“Official Partnership with Alpaca Finance”
We are very happy to form a partnership with Alpaca Finance, a leading Decentralized Finance protocol on Binance Smart Chain (“BSC”).
With the cooperation of the Alpaca Finance team, Shinobi wallet is introducing an in-app lending service integrating Alpaca’s product.
Alpaca Finance is the largest lending protocol that enables leverage yield-farming on BSC.
Alpaca was launched in February 2021, and has since hosted $1 billion USD in TVL within its platform for the majority of the year, making Alpaca one of the leading lending platforms within DeFi.
Although there have been many large-scale flash-loan attacks in crypto, Alpaca Finance is a great project that has succeeded in preventing flash-loan attacks with its own multi-layer security process and Alpaca Guard. In fact, the platform prohibits flash loans from interacting with its products from the base layer.
What’s even more surprising is that leverage yield-farming is possible on Alpaca Finance.
When it comes to APY, there are only pleasant surprises, such as finding the highest APY in the industry.
Through this partnership, users of Shinobi will be able to easily participate in yield farming within Shinobi wallet.
In yield farming, you can receive high compensation for lending crypto assets.
The Shinobi wallet implemented the lending function as the first step. The currencies available for lending are the following:
Then, let’s start the lending. You just need to follow these steps!
- After accessing the Shinobi wallet, tap the finance at the bottom and select the invest on the top screen.
2. After selecting Invest, you can check the logo of Alpaca Finance(BSC).
3. Select the token you want to invest in among ALPACA, BNB, BUSD, USDT.
The figure on the right is the annual interest rate you will earn. For example, if you deposit 100 BNB when its annual interest rate is 8.4%, you will earn 8.4 BNB by the end of the year (though keep in mind that this rate is variable).
4. Enter how much you want to invest in the upper field.
*In the case of BNB, BNB is used for gas price, so even if MAX is tapped, the entire holding amount is not entered since some must be reserved for gas. (BNB is used for gas on all BSC transactions, and thus lending transactions with Alpaca)
5. Select the gas price.
6. Tap Invest.
7. Tap confirm when the confirmation window appears.
If you go back to the main screen afterwards, you’ll see that the deposit has succeeded.
Of course, you can also withdraw your funds at any time, and there is no fee on deposits or withdrawals. The process for withdrawals is similar to that of deposits.
- Tap the finance item on the main screen.
2. Choose a token to withdraw.
3. Enter the amount to you’d like to withdraw in the lower empty field.
4. Choose the gas price.
5. Tap withdraw.
6. Tap confirm when the confirmation window appears. (The phrase “gas price changed” may be displayed since the network’s gas price may change.)
If you go back to the main screen afterwards, you’ll see your withdrawal was successful.
You can perform deposits and withdrawal in the above manner.
Additionally, you can check your earned income as the balance at the bottom of the logo.
You can use these lending features in the newly updated Shinobi wallet 1.4.2.
We are very grateful to Alpaca Finance for their cooperation and look forward to providing more useful utility to our users.
Discord(with Japanese channel): https://discord.gg/2UvgmqcVDQ
English Telegram: https://t.me/alpacafinance
Japanese Telegram: https://t.me/AlpacaFinanceJapan