Alchemix is a DeFi protocol that allows for the creation of synthetic tokens that represent the future yield of a deposit. It enables users to retrieve near instant tokenized value against temporary* deposits of stablecoins. A magic money potion if y...Moreou will, however one that is crafted in Defi with perhaps a sprinkling of ancient wisdom(!). The protocol presents a powerful new DeFi primitive offering myriad applications for users and an exciting new tool for other developers. Version one of the Alchemix protocol will be launched with a synthetic derivative, “alUSD,” which will be mintable using DAI (other stablecoins to follow). To mint alUSD, users deposit DAI into the Alchemist smart contract via our hosted UI and can then mint alUSD, up to 50% the deposited amount of DAI at a 1:1 ratio. The deposited DAI is deployed to yearn vaults to earn yield. Alchemix is full of possibilities... your funds aren’t imprisoned in some medieval way. Once deposited, funds are committed to earning yield which will eventually, automatically pay back user debt.
A quick snapshot of Alchemix ROI (return on investment) over different time periods.
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Check the historical data and price changes on Coingecko.com
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Project announcements and news have a significant impact on the price. Below are live updates from Alchemix's Twitter and Reddit accounts.
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