Powerful Developer features

Imagine dApps built upon Alchemix with the ability to automatically delegate your credit to other on-chain destinations.

In v2, it is possible for integrated dApps to allow other accounts access to a user’s credit. This is primarily a developer feature which will allow other protocols and modules to hook into Alchemix user accounts.

We are excited for what developers can come up with using this functionality. For example, if a futures market dApp integrates into Alchemix, they could harness the delegated credit feature for perpetual funding on a leveraged position, taking what it needs when it needs it to keep your position afloat.

Another use case may see a payments dApp that would allow users to send credit to third parties with convenient and customizable credit access controls. This could allow users to set up payment schedules to service providers or other users.

Security first

Although it’s technically possible, opening up the functionality to allow users to delegate credit directly from the main Alchemix UI would be dangerous and irresponsible in the eyes of the Alchemix team. By adding dApps that abstract away this responsibility we feel we’re looking out for our users’ best interests.

Please note: Contracts that look to utilize the credit delegation features will need to apply to be accepted through the strict vetting and whitelisting process of the Alchemix DAO.

For users who want to send their borrowed funds directly to other users, we’ve added a convenient utility within our v2 interface to accommodate this whilst removing the risk associated with open approvals.

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