Fantom Multichain response

Alchemix Finance
3 min readOct 12, 2023

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How to Redeem FTM alUSD and gALCX

If you have alUSD or gALCX on Fantom and would like to redeem them for alUSD or xALCX on Optimism per AIP 95b, these are the steps to take:

1 — Go to the alUSD FTM contract ( First, connect your wallet to Etherscan using the ‘Connect to Web3’ button and approve the redeemer contract to spend your alUSD. To do this, open the function #2 drop down, input the contract address of the redeemer contract into the ‘spender’ input field (0x19B3cDc09233Ef1aa15998E8bb343B11c0601094), and input the amount you want to approve for spending.

This value needs to be converted from your usual value (E.g. $100) into a unit256 number. You can use the unit converter here to convert your number. Type it into the Ether (1) field, and copy the output from the Wei (10–18) field. Paste this into the input amount field in Etherscan and press the ‘Write’ button. Approve the transaction in your wallet.

2 — Go to the FTM redeemer contract here: and connect your wallet to Etherscan

3 — If you wish to redeem all of your alUSD, go to function 3 (function 6 for gALCX, see contract address in footer). Enter a small amount of FTM into the input. This is the amount of FTM you will pay to cover gas/L0 fees, and you will be reimbursed for what you do not spend. 5 to 10 FTM should be sufficient. Note that this number does not need conversion.

4 — (You can use function #1 if you want to redeem a specific amount of alUSD, or function #2 if you want to redeem a specific amount to a specific address. Ditto for gALCX function 4 and 5).

5 — Press the ‘Write button’ and approve the transaction in your wallet.

6 — You should receive your alUSD and/or ALCX on Optimism automatically (credited per the ratios outlined in AIP 95b). If you do not receive the assets within 20 minutes, please open a ticket in the support channel of the Alchemix discord server. If you’re not already a member, please find the invite link in the footer of the website,

Rates and References

Thank You

Thank you to Paladin for the efficient and secure development of the redemption contracts, using LayerZero technology. Thank you to the LayerZero team for connecting the Alchemix and Paladin teams.