What Is Alchemix and How to Earn?

2021-05-30 23:00:00 · 74 views · 3 min read


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.


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