Alchemix is ​​a DeFi protocol that allows the creation of synthetic tokens that represent future returns on deposits. The platform offers flexible instant loans that repay themselves over time. It addresses the risk of leveraged positions being liquidated.

ALCX is the project's native utility and governance token. Current use cases for ALCX include:
Liquidity Mining: Users can contribute liquidity to staking pools on Alchemix to earn a share of liquidity rewards and transaction fees.
Minting Synthetic Tokens: Users can deposit assets (such as ETH) as collateral to mint 1:1 synthetic tokens (such as alETH) on Alchemix.
Governance ALCX token holders can participate in voting through on-chain governance.

The project consists of the following main components:
Vault: As a hub for generating yield advances, the Vault has many similarities to lending platforms such as MakerDAO and AAVE.
Users deposit collateral to mint corresponding synthetic tokens (loans), tokenizing their future earnings.
Proceeds earned on users' collateral will automatically repay their loans.
Staking pool: Staking pools provide liquidity pairs for tokens in the Alchemix ecosystem and reward users for contributing liquidity in return.
Transmuter: Transmuter allows users to stake their synthetic assets and convert them into their base assets over time.
Alchemix DAO: Alchemix will be governed by a DAO. The DAO will focus on funding projects that contribute to the growth of the Alchemix ecosystem and the Ethereum community.