Source Crypto Info.com
What is Alchemix?
Alchemix is a DeFi protocol that allows for the creation of synthetic tokens that represent the future yield of a deposit. The platform provides flexible instant loans that repay themselves over time. It solves the risk of getting liquidated for leveraging your position.
ALCX is the native utility and governance token of the project, the current use cases includes:
Liquidity mining: Users can contribute liquidity to staking pools on Alchemix to earn liquidity rewards and a share of the transaction fees.
Minting synthetic tokens: Users can deposit assets (i.e ETH) as collateral to mint 1:1 synthetic tokens on Alchemix (i.e. alETH).
Governance: ALCX token holders can participate in voting through on-chain governance.