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Home » Blog » What Is Alchemix (ALCX) Defi Review Complete Guide & Review About Alchemix
DEFI

What Is Alchemix (ALCX) Defi Review Complete Guide & Review About Alchemix

Cws Team
Last updated: 31/12/2022 3:51 PM
Cws Team
4 years ago
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Disclosure: We are not a registered broker-dealer or an investment advisor. The services and information we offer are for sophisticated investors, and do not constitute personal investment advice, which of necessity must be tailored to your particular means and needs. !
What Is Alchemix (ALCX)? Complete Guide & Review About Alchemix
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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.

Contents
  • What Is Alchemix (ALCX)?
    • Generate
    • Automate
    • Redeem
    • Alchemic Interactions
      • Capital Efficient
      • Self-Paying Debt Balance
      • Competitive Yield
      • No Liquidation Risk
      • Low Maintenance
      • Decentralised / Trustless
    • Yield Farming
    • Automated Market Makers
    • Disclaimer:

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.

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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 Supply7,784,449.00 KSP
Max Supply126,141,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter Page Click Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
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

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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

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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.

Disclaimer:

Not All The Websites Which Listed In Top List Are 100% Safe To Use Or Investment. We Do Not Promote Any Of Those. Due Diligence Is Your Own Responsibility. You Should Never Make An Investment In An Online Program With Money You Aren’t Prepared To Lose. Make Sure To Research The Website. So Please Take Care Of Your Investments. And Be On The Safe Site And Avoid Much Losing Online.

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One of Coinworldstory's longest-tenured contributors, and now one of our editors, Verna has authored over 2600+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies. Verna Is team Members of 9 People
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