About Alchemix (ALCX)
Alchemix is an innovative, hybrid DeFi application that allows for the creation of yield-backed synthetic assets. With its unique ability to provide collateral that can also generate yield, Alchemix can offer a self-paying loan that has effectively no risk of liquidation. This product, “Vaults”, is the centerpiece of the Alchemix ecosystem and uses Yearn.finance as a building block for yield on underlying assets like DAI, with support for ETH and others coming soon.
ALCX token is an ERC-20 token used to govern and incentivize liquidity for the Alchemix protocol. Its primary use cases are governing the Alchemix decentralized autonomous organization (DAO) and rewarding network participants for providing liquidity.
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