Alchemix

ALCX Price

About Alchemix (ALCX)

Alchemix is a decentralized finance protocol that enables the creation of yield-backed synthetic assets to provide users with interest-free, self-repaying loans.

• Interest-Free Borrowing: Users can borrow up to 90% of their collateral value in synthetic assets without the risk of price-based liquidations.
• Automated Repayment: The protocol uses Mix-Yield Tokens (MYT) to aggregate and rebalance yield strategies across various DeFi platforms.
• Governance Driven: ALCX serves as the governance token, allowing holders to direct protocol parameters and strategy selection via the Alchemix DAO.

What Is Alchemix

Alchemix is a lending platform designed to give users access to future yield today. By depositing collateral such as ETH or USDC, users can mint synthetic assets (alAssets) like alETH or alUSD. These synthetic assets represent a loan against the user's collateral, which is then deployed into yield-generating strategies across the ecosystem.

Value moves through the system as the yield earned by the collateral is automatically directed to repay the user's outstanding debt. This mechanism effectively creates a self-repaying loan where the debt decreases over time without requiring manual payments. The ALCX token is put to work as a governance tool, where stakers and holders participate in the Alchemix DAO to vote on protocol upgrades, reward emissions, and the inclusion of new yield-generating strategies. As the ecosystem grows and more collateral is deposited, the protocol scales by increasing the total liquidity available for its synthetic assets and expanding its yield-capture footprint.

What Makes Alchemix Unique

• Self-Repaying Mechanism: Unlike traditional lending platforms that require manual interest payments, Alchemix automates debt reduction using the yield generated from collateral.
• No Price-Based Liquidations: Because loans are issued in synthetic versions of the collateral (e.g., borrowing alETH against ETH), users are protected from liquidations caused by market price fluctuations.
• Temporal Leverage: The protocol's redemption engine uses earmarking to strengthen synthetic asset pegs while allowing collateral to continue earning yield until the point of maturity.
• Mix-Yield Tokens (MYT): Alchemix v3 introduces MYT, which simplifies yield farming by aggregating multiple strategies into a single, DAO-managed token.

What Can You Use Alchemix for?

• Liquidity Access: Borrow up to 90% Loan to Value (LTV) against deposited assets to fund operations or purchases without selling core holdings.
• Fixed-Yield Generation: Use the Transmuter to deposit alAssets and redeem the underlying collateral 1:1 at a fixed maturity date, locking in predictable returns.
• Diversified Yield Farming: Hold Mix-Yield Tokens to gain exposure to a curated basket of DeFi yield strategies rebalanced by the protocol.
• Governance Participation: Use ALCX tokens to vote on DAO proposals, influencing the technical direction and financial parameters of the protocol.

How Does Alchemix Work?

Alchemix operates through a system of vaults, transmuters, and synthetic assets. When a user deposits collateral into an Alchemist vault, the protocol issues an equivalent synthetic asset. This collateral is then deposited into external yield-bearing protocols such as Aave, Curve, or Yearn Finance. The yield generated from these external sources is harvested by the Alchemix protocol and applied toward the user's debt.

The Transmuter ensures the peg of synthetic assets by allowing users to redeem alAssets for the underlying collateral over a fixed period. This creates an arbitrage opportunity that helps keep the synthetic assets trading near parity with their counterparts. As an application utility token, ALCX does not function as network gas; instead, any protocol service fees or reward distributions are managed through the Alchemix DAO to maintain the health of the lending ecosystem.

Team Info and Investors

Alchemix is governed by the Alchemix DAO, a community-led organization that manages the protocol's treasury and technical upgrades. The project was launched in early 2021 by a team of developers focused on expanding the utility of decentralized lending. While the project is community-driven, it has received backing and recognition within the DeFi space, including involvement with portfolios such as eGirl Capital, Alameda Research, and Delphi Ventures. The source material does not specify individual founder names or detailed early-stage funding amounts.

Where can you buy Alchemix?

ALCX tokens can be traded on centralized crypto exchanges and decentralized exchanges. The most popular exchange to buy and trade Alchemix is Binance, where the most active trading pair ALCX/USDT has a trading volume of $742,234.57 in the last 24 hours. Other popular options include Sushiswap and Coinbase Exchange.

What is the daily trading volume of Alchemix (ALCX)?

The trading volume of Alchemix (ALCX) is $3,194,643.03 in the last 24 hours, representing a 502.60% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Alchemix (ALCX)?

Alchemix (ALCX) reached an all-time high of $2,066.20 and an all-time low of $2.49. It’s now trading -99.90% below that peak and 7.30% above its lowest price.

What is the market cap of Alchemix (ALCX)?

Market capitalization of Alchemix (ALCX) is $6,582,958 and is ranked #1364 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of ALCX tokens (2.5 Million tokens are tradable on the market today).

What is the fully diluted valuation of Alchemix (ALCX)?

The fully diluted valuation (FDV) of Alchemix (ALCX) is $8,254,547. This is a statistical representation of the maximum market cap, assuming total number of 3.2 Million ETH tokens are in circulation today.

How does the price performance of Alchemix compare against its peers?

With a price decline of -27.80% in the last 7 days, Alchemix (ALCX) is underperforming the global cryptocurrency market which is down -5.50%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.

How to add Alchemix (ALCX) to MetaMask?

Adding Alchemix (ALCX) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import ALCX as a token. You can copy ALCX’s contract address (0xdbdb4d16eda451d0503b854cf79d55697f90c8df) and import it manually, or if you've installed MetaMask's chrome extension, add ALCX to MetaMask with one click on CoinGecko.

Add ALCX to MetaMask.