Alchemix ALCX

1. Summary

Ranks

Liquidity

95

Developer

-

Social

87

Momentum (beta)

61

Stack Rank™

-

Price

$21.17 +2.6%

Market Cap

$49.88M (#736)

Supply

2.35M / 2.96M

Tags

Yield Farming DeFi Near Protocol Ecosystem Lending/Borrowing Olympus Pro Ethereum Ecosystem eGirl Capital Portfolio Alameda Research Portfolio Delphi Digital Portfolio Spartan Group Portfolio

More Metrics

Price
52W High price	$40.75
52W High date	14th Mar 2024 (8 months ago)
All Time High (ATH) Date	20th Mar 2021 (3 years ago)
ATH Price	$2,066.20
% From ATH	-99.32%
All Time Low (ATL) Date	11th Sep 2023 (1 year ago)
ATL Price	$10.29
% From ATL	36.13%

Supply & Trading Volume
Trading Volume (24h)	$4.86M
Total Supply	2.96M
Max Supply	2.96M
Circulating Supply	2.35M

Less Metrics

Description

Governance and Management

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Governance and Management

Alchemix is governed by its decentralized autonomous organization (DAO), which is responsible for overseeing the protocol. The DAO holds the liquid governance token, ALCX, and is currently operated through a developer multisig that holds certain administrative powers. Governance actions begin by collecting sentiment through discussions with the community, followed by formal proposals on the Alchemix forum and then voting on the Alchemixed Opinions Snapshot platform. For a proposal to be successful, it must receive more than 50% of non-abstain votes and a quorum of 5,000 ALCX tokens voting.

Token Overview

Alchemix token (ALCX) is the native governance token for the Alchemix protocol. It is an ERC-20 token released in 2021 and has a total supply cap of approximately 2.39 million tokens after three years. ALCX holders possess governance rights, enabling them to participate in voting on proposals affecting the protocol. Users can stake ALCX in the Alchemix DAO to earn additional tokens and accumulate voting points used for governance decisions.

Project History and Development

Alchemix was created by a group of pseudonymous developers, including Scoopy Trooples, Dr. Derivative, Nomad, Snape, technocratic, Gorby, and Nano. The project began in 2020, and since then, it has grown to encompass a diverse team of core developers, part-time staff members, and community supporters. Alchemix received $4.9 million in funding from reputable investors, including eGirl Capital, DCV, Alameda Research, and Immutable Capital.

Key Features

Alchemix is distinguished by its innovative self-repaying loan mechanism. Users can deposit collateral into a DeFi smart contract vault to mint synthetic assets, such as alUSD and alETH, against which loans can be taken. The vaults employ various yield strategies, including on Yearn, to generate yield. This yield is then used to automatically repay the borrower's loan balance over time, effectively self-repaying the debt.

Alchemix Vaults

Alchemix vaults are the core DeFi smart contracts that manage the lending and borrowing processes. Users deposit collateral into these vaults, such as DAI and ETH, to mint synthetic assets that can be borrowed against. The vaults deploy these assets into yield-bearing strategies to generate income, which offsets the borrowed amount.

Alchemix V2 and Future Developments

The Alchemix team is actively working on the release of Alchemix v2, which is expected to bring new yield strategies, collateral types, and features like payment streaming. The roadmap includes expanding the platform to other EVM-compatible chains and further decentralization through the implementation of the AlchemixDAO. The Alchemix community is encouraged to engage in governance and participate in the development of the protocol.

Community and Support

Alchemix fosters a supportive community where members are actively involved in governance and suggestions for improvement. The community is encouraged to propose changes and participate in the governance process through the Alchemix forum and Snapshot voting. The project has garnered significant support from strategic partners and investors, including leading names in the DeFi ecosystem.

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