We greatly value our users’ feedback, which you can give at: https://docs.google.com/forms/d/1QGY4wJUvYdYWe6TQn460m0A7H07xMUcBGEnU-pUXyg4/viewform?ts=61e8ce4e&edit_requested=true
Next Steps
We will continue to build. The upcoming updates that you can look forward to include news on the stablecoin and game.
We announce updates on our Twitter first, so follow us to be the first to know!
Follow this medium account to get notified when we release more of this newsletter. To learn more about Alpaca Finance, you can visit our official communication channels:
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April 2024 Recap was originally published in Alpaca Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.