Alpaca Finance
ALPACA
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Alpaca Finance (ALPACA) is a decentralized lending and leveraged yield farming protocol on the BNB Smart Chain that has largely become dormant. Across all sections evaluated, the protocol shows extreme signs of stagnation and demand collapse: active development on the protocol has ceased with zero verifiable signals between 2024 and 2026, community governance has ground to a halt with Snapshot proposals exhibiting near-total drop-offs in turnout, and market capitalization has collapsed by over 99.5% to around $95K-$117K with negligible daily trading volume. While the protocol originally featured reputable audits (CertiK, BlockSec, Inspex) and well-structured tokenomics with fair-launch mechanics, the severe collapse in user activity, liquidity, and governance participation makes it an abandoned asset. No specific qualifying red-flag exploit or regulatory enforcement action was affirmatively established, but the project's broad decay warrants an Avoid rating.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Alpaca Finance (ALPACA)
Alpaca Finance (ALPACA) is a decentralized lending and leveraged yield-farming protocol on BNB Smart Chain (formerly Binance Smart Chain) that has become largely dormant. The native BEP-20 token, ALPACA, was designed for protocol utility and governance, featuring a hard-capped supply of 188 million tokens, decaying emissions, team vesting schedules, and fee-linked buyback-and-burn mechanisms.
The protocol was created to allow liquidity providers to borrow assets to enter leveraged yield-farming positions, while also providing delta-neutral vault strategies and lending pools. Alpaca Finance's smart contract infrastructure has historically undergone audits by third-party security firms including CertiK, BlockSec, and Inspex, covering its core lending protocol, automated vaults, and oracle components.
The project currently exhibits signs of abandonment and demand collapse. Active development on the protocol has stalled, with no verifiable development activity recorded between 2024 and 2026, and community governance has largely ceased following a roughly 97% drop in voter participation by late 2024. Additionally, the ALPACA token has suffered a price drawdown of more than 99.99% from its all-time high, accompanied by negligible daily trading volume and a total market capitalization below $120,000.