What is Alchemix?
Alchemix is a DeFi protocol. It went live in February 2021. The platform allows users to get instant loans via the synthetic token alUSD. Also, it enables foreseeing the future yield of a deposit. Alchemix brought the innovation of self-repaying loans. The system works the following way: a user makes a deposit, and then the funds start to earn yield and as an outcome, automatically return user debt. Borrowers can choose the way of managing their loans: when to repay them, when to withdraw collateral or how to liquidate the loans. Alchemix is a Decentralized Autonomous Organization (DAO). To govern and manage liquidity, Alchemix (ALCX) token is employed. That is an ERC-20 token, which apart from being a means of governance, rewards users for adding liquidity. Alchemix uses Yearn.finance as a building block for yield on underlying assets like DAI. The protocol continues to develop and add new features.