Fangyuan Li

Directed the technical specification and on-chain implementation choices that established Alpaca’s core proposition: lending-backed leveraged yield farming. Key contributions included defining collateralization rules, liquidation thresholds, margin call behavior and integration points with BSC AMMs. Responsible for authoring and overseeing the smart contract set that implemented Vaults, Borrow positions and reward distribution logic, those deployment decisions determined how leverage scaled, how users interacted with pooled positions, and how impermanent loss and liquidation risk were allocated. Authored the initial ALPACA tokenomics and distribution plan used for bootstrap liquidity mining, team allocations and governance allocations. Those documented token parameters influenced early incentive schedules and the pace of token unlocking, which in turn affected market sell pressure and staking participation across the first several months after launch. Operationally involved in coordinating early audits and bug-fixes, liaising with integrators and listing partners, and guiding emergency responses to exploit scenarios. Technical ownership over upgradeable components and governance proposals shaped subsequent protocol upgrades, risk-parameter adjustments and the roadmap for multi-pool support across BSC, directly impacting how the ALPACA token functioned within the protocol’s economic system.