Behold! alETH!

DeFi just got a serious upgrade.

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 team and community chose to be conservative with our launch to ensure all systems are functioning properly. Post-launch, we will reassess the collateralization ratio and debt ceiling together with our amazing community.

The contracts are live. You can verify them yourself on etherscan:

alETH:
0x0100546F2cD4C9D97f798fFC9755E47865FF7Ee6

AlchemistEth:
0x6B566554378477490ab040f6F757171c967D03ab

AlchemistEth Vault Adapter: 0xEBA649E0010818Aa4321088D34bD6162d65E7971

TransmuterEth:
0x45f81eF5F2ae78f49851f7A62e4061FF54Ff674B

TransmuterEth Vault Adapter: 0x54dc35eb8c2E2E20f3657Af6F84cd9949C08CF38

The alETH contracts are based on the original Alchemist and Transmuter contracts (audited by Certik: https://alchemix.fi/a208baf6ca7e0d6b0116461f05e27cd9.pdf), with the ability to transact in ETH and WETH. Additionally, we have added functionality to allow users to swap ETH directly to alETH, 1:1, via the Alchemist. Swapped ETH goes directly into the transmuter; ready to back the newly minted alETH, maintain the peg, and increase yield for borrowers and stakers in the Alchemist.

Markets are not yet live, as we are waiting for the creation of the curve-like pool from our saddle.exchange partner. The pool is set to go live on Monday or early Tuesday (decentralized coordination ftw!). Staking rewards for LP providers will activate a day or two after the pool has been initialised and the multisig has activated the pool.

Remember, there are no liquidations with Alchemix loans. Making it one of the safest places to park your ETH as collateral.

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https://alchemix.fi

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Alchemix Finance

Alchemix Finance

https://alchemix.fi

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