The ALCX price update as of now is $20.04. In the previous 24 hours, its trading volume was $2,585,341, and its value has decreased by -4.43%. As of now, ALCX's live market cap is $56,720,205, and it is ranked as the #528 on the Coincu. ALCX has a circulating supply of 2,957,494 and a maximum supply of 2,957,494.

The Emergence of Alchemix

With the constant emergence of lending platforms, crypto investors now have various opportunities to generate additional income from their idle funds. Among these platforms is Alchemix (ALCX), a unique project that offers borrowers the ability to mortgage assets without the risk of liquidation.

An Introduction to Alchemix

Alchemix Finance is a decentralized borrowing platform built on the Ethereum blockchain. It allows users to deposit funds and borrow assets in the form of Synthetic tokens. These tokens are automatically repaid over time using the interest generated on the collateral. By doing so, users can access the yield of their collateral upfront without the fear of liquidation.

Main Features of Alchemix

Project Objectives of Alchemix

Alchemix enables users to stake their tokens and receive equivalent tokens representing their mortgaged debt. Additionally, users have the convenience of instantly restoring or retrieving the cryptographic value of their deposited tokens. This feature enables automatic payment or repayment of crypto debts for both borrowers and lenders. Moreover, Alchemix utilizes the profits earned from deposits to facilitate repayment to its users.

Aside from its DeFi activities, Alchemix provides users with income from the arbitrage mechanism of the aggregate asset value obtained through transactions on the platform. This unique profit mechanism sets Alchemix apart from others in the space.

The primary goal of Alchemix is to help users avoid selling tokens they intend to hold in the long term. Instead, they can collateralize their tokens and invest a smaller amount of collateral in other projects. Notably, Alchemix ensures that no customer mortgages are liquidated.

The operation of Alchemix can be simplified into three stages:

• Stake tokens in the Alchemix system.
• Up to 50% of the deposit value can be borrowed.
• Profitable deposits automatically repay the loan over time.

Unique Selling Point of Alchemix

Alchemix offers a range of features related to financial lending, including Farm, Vaults, ALCX Token, Transmuter, and DAO.

The Alchemix Vaults

The Vaults feature provided by Alchemix serves as a hub for generating profits. It is similar to other lending platforms like AAVE and MakerDAO. Vaults accept DAI as collateral.

Users can stake DAI into the Vaults contracts, and the stablecoin will be deployed by the Alchemix Smart Contract to earn profits in the Yearn yvDAI Vault.

The Alchemix Transmuter

The Transmuter available on the Alchemix platform acts as the main anchor for their synthetic tokens. This mechanism ensures that all participants can exchange alUSD for DAI tokens at a 1:1 ratio.

When users deposit alUSD into the Transmuter, profits are credited to DAI users proportionally based on their deposit amount. Withdrawing DAI results in an equivalent amount of alUSD being "burned".

The Alchemix Treasury

The Alchemix vault operates on a mechanism where 90% of the profits earned go to Vaults and Transmuter, while the remaining 10% goes to the treasury.

Profits are distributed as follows:

• 60% of ALCX tokens are distributed to the community.
• 15% of the supply is community-controlled and dedicated to the DAO.
• 5% of the supply is allocated as a bounty for bug discovery and reserved for the DAO.
• The rest is allocated to Farming.

The Alchemix DAO

The Alchemix DAO serves as a developer Multisig and provides notifications via the Snapshot app. Holders of the ALCX token have administrative rights regarding protocol decisions and treasury usage.