Alchemix Finance — a future yield synthetic asset platform and DAO community. The platform gives you advances on your crop cultivation with a synthetic token, which is an interchangeable requirement for any underlying safety in the Alchemix protocol. The DAO will focus on funding projects that will help the Alchemix ecosystem to grow as well as the larger Ethereum community.
Contents:
- Description of the Alchemix project
- What else should you know?
- More information about the DAO project
Description of the Alchemix project
As decentralized finance gains traction, development teams are making their way to explore the pristine world. It is interesting to observe how entirely new "value" infrastructures evolve to replace obsolete finance and its relatively narrow selection of retail packaged financial services.
Alchemix components:
| Firstly | Vaults act as a hub for yield advances and have a lot in common with lending platforms like MakerDAO and AAVE. The first type of collateral to be accepted by the protocol is DAI. |
| Secondly | Transmuter allows users to place bets on their synthetic assets and convert them over time to the underlying asset. |
| Thirdly | The Alchemix Management Token (ALCX) will be split between the developers, the DAO itself, and the community, with the vast majority going to the community. |
ALCX tokens give holders control over the direction of the protocol and the use of the treasury. It will transition into a fully functional DAO. Alchemix DAO will receive income from the Alchemix protocol, and part of the received income will go to the treasury. The Treasury will pay developers and permanent employees funds to maintain and expand the protocol. In addition, Treasury funds will pay for audits of the protocol and any future products.
Check out the developers and mods on the discord community if you have an idea to build something. If the community likes your idea and approves it with a token vote, you will receive funding.
What else should you know?
Once the Alchemix DAO matures, the development team will offer their vision for complete chain management, giving full control to the community over a number of protocol parameters. DAO development will be an open process. There are many brilliant and smart people in the crypto space and the Alchemix development team takes community feedback seriously. As such, community input can influence the direction and design of the DAO greatly.
There will be a governance channel in the Discord community where people can discuss protocol issues and suggestions on how to change it. Once an agreed action plan has been developed, a community member will prepare a formal proposal in the project forums. Each proposal requires a poll to vote yes / no and / or select the parameters it wants to change. If this poll gains majority support, it will be put on a snapshot for an official community vote. From there, the developers will do their due diligence and implement it if deemed safe.
More information about the DAO project
The developers provide a separate document, describing all features of the project. Also, there are social networks:
- a blog on the Medium platform, where articles are regularly published;
- twitter with news and updates.
The smart contract has not been audited.