ALCX Price today

Alchemix (ALCX) is a DeFi platform that creates Synthetic Assets, allowing users to stake their digital assets to profit from DeFi operations on derivatives or based on the difference in the value of transactions trading on the platform. When users stake tokens on Alchemix, the platform issues a token equivalent to the collateralized debt. Borrowers and lenders can pay and repay crypto debts in a fully automated manner. The profit earned from the deposits will repay the user’s debt.

Alchemix helps customers not sell the valuable token they want to hold but the mortgage that token in exchange for less than 50% of the collateral to invest in new projects. Alchemix also does not liquidate any of the customer’s mortgages, which is a unique feature that makes this project attract the attention of many investors.

ALCX is a native token of the Alchemix ecosystem, operating on Ethereum according to ERC20 standard, and can be used to:

• Pay for transactions and smart contracts
• Stake to get rewards
• Vote for essential decisions in the system