The Perp product will launch on Thur, 9 March 2023 with the following sequences.
The beta launch phase will last for 2 weeks from March 9th - March 22nd. Given that the Perp product is very different from leveraged yield farming, we believe a beta launch will give our users a chance to try out the product and for our team to work on feedback received and make any necessary changes before the full-scale launch.
The following functionalities will be available at launch:
- Up to 50x leverage trading, supporting market, limit, stop entry, stop loss, and take profits orders
- *Please note that trading will be temporarily 0-fee, more info later below
- Deposit / Withdraw liquidity to the ALP pool
- Staking ALP token for ALPACA incentive rewards
- Swap between the five assets in the ALP pool
- Flash loan
- Referral program; anyone can start generating and entering referral codes. However, note that referral rewards tracking will only start after the 0-fee trading campaign is over (more details below.)
For ALPACA investors, don’t expect TVL to be too high during the beta phase, which is intentional. We will start promoting the product more at the end of this phase, and increase rewards to attract more TVL.
Users will be able to start depositing assets into the liquidity pool. To attract initial liquidity, we are turning off the deposit fee during the beta launch. So make sure to set your alarm and don’t be late!
ALPACA rewards emissions will start approximately 1 hour after we open the LP pool. You will be able to stake your LP tokens to earn ALPACA rewards on the Stake Page which you can claim anytime with immediate liquidity.
We are providing a lower emission rate during the beta phase and will increase the rate at the start of the full-scale launch in week #3.
A total of 680k ALPACA (~$210k) will be distributed to Liquidity providers over a 10-week period
Rewards Start Date: 9 Mar 2023 10.00 AM UTC
Rewards End Date: 18 May 2023 10.00 AM UTC
Users will be able to open long/short positions up to 50x leverage on BTCB, ETH, and BNB.
Users will also be able to swap between any of the five assets (BTC, ETH, BNB, USDT, USDC) in the liquidity pool.
At launch, we will support market, limit, stop entry, stop loss, and take profit orders.
For the first four weeks of launch (9 March 2023 - 11.59 PM UTC 5 April 2023), users will be able to open and close leveraged trading positions for FREE, as long as the positions are opened for longer than 15 minutes.
Note: You will pay trading fees when you execute trades. However, all the qualified fees paid will be rebated back to you in full on a weekly basis every Thursday. You will be able to claim the rebates directly on the website.