ALCX token is
ALCX is the governance token of Alchemix.
ALCX token is used for
- Governance (off-chain currently)
- Yield Farming
How could value accrue to the token?
- 10% of yield profit is sent to the DAO
What is Alchemix?
Alchemix is a DeFi platform for self-repaying loans on future yield.
How Alchemix works
Alchemix allows a user to deposit DAI to a smart contract and borrow up to 50% in alUSD.
The debt is paid down with the yield that the locked DAI generates (using the yearn DAI vault).
A user can convert alUSD to DAI via the transmuter. Depending on how much free float yield DAI is in the system. The process is subject to a queue and determined through governance.
Governance is currently a developer multisig and snapshot signalling. On-chain governance will be rolled out over time.
Read more here.
Total supply: 2,393,060 Tokens
- 15% – DAO
- 5% – DAO
- 16% Team pool emissions
- 64% LP emissions