What Is Alchemix (ALCX)?
The live Alchemix price today is $251.14 USD with a 24-hour trading volume of $1,490,850 USD. Alchemix is up 3.52% in the last 24 hours. The current CoinMarketCap ranking is #322, with a live market cap of $71,241,565 USD. It has a circulating supply of 283,673 ALCX coins and a max. supply of 478,612 ALCX coins.
If you would like to know where to buy Alchemix Coin, the top exchanges for trading in Alchemix are currently FTX, Gate.io, Hoo, Hotbit, and Gemini. You can find others listed on the crypto exchanges page. Alchemix token is the governance token for the Alchemix protocol.
Alchemix lets you reimagine the potential of DeFi by providing highly flexible instant loans that repay themselves over time. The synthetic protocol token (alUSD) is backed by future yield. Join the growing wave of Alchemy, it’s destiny on your terms!
Alchemix Coin is a platform to create yield-backed synthetic tokens. The requirements for creating such a synthetic token is that any existing token, such as stablecoins or ERC20s, must already have a yield generating mechanism on chain. This could be lending markets, such as Compound or AAVE, or vault-like products, such as the yvDAI Vault, or aLINK Vault.
The Alchemix team are targeting stablecoins for first synthetic token, which will be called alUSD (the al denoting the Alchemix platform). The plan is for alUSD to be mintable from several stablecoins, but the protocol will initially only support DAI. The examples in the following sections for alUSD will apply to other al-Tokens in a near identical way. The dApp contains the following components: Vaults, Transmut.
| Coin Basic | Information |
|---|---|
| Coin Name | Alchemix |
| Short Name | ALCX |
| Circulating Supply | 7,784,449.00 KSP |
| Max Supply | 126,141,000 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Generate
Deposit DAI to mint alUSD, a synthetic stablecoin that tokenizes your future yield.
Automate
Alchemix Yield earned by your collateral from yearn.finance vaults automagically repays your advance over time.
Redeem
Transmute alUSD back into DAI 1-to-1 in Alchemix or trade it on decentralized markets such as Sushiswap or crv.finance.
Alchemic Interactions
Capital Efficient
Alchemix Get instant access to alUSD while your deposit earns interest in the background
Self-Paying Debt Balance
Over time your debt is paid off completely automatically.
Competitive Yield
Alchemix Coin Choose from a growing number of high yield strategies to repay your debt
No Liquidation Risk
No matter what happens we’ll never liquidate your deposit and you’ll keep full access
Low Maintenance
Once you’ve withdrawn your alUSD you can simply let your loan repay itself.
Decentralised / Trustless
Alchemix is built using decentralised smart contracts on the Ethereum network
Yield Farming
Recently, the “Yield Farming” trend has gained popularity. DeFi protocols are incentivizing liquidity and certain user behavior by offering rewards in the form of their governance token. This idea was started by the popular synthetic asset application, Synthetix [3], as a way to incentivize creation of Synths and to provide liquidity bridges into and out of their system.
Then, the trend hit a tipping point when Compound incentivized lending and borrowing by rewarding their COMP token. Surprisingly, these governance tokens have achieved high valuations, so if one factors in the price of the governance tokens they receive, their yield jumps dramatically, often to 20% or higher APY. The second order effect of this is that lending and borrowing demand and rates have increased along with these incentives.
Automated Market Makers
One of the key applications of the DeFi stack is Automated Market Makers (AMMs). The four premier AMMs are Uniswap [4], Curve [5], Sushi [6], and Balancer [7]. The idea is that users deposit liquidity to both sides of a trading pair into these decentralized exchanges and then earn fees when people trade using their liquidity. Uniswap pioneered the concept in 2018 by using ETH as the base trading pair for all tokens on Uniswap, and their latest version allows for any arbitrary two-token pools and smart routing to connect the liquidity in the system. Curve is an AMM that specializes in soft-pegged assets, for example stable coins and the various implementations of Bitcoin on Ethereum.
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