Alchemix

ALCX

Donate
Alchemix
Alchemix is a DeFi (decentralized finance) lending protocol.   Alchemix offers a new method of debt repayment. The debt owed by the users is reduced over time using the deposit's yield. The longer you keep your deposit, the more yield you'll be able to generate and, as a result, the more of your loan will be repaid. Alchemix essentially streamlines the following two tasks: Take an advance on your future profits, and then automatically pay it back. This can be very useful if you need money right now but don't want to sell your cryptocurrency. This is can be either because you  may not want to give up the earnings you have been making, or you may be doing this because of the tax consequences associated with selling crypto. In other words, Alchemix allows you to borrow money against the potential value of your cryptocurrency, and it repays you without requiring you to keep a close eye on it. Alchemix also gives you the option to repay your loan at any time using your collateral if you're concerned about locking up your collateral. Users can deposit DAI stablecoins into Alchemix's current version to create the stablecoin "alUSD." You are permitted to borrow up to 1 alUSD for every 2 DAI provided as collateral. The DAI that has been deposited into the Alchemix smart contracts is subsequently transferred to the Yearn vaults, where they can instantly begin earning yield. Then, this yield can begin automatically reducing your debt. ALCX is the name of the protocol's governance token.
Learn More
The Information on the Engiven website is provided for educational & informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The Information contained in or provided from or through this website is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice.

Would you like to donate or accept a cryptocurrency not listed?

Learn More