Decentralized Finance or DeFi is a big crypto buzzword nowadays. DeFi started as a financial experiment on the blockchain some years back but post-pandemic, it has grown really exponentially and has become a billion-dollar industry. Another happening blockchain phenomenon is non-fungible token or NFT. All conventional cryptocurrencies like Bitcoin or Ether etc. are fungible but every NFT is unique as non-fungibility is the key feature of such a token. Any digital art can be easily copied but NFTs preserve the origin, authenticity, ownership and transaction details on the blockchain in a verifiable format. The demand for NFTs is surging at astronomical speed and there is no sign that the growth will be slowed down soon. The eye-popping prices of various NFTs are making headlines often. There is no doubt that NFTs have become a new asset class. What if we combine NFTs and DeFi together?
Alapaca City – DeFi + NFTs
Alpaca City is a project which combines NFTs and yield farming of DeFi. The virtual game is similar to Cryptokitties. In this miracle city, you collect mystic and beautiful Alpacas and breed them to get a new generation of adorable Alpaca. Every Alpaca has unique traits and thus they are highly collectable. Three secret genes are available in a particular Alpaca and due to suppression or expression of the genes, the offspring can be really different from the parents. The users always manage every process on-chain. Besides having unique traits, every Alpaca has unique yield farming capability due to different energy level. Sounds interesting? Let’s go deep!
A few Alpacas from my inventory
Gamified blockchain metaverse
Alpaca City was created on the Ethereum blockchain but the arbitrary and high gas fee of Ethereum made the game unusable. The city was replicated on Binance Smart Chain. The rare Alpacas can be found on both Ethereum and Binance Smart Chain now but the city gets more traffic from the latter. The city is providing fair distribution of assets and thousands of Alpacas are waiting for their future shepherds. Alpaca City has been designed with a low entry barrier. It offers an accessible DeFi ecosystem by combining beautiful NFTs and yield farming. Don’t forget the elements of probability which gives variation in yield farming and thus create a new era of gamification.
Entering into Alpaca City
Just go to Alpaca City and connect with your Metamask. Connect with your Binance Smart Chain Address and explore the city. Metamask doesn’t show Binance Smart Chain by default. You need to add the network manually through custom RPC. If you are still confused regarding how to configure Binance Smart Chain on Metamask, read this detailed guide.
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
Block Explorer URL: https://bscscan.com
ALPA is the native token of Alpaca City. To breed Alpacas, you need ALPA and a minimum of two Alpacas. You can’t buy Alpacas now from the primary market as the presales are over. Alpacas are available on the secondary market here. Once you buy Alpacas, you can breed them to get a new generation. 90% of the breeding fee is burned and thus it makes ALPA scarcer. WOOL is another valueless utility token of Alpaca City. You can recycle(burn) Alpacas to exchange for WOOL.
Do bang bang to breed Alpacas
Farming with Pancakeswap LP
You can provide liquidity to ALPA-BNB on Pancakeswap and stake the LP token on Alpaca City to do yield farming. You need to select one Alpaca from your inventory as the farmer. You can also maintain a squad of Alpacas in your ‘Alpaca Squad’ to generate even better yield.
This generation 4 Unified Duckling is my farmer and it farms Alpaca with 97% APY
Alpaca City is expanding on Binance Smart Chain vividly. Post inclusion of ALPA in the official pool of Pancakeswap, the token price also jumped a lot. The city is going to get a new feature called ‘Boutique’ soon. A ‘Boutique' is a place where you can purchase accessories for your Alpacas and increase their energy level. A stablecoin asset management system is also being planned to boost the city economy. Many parts of the city are still undiscovered and waiting to be explored. If the game can package more surprise elements, popularity should definitely go up.