DEXes · Review

Active

Alpaca DEX Review 2026: Identity-Verified DEX on Keeta

Alpaca DEX is a non-custodial exchange and token launchpad built natively on the Keeta network, with identity-verified token launches. It is new and small, with no audits listed.

Other

By the DappsAtlas editorial team · Updated Nov 5, 2026

DappsAtlas score

5.5/10

Mixed

Visit Alpaca Dex

Our verdict on Alpaca Dex

5.5/10

Alpaca DEX suits early adopters of the Keeta network who want a native exchange and a launchpad where creators are identity-verified. Its main strength is the on-chain KYC and KYB design, which may make token launches more accountable than on anonymous launchpads. The main caveat is maturity: TVL is only about $25,700, no audits are listed, fees are not published, and the real-world asset features are still planned. Treat it as an experimental venue and size positions accordingly.

Score breakdown

How Alpaca Dex scores

Security: 4.5/10
Ease of use: 6.5/10
Fees: n/a
Features: 6.5/10

Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.

What is Alpaca Dex?

Alpaca DEX is a decentralized exchange and token launch platform built on the Keeta network. It combines token swaps, liquidity pools and a launchpad called PacaLaunch, and it describes itself as the liquidity layer for Keeta's open economy.

Its main selling point is identity. Tokens launched through PacaLaunch are tied to a verified creator through Keeta's on-chain KYC and KYB, which the project says reduces anonymous rug pulls. Verified creators and businesses get public badges.

The project was listed in February 2026 and holds about $25,700 in TVL. It lists a token, PACA, and no audits. A real-world asset market is described as coming soon. It should not be confused with Alpaca Finance, an older and unrelated leveraged yield farming protocol on BNB Chain that appears in public reporting.

How Alpaca Dex works

Alpaca DEX is a decentralized exchange on the Keeta network. Users connect a wallet and swap tokens directly on-chain without handing custody to the platform. Liquidity providers deposit tokens into pools and earn a share of trading fees.

PacaLaunch is the launchpad. A creator configures a bonding curve, which sets how the token price rises as people buy, and sets fundraising targets for liquidity and project funds. When the curve completes, liquidity is created and locked automatically, and the token begins trading on the DEX, optionally at a listing premium.

The distinguishing feature is identity. Alpaca uses Keeta's native on-chain KYC and KYB so that token launches and liquidity provision can be tied to a verified identity. The project argues this discourages anonymous rug pulls, while trading stays open to everyone. Real-world asset tokenization is on the roadmap but not live.

7 features

Key features

Non-custodial token swaps

Swap tokens on-chain on Keeta while keeping custody of your assets. The project cites throughput of over 11 million transactions per second for the network.

Liquidity provision

Users can provide liquidity and earn trading fees from swaps in the pools they supply.

PacaLaunch launchpad

Creators choose from multiple bonding curves, set fundraising targets, and raise for both liquidity capital and project funding in one launch.

Zero upfront launch cost

Launching a token needs no capital from the creator. Liquidity is created and locked automatically when the bonding curve completes.

Listing premiums

Launches can be configured so the DEX listing starts a set percentage above where the bonding curve ended.

On-chain identity verification

Keeta's native on-chain KYC and KYB tie tokens to verified creators, and verification badges make verified projects visible to traders.

Mobile and web apps

The project offers iOS and Android apps plus a web app, and mentions an extension API.

Pros and cons

What we like

Native on-chain KYC and KYB tie token launches to verified identities, which can deter anonymous rug pulls.
PacaLaunch has no upfront cost, with bonding curves and automatic liquidity locking after the curve completes.
Non-custodial design means users keep control of their assets.
Web, iOS and Android apps are available.
Combines swaps, liquidity provision and a launchpad in one product.

Watch out for

TVL is small, at roughly $25,700 with a 5.3% drop over the past week, so liquidity is shallow and large trades may move prices.
No audits are listed, so smart-contract risk is unquantified.
The project went live in February 2026 and has little track record.
Keeta is a niche network, so the user base and token pairs are limited compared with larger DEX ecosystems.
The anti-rug-pull claim depends on creators being identified, which reduces but does not remove the risk of a failed or abandoned token.
The RWA features are only planned and not available yet.

Alpaca Dex fees

Alpaca DEX does not publish a fee schedule on its homepage. It says liquidity providers earn trading fees, but the rate and the split are not stated there. Users should check the swap preview in the app before confirming a trade.

PacaLaunch is advertised as having zero upfront cost for creators. Any fees taken from the bonding curve or at listing are not described on the homepage. Network transaction costs on Keeta are also not stated.

Is Alpaca Dex safe?

The homepage describes the exchange as non-custodial, so funds sit in the user's wallet rather than with the platform. No audits are listed, and the project does not publish details on its team, security reviews or a bug bounty on the homepage. Smart-contract risk is therefore unquantified.

TVL is small and the protocol is new, so liquidity is thin and price impact can be large. The identity layer lowers some rug-pull risk but does not guarantee a token's value. Keeta is also a relatively new network, which adds platform risk. Do not confuse this project with Alpaca Finance, which has a different token.

6 steps

How to get started with Alpaca Dex

1
Open the web app from the official site, or download the iOS or Android app.
2
Set up a wallet compatible with the Keeta network and keep the recovery phrase offline.
3
Fund the wallet with KTA or another token supported on Keeta.
4
Start with a small swap and review the quoted price, fees and slippage before confirming.
5
To add liquidity, pick a pool, read how fees are earned, and consider the risk of impermanent loss.
6
To launch a token, complete the KYC or KYB verification and configure the bonding curve and fundraising targets.

Open Alpaca Dex

Who Alpaca Dex is for

Alpaca DEX is for users already active on Keeta who want to swap tokens, provide liquidity or launch a token without upfront capital. It also suits people who prefer launchpads with verified creators. Those who need deep liquidity, audited contracts or a long track record may prefer to wait.

Alpaca Dex FAQs

What is Alpaca DEX?

Alpaca DEX is a decentralized exchange and token launch platform on the Keeta network. Users can swap tokens, provide liquidity to earn trading fees, and launch tokens through a bonding-curve launchpad called PacaLaunch.

Which blockchain does Alpaca DEX use?

It runs on Keeta, a separate network from Ethereum or BNB Chain. Some public reporting mentions other chains, but those appear to relate to the unrelated Alpaca Finance project, not this one.

Is Alpaca DEX safe?

The homepage describes it as non-custodial, so users keep control of their assets. The project lists no audits, and TVL is only around $25,700, so users should treat it as an early-stage protocol and risk only what they can afford to lose.

What is PacaLaunch?

PacaLaunch lets creators launch a token with no upfront cost, using a configurable bonding curve. When the curve completes, liquidity is created and locked automatically and the token goes live on the DEX, optionally at a listing premium.

Does Alpaca DEX require KYC?

Every token launched through PacaLaunch is tied to a verified identity through Keeta's on-chain KYC or KYB. The idea is that creators with their identity on the line are less likely to rug-pull. The project does not claim it removes risk entirely.

Does Alpaca DEX have a token?

The project lists a token called PACA. Its tokenomics are described on a separate page of the project site, and details are not covered here.

Compare

Alpaca Dex alternatives

All alternatives

Hydration DEX

DEXes

Hydration is a DeFi appchain combining a DEX, lending and the HOLLAR stablecoin, aimed at users who want yield and liquidity strategies in one place.

TVL $23.7M−1.9%Other

Uniswap V3

DEXes

Uniswap V3 is a non-custodial decentralized exchange protocol for token swaps and concentrated liquidity provision across 40+ chains.

TVL $1.51B−3.7%Ethereum · Base · Arbitrum +38

Uniswap V4

DEXes

Uniswap V4 is the latest Uniswap DEX version with hooks and concentrated liquidity, running on 22 chains for self-custody token swaps and liquidity provision.

TVL $1.14B−2.9%Ethereum · Robinhood Chain · Base +19

Uniswap V2

DEXes

Uniswap V2 is a non-custodial automated market maker DEX on 17 chains for token swaps and liquidity provision, with about $938M TVL.

TVL $864M−4.1%Ethereum · Base · Polygon +14

PancakeSwap AMM V3

DEXes

PancakeSwap AMM V3 is a multichain decentralized exchange using concentrated liquidity pools, for traders and liquidity providers, led by BNB Chain.

TVL $694M−2.5%BNB Chain · Ethereum · Base +8

Gala Swap

DEXes

Gala Swap is a non-custodial DEX on GalaChain for swapping Gala ecosystem tokens and earning fees through concentrated liquidity pools.

TVL $2.96M−4.8%Other

Same category

More DEXes

DEXes rankings

Curve

DEXes

Curve is a decentralized exchange on Ethereum built for low-slippage swaps of stablecoins and similar assets, with CRV governance and a crvUSD stablecoin.

Ethereum