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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
- AF1.0's Lending performance fee accrues in each lending vault based on the actual borrowing interest incurred.
- Based on the actual borrowing interest accrued, the smart contract keeps track of the amount owed to the protocol, which is currently set at 19%. Refer to the Global Parameter page for all of the most up-to-date parameter values.
- The accrued fee is withdrawn once a week from the vaults. Each week, we queue the transactions (one for each lending vault) to make withdrawals on Saturday, which then have to go through the 24-hour timelock.
- The withdrawals are executed on Sunday whereby 6% of the 19% 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.
In order to check how much in fees has accrued in each vault, you can do the following:
- Go to BscScan and enter the vault contract address
- Go to “Contract” tab then “Read as Proxy”

- Go to “reservePool”

- The value is denominated in wei, so you must divide by 1E18 to read the value in the normal unit.

Note: Please note that these are the accrued fees that have NOT been withdrawn. Thus, if you check them right after the weekly withdrawals (e.g., Monday morning), they will have a low value.
AF1.0's Lending Vault Contract Addresses:
BNB Chain:
Fantom:
- 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: