Alchemix is a DeFi application built on the Ethereum network that provides instant loans that can repay themselves over time.
How Does ALCX Work?
Using decentralizing smart contracts, Alchemix allows users to deposit DAI in order to mint a synthetic stablecoin called alUSD, which is then entered into a smart contract and used to earn yield over time. Alchemix offers a number of high yield strategies for the user to choose from. alUSD can be traded 1:1 for DAI or bought and sold on exchanges. Network participants that provide liquidity are rewarded with ALCX , Alchemix’s native governance token.
Note: The Giving Block does not currently support ALCX donations. See all cryptocurrencies supported by The Giving Block.
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