| General information | |
|---|---|
| Global rank: | 658 |
| Name: |
Alchemix |
| Symbol: | ALCX |
| Current coin price (SRD): | 548.26 $ |
| Last hour: | arrow_upward1.05 % |
| Last 24 hours: | arrow_downward-2.28 % |
| Last 7 days: | 0.260 %trending_up |
| Capitalisation (SRD): | 1 271 860 567.05 $ |
| Volume 24h (SRD): | 53 993 420.66 $ |
| Available supply: | 2 319 819.00 ALCX |
| Total coin supply: | -1 ALCX |
| Start date: | 2021-02-27 |
Alchemix/Surinamese Dollar (ALCX/SRD) price chart
Alchemix/Surinamese Dollar (ALCX/SRD) capitalisation and volume charts
Alchemix (ALCX) is a native utility token of the Alchemix project, which is a unique decentralized finance (DeFi) platform that allows users to obtain advances on their future yield. Essentially, Alchemix offers self-repaying loans using future yield as collateral.
The Alchemix platform is designed around the concept of a future-yield-backed synthetic asset called alUSD. Users deposit DAI, a stablecoin pegged to the U.S. dollar, into Alchemix's smart contracts. The smart contract then places the deposited funds into yearn.finance vaults, which generate yield over time. This future yield is used to mint alUSD, up to 50% of the deposited amount. The remaining yield generated over time automatically repays the advance, making the loans essentially self-repaying.
The Alchemix (ALCX) token serves multiple purposes within the Alchemix ecosystem. Primarily, it is used for governance, allowing token holders to vote on proposals that affect the protocol, such as modifying system parameters or deciding the direction of future development. ALCX is also used to incentivize user participation in the platform. For instance, users are rewarded with ALCX tokens for providing liquidity or participating in yield farming.
In addition to the governance and incentive functionalities, holding ALCX tokens may offer other benefits as the platform evolves. This may include staking rewards, access to additional features, or eligibility for exclusive opportunities, although specific benefits can vary based on decisions made through the platform's governance process.
Alchemix was created by a team of developers and crypto enthusiasts who chose to remain pseudonymous. The primary developers of the project are known by their pseudonyms 'Scoopy Trooples' and 'n4n0'. While these developers are known to be heavily involved in the Ethereum and DeFi communities, further personal details are not publicly available.