Alchemix is a cutting-edge DeFi app that lets you take an instant, 50% loan against your DAI or ETH, while letting 100% of your deposit / capital earn interest to pay it off.
✅ Active community
✅ Active team
✅ Billions $$ locked.
✅ Decentralized, DAO
Why Use Alchemix? 🤔
- DAI deposits = making big purchases, like a boat, in a few years time, it can pay itself off.
- ETH deposits = ETH holders / believers can store it in ALCX for the long term, take out 50% loan of ETH, and basically accumulate free ETH, without needing extra capital. As time goes on and your initial deposit pays off your ETH loan (but it will take a very long time).
- Basically, Alchemix lets 100% of your capital accrue interest, while minting your loan in their native assets, which can be exchanged for anything.
- You don't need to take out a loan, you can also just deposit your DAI or ETH, and collect interest that it generates.
Why Yield Aggregators? 🤔
- Your deposit is being managed by a community / algorithm(s) that put it to work in DeFi, so you don't have to worry about finding new strategies for accruing interest, or be in tune with DeFi.
How Does It Work? 🤔
- Alchemix is built on top of Yearn Finance, a mutual fund for different crypto asset.
- Your deposit get sent to Yearn Finance, which are then put to work in DeFi.
- The interest your deposits earn go towards repaying your Alchemix loan.
- The Alchemix treasury keeps a small % of all interest earned by deposits.
- Your funds are never "locked", even if you take a 50% loan, you can withdraw your remaining 50% initial deposit at any time.
- Alchemix mints their own native tokens to give loans (alUSD, alETH), which you can then exchange for whatever you'd like.
- You don't NEED to take a loan, you can just deposit and enjoy the interest accrued.
What Is The $ALCX Token Used For?
- $ALCX is the governance token for the Alchemix eco-system.
- Any changes, updates are voted on by $ALCX holders (the community)
- Since its a decentralized eco-system, all treasury funds are controlled by $ALCX holders as well.
- It has also been "teased" that $ALCX more than likely will become a revenue sharing token, so holders can directly benefit from the success of Alchemix.
- A magical feature, "the transmuter" leaves no deposits idle, non-borrower funds are used to gain interest and help increase the speed of the repayment of all loans in the eco-system.
- 100% of your deposit earns interest while you take a loan out, made possible by the alUSD, alETH native coins that are minted upon loan requests.
- A safe haven for ETH holders, as alETH allows you to accumulate more $ETH without needing extra capital. (long term holders)
What Are The Risks Of Using Alchemix?
- Bugs, exploits in the smart contracts, are always possible.