Alchemix

BUSD

Immutable

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/what-is-alchemix-coin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">What is Alchemix Coin?</a><br></p>
<p style="text-align: justify">Alchemix is a platform that creates yield-backed synthetic tokens that users can acquire by locking collateral within the Alchemix system.</p>
<h2 style="text-align: justify" id="what-is-alchemix-alcx">What is Alchemix (ALCX)?</h2>
<p style="text-align: justify">Alchemix claims to provide an advantage to its users with its easy usage scenario. Those wanting to use Alchemix can follow these steps to easily utilize the platform:</p>
<ul style="text-align: justify">
 <li>Deposit a collateral into the Alchemix ecosystem.</li>
 <li>Up to 50% of the deposit or collateral value can be utilized as credit.</li>
 <li>The deposit earns interest over time, automatically repaying the credit.</li>
</ul>
<p style="text-align: justify">In addition, the features of the Alchemix platform can be listed as follows:</p>
<ul style="text-align: justify">
 <li>Vaults: Alchemix provides a Vault that acts as a hub for depositing and lending assets. This feature is similar to other lending platforms like AAVE and MakerDAO. The Vaults accept DAI and ETH as types of collateral.</li>
 <li>Transmuter: This feature follows the primary stabilization mechanism for synthetic tokens. The Transmuter allows all participants to use alUSD at a 1:1 ratio for DAI tokens.</li>
 <li>Farming: Alchemix also offers yield farming, rewarding farmers with ALCX tokens, which provide governance voting rights within the ecosystem.</li>
</ul>
<p style="text-align: justify">On the other hand, every DAI/ETH deposited into the Alchemix smart contract is directed to the Yearn vault, where users start earning returns immediately. Alchemix uses the yields earned from lenders’ deposits to pay off users’ debts. The longer <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">investors</a> hold their deposits, the more returns they will earn, and thus, more credit will be repaid over time.</p>
<p style="text-align: justify">ALCX tokens are used as governance tokens. Users start earning Voting Points (VP) the moment they deposit ALCX into the Alchemix DAO. The longer they hold their staking and the more ALCX they deposit, the more VP they will earn. When a vote occurs, users can choose to use any amount of their voting points.</p>
<p style="text-align: justify">Additionally, in March 2021, Alchemix completed a financing round of $4.9 million led by CMS, Alameda Research, and Immutable Capital. Other investors include Nascent, Protoscale Capital, LedgerPrime, eGirl Capital, Fisher8 Capital, and Orthogonal Capital.</p>
<h2 style="text-align: justify" id="how-to-buy-alchemix-coin">How to Buy Alchemix Coin?</h2>
<p style="text-align: justify">ALCX Coin can be quickly and securely purchased via <a href="https://accounts.binance.com/en/register?ref=M8RGDITW" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Binance</a>, the world’s largest cryptocurrency trading platform by trading volume.</p>
<p style="text-align: justify">To buy ALCX Coin, you must first register with <a href="https://en.coin-turk.com/binance-to-delist-multiple-trading-pairs-for-enhanced-user-protection/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> and then send fiat currency such as Turkish Lira or dollars. After the fiat transfer, purchase Bitcoin (BTC), Tether (USDT), and BUSD to trade in the ALCX pair.</p>
<p style="text-align: justify">In addition, on <a href="https://accounts.binance.com/en/register?ref=M8RGDITW" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Binance</a>, users can place an order to buy at a price lower than the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow"></a><a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">market</a> price. For this, you need to use the Limit tab and enter the amount and price you want to buy.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/what-is-alchemix-coin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">What is Alchemix Coin?</a></h5>

What is Alchemix Coin?

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