Alchemix pioneers decentralized finance with self-repaying loans, synthetic assets, and community-driven governance for unparalleled innovation in DeFi. More
| Fully Diluted Valuation | $29.81M |
|---|---|
| 24H Trading Volume | $2.30M |
| 24H Low / High | $9.15 / $ 9.68 |
| Circulating Supply | 2.48M |
| Total Supply | 3.08M |
| Max Supply | 3.08M |
| Categories | Decentralized Finance (DeFi) 9 more |
|---|---|
| Founder | Scoopy Trooples |
| Website | alchemix.fi |
| Socials | 1 more |
| Chains | Ethereum Ecosystem 1 more |
| Explorer | Nearblocks 3 more |
| Contracts |
0xdbd....0c8df
1 more
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| Name | Pair | OG Score |
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In the fast-evolving landscape of decentralized finance (DeFi), Alchemix stands out as a trailblazer, offering a unique financial platform that introduces self-repaying loans. Launched in February 2021 by a team of pseudonymous developers led by Scoopy Trooples, Alchemix provides users with the ability to leverage various tokens without the inherent risk of liquidation. It marks a significant advancement in DeFi with its innovative same-asset loan product, facilitating collateralized borrowing while ensuring no liquidations and providing unparalleled flexibility for users.
At its core, Alchemix Finance operates as a synthetic asset protocol and community DAO, underpinned by the Alchemix token (ALCX). This governance token empowers users to actively participate in shaping the platform's future. Alchemix token holders have a say in the development and governance of the protocol, reinforcing the platform's commitment to decentralization. The platform's synthetic tokens, such as alUSD, are minted by leveraging existing tokens with on-chain yield generation mechanisms, like stablecoins or ERC20s. The protocol not only allows users to earn yield on their collateral but also automatically repays their loans, setting a new standard in DeFi innovation.
Despite facing challenges early on, such as an incident involving the ETH vault, where users were able to withdraw collateral without repaying loans, Alchemix demonstrated resilience. The team initiated a community-driven campaign, encouraging users to return lost ETH in exchange for exclusive rewards, showcasing the strength of the Alchemix community. Looking ahead, Alchemix is poised to further embrace decentralization by transitioning into a DAO controlled solely by the community. With plans to divert a portion of the overall yield to the DAO treasury for sustainable growth, Alchemix continues to shape the future of decentralized finance with its groundbreaking solutions.
Alchemix (ALCX) stands out for introducing self-repaying loans and synthetic assets, offering collateralized borrowing without liquidation risks in the decentralized finance (DeFi) space.
Alchemix was founded by pseudonymous developers led by Scoopy Trooples, who have been instrumental in pioneering innovative solutions in the DeFi sector.
Alchemix has garnered support from The Spartan Group, Delphi Digital, CMS Holdings, GBV Capital among others.
You can buy Alchemix (ALCX) on Binance, Gate.io, Coinbase, Kraken, Crypto.com cryptocurrency exchanges.
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