Alchemix is a future-yield-backed synthetic asset platform and community DAO built on the Ethereum blockchain.
The platform benefits your yield farming via a synthetic token that represents a fungible claim on any underlying collateral in the Alchemix protocol. It provides highly flexible instant loans that repay themselves over time.
The main features include:
You can deposit DAI to mint alUSD, a synthetic stablecoin that tokenizes your future yield.
The Total Deposit User represents the total number of unique users who deposit in Alchemix, and the Total Deposit Volume means the total value of DAI deposited in Alchemix to mint alUSD. The total deposit volume has just reached ATH in April. Afterwards, the daily volume keeps under $50M.
And you can borrow up to 50% the value of your collateral in alUSD. Your debt will be automatically paid down by yield from Yearn.Finance. The deducted amount is based on the Harvested Yield Return that Alchemix earned by your deposit volume.
The graph above shows the Alchemix’s total earning from Yearn.Finance, which is fluctuating increasing to ATH $380K on 9th May.
If alUSD is trading under $1 on Curve, you can use the Transmute function, to convert your alUSD back into DAI 1-to-1 in Alchemix, or trade alUSD on decentralized markets such as Sushiswap.
By staking in the 4 pools (ALCX/ETH SLP, alUSD3CRV, ALCX, alUSD), you will earn $ALCX rewards, the governance token of Alchemix.
The APY is up to 204.88% at the time of writing.
The $ALCX token price moves in a similar direction as the transactions of Alchemix. So you might use the dapp data as your $ALCX price indicator.
Dfyn is a multi-chain AMM dex, with nodes spread across multiple Layer 1 and Layer 2 blockchains. It builds a decentralized swap station to swap large assets natively like BTC, ETH, ADA in a non-custodial way.
Dfyn will utilize Router Protocol’s cross-chain bridges to seamlessly allow communication and value transfer between different Dfyn nodes.
Launched initially on Polygon, Dfyn will soon expand to Binance Smart Chain, Polkadot and more blockchains.
Dfyn’s interface as a DEX is quite similar to that of Uniswap. What’s more, it serves not only for Ethereum tokens but also for multi-blockchain assets.
Dfyn ensures that all transactions on the Dfyn network remain gasless for the Polygon network with the partnership with Biconomy and the integration of meta-transactions.
Just like Uniswap, Dfyn also has an AMM function.
Whenever a user request is received for a particular asset trade on a particular blockchain, Dfyn’s AMM requests Router to traverse not only through the same blockchain but also through different blockchains and their AMMs to fulfill the order at the right prices with the least slippage. For example, let us say, Router finds a better ETH/USDT price on a venue on the Solana blockchain instead of Uniswap on Ethereum, so Router will try to fill that order from Solana.
By adding liquidity to Dfyn’s AMM pools and becoming a liquidity provider, you can earn a 0.3% fee on all trades proportional to their share of the pool.
You can deposit your LP tokens to receive $DFYN with a high APR. A total of 5.6M DFYN tokens will be distributed as rewards in Dfyn’s farms.
There are 9 pools with the highest APY of 710.26% for the ROUTE-ETH pool at present.
The $DFYN token price has a high correlation with Dfyn Network’s on-chain users, volume and transactions. The $DFYN price curve and the Dfyn volume curve almost coincide. So you can regard the dapp data as your $DFYN trading signals.
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