For those wondering why Saddle over Curve, while we initially thought we could get on Curve, their team notified us that there is a conflict of interest since our current source of yield for ETH is Yearn’s yvWETH vault, which gets most of its yield from farming CRV tokens. Thankfully the Saddle team was ready to lend us a helping hand to get on a DEX with the same features that made Curve so attractive in the first place for soft-pegged assets.
First, go to https://saddle.exchange, and on the top of the page select “Pools”.
We are thrilled to finally release the savior of France, breaker of chains, the unburnt, mother of dragons: alETH. The excitement is palpable, to say the least. Now you can save your ETH and unleash additional power from it at the same time. Let’s get into the launch details.
The initial launch parameters for alETH, as decided on by community governance, are as follows.
-A 400% collateralisation ratio, meaning, for every 4 ETH you deposit, you can borrow 1 alETH
-A debt ceiling of 2000 alETH
-5.5% of ALCX rewards going to the alETH AMM LP farm
The ALCX dev…
Traditional finance is run on inefficient, decades-old systems that are prone to daily breakages, and are littered with middle-men, whose clientele can never be 100% certain if they are engaging in the same risk-averse or risk-neutral behaviour that they advertise. DeFi protocols are built from open-source software, and operate on permission-less, censorship-resistant ledgers, removing the majority of the risks posed by the traditional financial space. However, these protocols are still subject to the ever-looming spectre of smart-contract risks.
The Alchemix team is dedicated to smart-contract security. While version 1 of the Alchemix protocol was launched with a raft of features…
A few hours after the Alchemix team executed the migration of ALCX farming rewards to the brand new MasterChefV2 contract by SushiSwap, we were notified of a bug by a community member. MasterChefV2 uses the ALCXRewarder contract to distribute ALCX rewards to LP stakers. A bug in the ALCXRewarder miscalculated how long people had been staking, and thus how much ALCX people should be awarded. This problem would have only worsened over time. Thanks to the fast action of both the Sushi and Alchemix teams, we were able to pause ALCX rewards. Only 60 ALCX, or approximately $50,000, was over-rewarded…
The crypto community have been rocked by the recent price crash that wiped over 50% off the value from Bitcoin and Ethereum’s recent all time highs.
By May 19th $662 million in loans in DeFi had been liquidated in the previous 24hrs. Whilst the negative effects of the crash were felt far and wide the good news was that DeFi as a system just went to prove how robust it was. Specifically Alchemix performed 100% as intended, not one user was liquidated as a result of the destabilising effect on token prices. …
Starting from Tuesday the 2nd June, in addition to ALCX our humble farmers will receive extra rewards in the form of SUSHI and CRV tokens. So not only will our farming community now benefit from higher effective APY, they are also being offered a diversified set of rewards from within the DeFi space.
Sushi (ALCX/ETH) LPs:
Alchemix is excited to be the first pool in the new and improved contract by Sushiswap, MasterChefV2. One upgrade of this new contract is the ability to handle dual rewards. Alchemix has been awarded the max allocation for a single pool with 100 allocation points…
On May 18 2021 our first eagerly awaited and official audit passed. You’ll be able to inspect the document in the link provided but if you’re just looking for a quick run down then you’ve come to the right place.
Testing the smart contracts against both common and uncommon attack vectors.
Assessing the codebase to ensure compliance with current best practices and industry standards.
Ensuring contract logic meets the specifications and intentions of the client.
Cross referencing contract structure and implementation against similar smart contracts produced by industry leaders.
Thorough line-by-line manual review of the entire codebase by industry experts.
Our self-paying loan protocol on the Ethereum blockchain, is in the process of integrating the widely used Chainlink Price Feeds. Our integration, which already involves the mainnet use of the DAI/USD Chainlink Price Feed, will expand to include the use and support of Chainlink Price Feeds for ALCX, alBTC, alUSD, and alETH. These decentralised price oracles will be referenced on-chain during for minting, liquidation, and/or payback processes of lending and borrowing by Alchemix and/or other DeFi protocols such as Cream Finance, who are looking to add support for Alchemix synthetic tokens.
Chainlink was selected as the go-to oracle solution to…
Community art deserves a special place in the heart of any project. It’s a true expression of the community’s commitment whilst offering the chance to hover a new lens over their perceptions and aspirations.
At Alchemix we like to think of ourselves as open minded and completely intrigued by community participation. We want to encourage lateral, creative thinking and innovation. After all, we’ve created one of the most interesting lego blocks in DeFi, and we’ll be relying on the community to help build an abstracted ecosystem on top of it.
This is why we’re excited to finally announce our very…