BNB Chain
How to withdraw from Alpaca Finance after the shutdown (2026)
Alpaca Finance announced in May 2025 that it would wind down. The website stayed up for withdrawals until December 31, 2025 and is now offline. The lending vaults and the FairLaunch staking contract still work, so deposits can be withdrawn by calling the contracts directly.
- Website: offline since the end of 2025
- FairLaunch staking and the lending vaults: still working on BNB Chain
- Most vaults can pay out in full; ibBUSD and ibUSDC have no cash left (bad debt), ibBTCB and ibETH are practically empty
How to withdraw
- ibTokens staked in FairLaunch
- FairLaunch.withdrawAll(_for = your address, _pid) returns your ibTokens (plus any pending ALPACA rewards). It must be sent from the address that staked (fundedBy).
- ibTokens in your wallet
- Vault.withdraw(share) on the ibToken contract burns the ibTokens and pays out the underlying (native BNB for ibBNB). share is in wei (18 decimals).
Contracts
- FairLaunch: 0xA625AB01B08ce023B2a342Dbb12a16f2C8489A8F
- ibBNB vault: 0xd7D069493685A581d27824Fc46EdA46B7EfC0063
- ibUSDT vault: 0x158Da805682BdC8ee32d52833aD41E74bb951E59
- ibCAKE vault: 0xfF693450dDa65df7DD6F45B4472655A986b147Eb
Verify every address against the official sources below before sending a transaction.
FAQ
Can I still withdraw without the Alpaca website?
Yes. The contracts are still live. Unstake from FairLaunch with withdrawAll, then redeem your ibTokens with withdraw on the vault. DeadBags shows the exact values for your address.
Why does my ibBUSD position show as not withdrawable?
The ibBUSD vault holds 0 BUSD in cash; its remaining value is debt that was never repaid. Nothing can leave it until that changes.
What is fundedBy?
FairLaunch records which address paid for a stake. Only that address can unstake it. If someone else staked for you (for example an aggregator contract), that address has to do it.
Do I need BNB?
Yes, a tiny amount for gas, usually well under 0.001 BNB for both steps.
Are leveraged farming positions covered?
No. Alpaca closed active positions in mid-2025. DeadBags currently covers lending vault deposits and FairLaunch stakes.