Alchemix is an innovative DeFi protocol for self-paying crypto loans. The protocol aggregates user collateral, pooling profits to pay off everyone’s debt over time.
What is Alchemix, How is it Used?
Alchemix is a decentralized finance protocol developed with an innovative perspective for crypto loans. The platform creates yield-backed synthetic tokens that users can acquire in exchange for a security lock on the system. The founder of Alchemix Finance is Scooby Trooples.
On the other hand, every DAI/ETH deposited in the Alchemix smart contract is directed to the Yearn vault, where users immediately start earning returns. The protocol uses the returns earned from lenders’ deposits to pay off the debts of its users. The longer the investors hold their deposits, the more returns they will get, and the more loans will be repaid later on.
Those who want to use Alchemix can easily use the platform by following the steps below:
- Place a deposit (collateral) in the Alchemix ecosystem.
- Up to 50 percent of the deposit or collateral value can be used as a loan.
- The deposit earns interest over time, which automatically repays the loan.
A big aspect of Alchemix’s localization is to decentralize its ecosystem operations to achieve sustainable growth going forward. It will also resolve any existing trust assumptions regarding administrative functions.
What is ALCX?
ALCX coin is the administrative token of the Alchemic protocol. As soon as users deposit these tokens into the DAO system, they start earning voting points called VP. Also, the longer the staking is held and the more ALCX deposited, the more VP you get. When there is a vote, users can choose to use any amount of voting points they want.
ALCX coin entered the markets on February 28, 2021. The protocol aims to realize the vision of achieving fully autonomous decentralization.
How Much is ALCX Supply?
There is a supply of 1.7 million ALCX in circulation. The market value of these coins is 36 million dollars. The supply of cryptocurrencies refers to the total amount of the coin in circulation. Cryptocurrencies usually have a supply limit, meaning how much of it can be in circulation has been determined. This limit is determined by the protocol on the cryptocurrency’s blockchain and is usually a fixed number.
The current price of Alchemix coin is as follows:
Alchemix (ALCX)
What is ALCX Coin ATH?
ATH stands for the all-time high (All-Time High) price of the cryptocurrency. This refers to the time when the cryptocurrency reached its highest level in its history. The highest ATH price of ALCX coin was recorded as 2.06 USD on March 20, 2021.
How Much is ALCX Coin ATL?
ATL stands for the all-time low price of the cryptocurrency (All-Time Low). This level is generally considered to be the lowest price level since the cryptocurrency’s debut. The ATLs of cryptocurrencies often reflect extremely low price levels that cause prices to fall and panic in the market. The lowest ATL price for ALCX coin is 13.49 USD on December 30, 2022.
On Which Exchange Is ALCX Coin?
You can find ALCX coins on centralized exchanges or decentralized exchanges. But before performing any trading, it is necessary to know the exchanges where this coin is listed and to create an account on one of these exchanges. Cryptocurrency exchanges where ALCX can be purchased are as follows:
- Binance
- Coinbase Exchange
- Kraken
- SushiSwap
- Curve Finance
- Gemini
- Gate.io
- OKX
- bitrue
- Pionex
- bitay
- ZT
- XT.COM
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