alchemix00
$ALCX
MCAP12.76M
-1.31%

what's alchemix?

Alchemix is a decentralized finance (DeFi) protocol that enables users to take out self-repaying loans against yield-bearing collateral such as staked ETH or DAI. By depositing collateral into the Alchemix vaults, users can mint synthetic tokens like alUSD and alETH, which represent future yield without needing to repay the principal manually, as the protocol automates repayments using generated yields. The platform aims to provide liquidity while allowing collateral to continue earning yields, reducing liquidation risks. Key features include high loan-to-value ratios up to 90% in recent versions, fixed-duration redemptions to maintain pegs, and the governance token ALCX for community decision-making. Alchemix has evolved through versions like v2 and v3, introducing meta-yield tokens and enhanced yield strategies.

Snapshot

Alchemix had no USR exposure, never negatively impacted users, and reimbursed trivial yield losses.

contract

ethereum

near-protocol

2W ago
RISK ALERT

Had no exposure to USR and has never negatively impacted users in its entire history, with yield strategies taking only negligible losses that were trivial to reimburse.

1M ago
VISIBILITY EVENT

alETH is featured among ETH yield strategies available on Stake DAO, deployed on Curve Finance pools with OnlyBoost boosting.

2M ago
VISIBILITY EVENT

Ranked 5th among governance tokens by development activity in a Santiment screener based on GitHub activity metrics.

3M ago

Participates in Votemarket veFXN round with $26K in total rewards distributed across 8 campaigns alongside MetronomeDAO, protocol_fx, SmarDex, asymmetryfin, and fraxfinance.

4M ago

Developer creates v3 looping tool and releases node-based dapp flow visualizer as template repository for the community.

Almanak launches Strategy Builder product for creating advanced DeFi strategies and runs two airdrop campaigns: Galxe (0.1% token allocation) and Cookie.fun (0.55% allocation with $7K-$21K rewards for top creators).

PT-alUSD offers 14.6% fixed APY through Pendle, while YT-alUSD provides a 5x points multiplier (166 YT-alUSD per 1 alUSD) with maturity on December 11.

alUSD TVL decreases to ~$124M from previous $160M+, with current APY at ~13.5% (including 9.6% estimated in ALMANAK points value assuming 100M FDV at TGE). alpUSD vault holds $3.2M TVL at ~15% APY.

TVL grows to ~$160M+ across vaults and Pendle pool exposure, becoming one of Pendle's largest markets. Stage 3 of Points Season 1 extended to align with new Pendle contract cycle, with fixed emissions resulting in minimal dilution for early YT holders despite TVL growth.

Integration with ALMANAK platform enables USDC deposits that generate alUSD vault shares, with alUSD currently valued at 1.0294 USDC.

Alchemix participates in $FXN gauge incentive program alongside multiple protocols, contributing to over $50K total incentives across Votium, StakeDAO, and Trevee platforms.

A $20M withdrawal executes smoothly on alUSD as a stress test, confirming liquidity mechanisms work perfectly with no exposure to mHYPER or xUSD.

V3 testnet goes live for testing.

5M ago

Protocol reaches $150m AUA with alUSD vaults offering 15%+ yield as TGE approaches.

$ALCX token experiences a 90% price increase today.

The protocol generates over $1M in verifiable on-chain yield for alUSD, offering 5-7% APY through AI-driven capital allocation.

Wins 2025 Safe Harbor Champion award in Adopters category and receives commemorative SEAL NFT for recognition.

ALMANAK TGE scheduled for days after December 11th when Pendle alUSD pool expires; Season 1 Points unlock 100% at TGE with 1:1 token conversion and no vesting. YT-alUSD farming active with 5x multiplier.

Features V3 vaults with 90% LTV interest-free self-repaying loans, integrating customized Morpho v2 vaults, and enabling DAO gauge voting for strategy weights in Mix Yield Token (MYT).

V3 introduces MYT (Multiple Yield sources Tokenized) using ERC-4626 standard and synthetic al assets as core features.

Project participates in $FXN gauge incentives with over $70K total flowing from multiple DeFi projects including Token Logic, Convex Finance, Asymmetry Finance, Inverse Finance, SmarDex, and Metronome DAO, with voting ongoing on StakeDAO and Trevee after Votium round ended.

Public audit competition for V3 smart contracts goes live with $100,000 in rewards available through November 4, 2025.

Project currently holds 2nd position with 140 votes in the SafeHarborChampion2025 Adopters category, trailing ENS Domains by 8 votes with voting open until October 31.

6M ago

V3 will integrate with Pendle to source yields through their platform as part of the upcoming protocol launch.

Features fixed yield primitives, risk adjusted yield aggregation, self-repaying loans, and peg resiliency. Excludes CeDeFi yields in yield-bearing collaterals, enabling users to multiply yields by looping interest-free.

Split v3 contracts to reduce size and maintain headroom below contract size limit, submitted for re-audit by yAudit.

$4.8K in incentives deployed for Alchemix through Balancer's Votemarket campaign, ranking as the top opportunity by rewards among current campaigns with veBAL holders able to vote now.

Alchemix's alUSD is included as one of 10 equal-weight components in the new OPEN stablecoin index, which has proposed a 1,800 ETH allocation from the Ethereum Foundation treasury.

7M ago

Protocol achieves official listing on ethereum.org following direct engagement with Ethereum Foundation team.

Daily revenue reaches 30x that of competitor Celestia

Began v2 to v3 migration with expanded yield primitive integration, enhanced leverage, and expected deployment completion on 2026-04-13.

8M ago

V3 upgrade introduces fixed-duration redemptions and Meta-Yield token for simplified yield strategies

Security competition concludes with 971 researchers participating and over $11,500 awarded to top performers.

V3 upgrade includes impermanent loss protection for alUSD and alETH liquidity providers

V3.0 upgrade passes security review by Cantina, clearing path for deployment.

Proposal live to add token to OPEN Stablecoin Index in Q3 rebalancing.

9M ago

New blockchain integration coming with V3 deployment on Arbitrum network.

Protocol funds compromised in Curve exploit with millions in ETH taken by Coinbase validators; no recovery planned.

10M ago

New strategic roadmap targets 5x TVL growth, 3x liquidity increase, and integration with 3 DAO treasuries following v3 deployment.

Euro implementation live through Holyheld partnership, enabling European users to access yield-bearing debit cards.

11M ago

New V3 contracts security competition offers $50,000 USDC prize pool until May 15.

1Y ago

$12K deposited on Stake DAO Votemarket to acquire veCRV and vlCVX voting power.

Mentioned for self-repaying loan feature ("self healing").

New developer BlockEnthusiast joined team for v3 development as dev, systems designer and researcher.

V3 expected to release in Q1 2025 with projected $1B+ TVL, aiming to return to DeFi bluechip status and launch friendly fork framework.

DAO treasury over $30M and TVL approaching 100M as of December 13. apxETH vault launching.

alETH synthetic recovering from July 31st 2023 Curve vulnerability incident, currently at ~0.97 ETH vs 0.99 target. V3 version in development.