Alchemix is a platform for the creation of yield-backed synthetic tokens that users can acquire for no cost in exchange for locking collateral in the Alchemix system. It gives users the ability to get an advance on their future yield immediately. These Alchemical Synthetic Tokens are a powerful DeFi primitive and a new way to make derivatives based on yield instead of debt.
Alchemix lets you reimagine the potential of DeFi by providing highly flexible instant loans that repay themselves over time. The synthetic protocol token (alUSD) is backed by future yield. Join the growing wave of Alchemy, it’s destiny on your terms!
Unibright (UBT) Storage Key Points
|Circulating Supply||149,999,999.24 UBT|
|Source Code||Click Here To View source code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
The set of lending, borrowing, trading, and derivatives applications on the Ethereum blockchain is commonly referred to as “DeFi.”. At its most basic level, users post collateral or liquidity in order to gain yield on their assets. Some just supply liquidity and are fine with interest rates or fees generated by their deposits, while others take a more active strategy by leveraging their positions or buying options
Automated Market Makers
One of the key applications of the DeFi stack is Automated Market Makers (AMMs). The four premier AMMs are Uniswap , Curve , Sushi , and Balancer . The idea is that users deposit liquidity to both sides of a trading pair into these decentralized exchanges and then earn fees when people trade using their liquidity. Uniswap pioneered the concept in 2018 by using ETH as the base trading pair for all tokens on Uniswap, and their latest version allows for any arbitrary two-token pools and smart routing to connect the liquidity in the system
The Alchemix dApp calls a harvest function on a regular basis, which collects the yield generated by all the deposits into the system. The collected yield counts towards the maturation of your Vault and is then transferred into the Transmuter pool. Users can stake alUSD in the Transmuter and their tokens will be converted into the base asset over time as the yield flows in. When users go to transmute and claim their converted tokens, an equal amount of alUSD tokens will be burned
Why Should You Choose
Deposit DAI to mint alUSD, a synthetic stablecoin that tokenizes your future yield.
Yield earned by your collateral from yearn. finance vaults automagically repays your advance over time.
Transmute alUSD back into DAI 1-to-1 in Alchemix or trade it on decentralized markets such as Sushiswap or crv.finance.
Choose from a growing number of high yield strategies to repay your debt
No Liquidation Risk
No matter what happens we’ll never liquidate your deposit and you’ll keep full access
Once you’ve withdrawn your alUSD you can simply let your loan repay itself
Decentralized / Trustless
Alchemix is built using decentralized smart contracts on the Ethereum network
Alchemix contracts have been Audited by CertiK.