The ALPACA token is integral to the Alpaca Finance platform, a decentralized finance (DeFi) service offering leveraged yield farming and lending. As an ERC-20 token, it’s compatible with numerous Ethereum-based entities. It’s used for governance, allowing token holders to vote on platform development. Users can stake ALPACA tokens to earn rewards, typically additional ALPACA tokens or tokens from partnered projects. The tokens also incentivize actions like providing liquidity or participating in specific farming pools. Some features may require ALPACA tokens as collateral.
