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Governance Sources Details
Alpaca revenue comes from multiple sources and is collected under different smart contracts. We discuss below, in detail, the method by which each revenue source is collected and how they are used to distribute to governance vault stakers.
Regular Income Streams
Irregular Income Streams
- Based on the actual farming rewards, the smart contract keeps track of the amount owed to the protocol, which is currently set at 9%. Refer to the Global Parameter page for all of the most up-to-date parameter values.
- Each time the farming rewards (e.g., CAKE, BSW, etc.) is claimed and compounded back into the LP position, the farming performance fee from each worker will be sent to this wallet and kept in BUSD.
- Each day, all the accrued rewards, will be swapped into ALPACA and sent to GrassHouse contract, waiting to be distributed to Governance Vault stakers on Thursdays.
- This portion of the revenue is a regular income stream. Hence, the entire amount will be distributed to the Governance vault each week.
Farming Performance Fee accrues in 0x08B5A95cb94f926a8B620E87eE92e675b35afc7E wallet together with AV Farming Performance Fee.
In order to check the fee’s source, you can do the following:
- Go to “BEP-20 Token Txns”
- Check the “From” column to identify the source of the fee
- Based on the actual farming rewards, the smart contract keeps track of the amount owed to the protocol, which is currently set at 15%. Refer to the Global Parameter page for all of the most up-to-date parameter values.
- Each time the farming rewards (e.g., CAKE, BSW, etc.) is claimed and compounded back into the LP position, the AV farming performance fee from each worker will be sent to this wallet and kept in BUSD.
- Each day, all the accrued rewards, will be swapped into ALPACA and sent to GrassHouse contract, waiting to be distributed to Governance Vault stakers on Thursdays.
- This portion of the revenue is a regular income stream. Hence, the entire amount will be distributed to the Governance vault each week.
AV Farming Performance Fee is accrued in 0x08B5A95cb94f926a8B620E87eE92e675b35afc7E wallet together with Farming Performance Fee.
In order to check the fee’s source, you can do the following:
- Go to “BEP-20 Token Txns”
- Check the “From” column to identify the source of the fee
Automated Vault Worker Addresses:
- Long 3x BUSD-BNB PCS1: 0xdAa4D6FfF2055Fa2A3936190EA4FcC682Dc46898 and 0xBbFACE35322D6d04E0Cf911626Fa54B55ADf8fB8
- Long 8x BUSD-BNB PCS1: 0xB8F416cf5dd81C75A62827Ce56B70a00F0cb428C and 0xFA8d3B7D72455270Ec02548D317270a0aeC2D7FC
- Long 8x USDT-BNB BSW1: 0x77faCa1541aC17CFE26Ff82c2CDdCA3b7CcFD955 and 0x6f9D27BC913E3c094F105bd89C557e51e7E2f6ee
- Long 8x USDT-BNB PCS1: 0x4acFecBbe2965119DB6c9d539e4aF4A1DA9bD43B and 0xd60f6bb9e2a1e6C44Bd1Df3946d76cBd79C9636F
- Long 3x BUSD-BTCB PCS1: 0x100aBb8EF81470F5A83A078c76B1cA74d33e4b92 and 0x93269F1600C19FeD0a378b242B698f647E48A6ed
- Market-Neutral 3x BNB-USDT PCS1: 0x42dA676116DF26EE9bb71595fFe7c18343FB2b64 and 0x8EF56e94bbaEe1638C3c87D3ab0de0a90e2cB067
- Market-Neutral 3x BNB-BUSD PCS1: 0x07767daF4e84bDAaBf3A72c80cec8C8Eb962f3Ae and 0x54D3218787060463EEb944fa01b0cbE745Ef4DB5
- Market-Neutral 8x BNB-USDT PCS1: 0x83A5d5c54Ad83bBeA8667B3B95d7610E16e52723 and 0x4b70c41F514FBBEa718234Ac72f36c1b077a4162
- Market-Neutral 8x BNB-USDT PCS2: 0xFa4B1e50f6EF51D0DaB5c2EEA7434cE6974Fa832 and 0x0d9fAF7023976B45b220b692699C5f5E9432EFD9
- Perpetual Future Exchange fee includes Deposit/Withdrawal fee, Position fee, Swap fee, Liquidation fee and Flash loan fee.
- Based on the actual borrowing interest accrued, the smart contract keeps track of the amount owed to the protocol, which is currently set at 16%. Refer to the Global Parameter page for all of the most up-to-date parameter values.
- The Perpetual Futures Exchange Fee is accrued gradually in the diamondPool address, which will then be transferred to RewardDistributor address daily. Each week, we queue the transactions to make withdrawals on Wednesday to this address for Governance vault rewards distribution on Thursday.
- The withdrawals are executed on Wednesday whereby 10% of the 16% are used for Governance vault rewards distribution.
- This portion of the revenue is a regular income stream. Hence, the entire amount will be distributed to the Governance vault each week.
You can check the Perpetual Futures Exchange fee that is reserved for governance vault rewards distribution in the 0x08B5A95cb94f926a8B620E87eE92e675b35afc7E wallet.
Irregular Incomes Streams are fees that are collected non periodically as this type of fee will be accrued only once a certain event has occurred.
- Early withdrawal fee occurs when users make an early withdrawal from the Governance vault.
- Since the fees are already in ALPACA, there is no buyback associated with this stream of protocol revenue.
- 50% of the early withdrawal fees goes toward Governance vault stakers while the remaining half will be burned.
The Governance vault rewards distribution portion of the early withdrawal fees is stored in: 0xB7d85Ab25b9D478961face285fa3D8AAecAd24a9
In order to check how much in fee has accrued for governance vault rewards distribution, you can do the following:
- Go to “Contract” tab then “Read as Proxy”
- Go to “accumRedistribute”
- The value is denominated in wei (in ALPACA unit), so you must divide by 1E18 to read the value in the normal unit
You can also check all the associated early withdrawal transactions by:
- Go to the “BEP-20 Token Txns” tab. All the “Transfer In” transactions originated from 0xb7d85ab25b9d478961face285fa3d8aaecad24a9
