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Alpaca Finance Adds ORBS Token to Its ALPACA Vault

Alpaca Finance Adds ORBS Token to Its ALPACA Vault
  • ORBS Token makes it onto Alpaca Finance’s ALPACA vault.
  • This gives users on the platform access to greater yield farming rewards.
  • Experience leverage in yield farming capabilities.

Over the last few months, the Orbs ecosystem has witnessed substantial growth across all aspects. From listings on Tier-1 exchanges, seamless integrations with prominent cloud platforms, and major partnerships with Moonstake, Bithumb, and others, Orbs is fast becoming a well-known name within the DeFi space.

Platform Users Gain Access to Higher Yield Farming Rewards

Continuing its upward run, Orbs (ORBS) has now secured a place in Alpaca Finance vaults, the largest lending protocol offering leveraged yield farming on Binance Smart Chain (BSC). With this, users who hold ORBS will gain an opportunity to increase their yields by using Alpaca’s Leveraged Farming and Grazing Range features.

ORBS is a cryptocurrency operating on the Ethereum blockchain, with a market capitalization topping $160 million and a circulating supply of 2,229,950,518 tokens. Since the Orbs Syrup Pool launch on PancakeSwap, the ORBS-BUSD pair is now the largest Orbs pool on any decentralized exchange (DEX) and automated market maker (AMM) on both Ethereum and BSC. There has been a significant uptick in Orbs on-chain activity on the Binance Smart Chain, further cementing its place as a top contender in the DeFi ecosystem.

Leveraged Yield Farming Arrives For Orbs Users

Scheduled to launch on July 13th, 2021 at 10:00 AM GMT, the Alpaca pool will also enable users to stake ibALPACA tokens to open leveraged yield farming positions of up to 2x on PancakeSwap’s ORBS-BUSD pair. The well-known pair currently yields 120% APR in CAKE tokens. Moreover, the upcoming campaign will also offer bonus ibALPACA tokens in addition to yield rewards and trading fees.

Users can also use their ibALPACA tokens received from the “leveraged farm” in the Alpaca Grazing Grounds to earn ORBS over four weeks. “Leverage farming” means that users can borrow external liquidity and add it to their liquidity in the pool. As a result of having more liquidity to yield farms, it allows users to earn several rewards on top of one another.

However, it also means that users have to borrow assets for opening larger positions and must also cover the corresponding lending costs. The more leverage users opt for, the higher the exposure to the risk of liquidation. Along with multiple rewards, leveraged yield farming comes with significant risks, which is why both Orbs and Alpaca suggest that users review the documentation and risks before investing.

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