The current price of Alchemix is $20.7900. Since 00:00 UTC, Alchemix has increased by +0.29%. It currently has a circulating supply of 2,387,995 ALCX and a maximum supply of 2,983,675 ALCX, giving it a fully diluted market cap of $49.74M. At present, the Alchemix coin holds the 246 position in market cap rankings. The Alchemix/USD price is updated in real-time.
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Built on Ethereum, Alchemix is a decentralized finance protocol that allows users to take out collateral-backed loans that are automatically paid off using the yield generated by the collateral. ALCX is the name and ticker symbol of Alchemix protocol's native ERC-20 governance token.
To take out a loan, users must deposit collateral in stablecoins or Ethereum-based tokens in exchange for the protocol's native synthetic token, alToken. The collected collateral is deposited in trusted lending markets or yield-generating vaults, such as yearn.finance. Yields harvested from these vaults automatically pay out users' loans.
Alchemix has implemented several security measures to keep your funds safe, such as security audits by Certik. In addition, the protocol deposits your funds in trusted DeFi protocols like yearn.finance. Alchemix vaults also have an emergency shutdown mechanism to withdraw all funds from yearn.finance and pause deposits if something goes wrong.
To maintain the peg of alTokens, Alchemix has set a limit on how many alTokens can be minted from an underlying asset depending on the asset's technical, market, and legal risk. Alchemix also uses Chainlink oracle price feeds. If the stablecoin's value falls below a certain threshold, users cannot mint, liquidate or repay using the base asset until its price returns to acceptable levels.
With ALCX, you can vote on the protocol's governance via the Alchemix DAO once it is formed. Additionally, yield farming rewards are distributed in ALCX tokens. 10% of all yields collected by Alchemix vaults will go to the Alchemix DAO treasury. ALCX holders will vote on the allocation of these funds, protocol parameters, feature requests, and other matters of the Alchemix DAO.
ALCX price and tokenomics
ALCX does not have a hard-capped supply. ALCX tokens will be released via their emission schedule, reducing the issuance of ALCX tokens over three years and impacting ALCX price charts. Initially, there will be a pre-mine of 478,612 ALCX tokens considering the estimated circulating supply of ALCX tokens is 2,393,060 after three years.
Alchemix DAO treasury will receive a pre-mine of 15% of the projected supply after three years and an additional 5% for bug bounties. The remaining 80% are kept for staking rewards. 16% of all emissions will go to Alchemix founders, on-board developers, and community developers via an exclusive staking pool which will receive 20% of ALCX block rewards. Stakers and liquidity providers will get 80% of ALCX block rewards, equivalent to 64% of all ALCX emissions. After three years, there will be an estimated annual inflation of 4.5% of the ALCX supply, causing an impact on the ALCX price. Alchemix claims that inflation will decrease over time.
About the founders
Alchemix has prominent investors such as DCV, Weak Simp Capital, eGirl Capital, Almeda Research, Magic Ventures, and Ledger Prime. In addition, the project has strategic partnerships with Protoscale Captial, Spartan, GBV, and Delphi Capital.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 129 new posts about Alchemix, driven by 41 contributors, and total online engagement reached 6.2K social interactions. The sentiment score for Alchemix currently stands at 89%. Compared to all cryptocurrencies, post volume for Alchemix currently ranks at 8064. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Alchemix.
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Posts
129
Contributors
41
Interactions
6,150
Sentiment
89%
Volume rank
#8064
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Posts
44
Interactions
5,338
Sentiment
90%
ALCX FAQ
What is ALCX?
Alchemix is an Ethereum-based decentralized finance protocol that gives out self-repaying loans. They do so by giving you their synthetic asset in exchange for your collateral and earning yields off your collateral to pay off your loan. ALCX is the name and ticker symbol of Alchemix's native governance token.
How does ALCX work?
There are two core components in the Alchemix protocol – Vaults and Transmuter. Vaults are smart contracts that offer flexible self-repaying loans in alTokens, Alchemix's synthetic asset. Alchemix Vaults accept DAI as collateral with plans to support a basket of stablecoins. To take out a loan with DAI as collateral, you must deposit DAI into the vault in exchange for alTokens, such as alUSD, valued at up to 50% of your deposited collateral. Your deposited collateral is then sent to yearn.finance's yDAI vault to earn yields to pay off your loan automatically.
Transmuter is the primary pegging mechanism that guarantees a 1:1 redemption of alUSD for DAI, for example. 90% of the yields generated by your collateral in yearn.finance vaults are sent to the Transmuter pool. The yield collected in the pool counts towards the maturation of your loan. As yields accumulate, you can stake your alTokens in the Transmuter to convert your synthetic asset into their base asset.
What is the ALCX price prediction?
While it’s challenging to predict the exact future price of ALCX, you can combine various methods like technical analysis, market trends, and historical data to make informed decisions.
How much is Alchemix worth today?
Currently, one Alchemix is worth $20.7900. For answers and insight into Alchemix's price action, you're in the right place. Explore the latest Alchemix charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Alchemix, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Alchemix have been created as well.
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