2022: The Year of Growth
Issue #6 | January 2022
Editorial
Welcome to 2022, the year of growth for Alchemix. It's been a little over a month since the previous edition of the Alchemix Journal, so this issue is packed with news and updates.
Up front is the launch of the Alchemix Cinematic Ad and behind the scenes trailer. Also featured this month is an article from Ov3rkoalafied, who provides insight into some of the less obvious advantages of using Alchemix as a continuous loan provider.
Excited users continue to drop by the Alchemix Discord to ask "wen v2?". More recently this has turned into “wen l2/sidechains?”. Rest assured that the devs are hard at work doing something, and are looking forward to making announcements in due course. Until then, take a look in the Media & Community section of this issue for a hint on a possible first sidechain candidate.
Finally, a quick note regarding the recent volatility in the markets. There has been significant attention given to forced liquidations, which can trigger further instability and liquidations through cascading. The impact on individuals who are impacted by this can be devastating. Alchemix is intended to be a product that protects against this instability by mitigating the risk of being liquidated. See this video for a refresher on how it works, and stay safe out there, anon.
Alchemix Protocol Stats
Total Value Locked (TVL) $978,000,000
DAI Vault TVL $339,850,737
DAI Vault APY 7.779%
ETH Vault TVL 99,611.277 Ether ($244,046,950)
ETH Vault APY 4.59%
Protocol-Owned Liquidity Bonded $8,870,259
Twitter Followers 59,000
Discord Members 11,700
News & Announcements
Are You Winning, Son?
The Alchemix marketing wizards recently revealed what they have been working on over the past months. It needs no other introduction - go check it out!
alUSD Pair Reactor Launched
Tokemak has launched an alUSD Pair Reactor. This reactor will allow alUSD to be staked in return for TOKE rewards. alUSD stakers are credited with talUSD tokens for use as a DeFi lego. TOKE stakers in turn can vote for the alUSD reactor in order to direct its liqudity, in return for more TOKE. Read more about Token Reactors and Pair Reactors in the Tokemak article The Balancing Act.
Alchemix is GMI
The Index Coop, in collaboration with Bankless DAO, has launched the DeFI Growth Index ($GMI). The GMI token consists of the top growth-focused protocols in the DeFi ecosystem. The Alchemix ALCX token has been included in this index with an allocation of 9.1%.
APY.Finance Integrates The Curve-alUSD Pool
DeFi protocol APY.Finance has added the Curve alUSD pool as a yield source. Both new and existing depositors into apy.finance now have automatic exposure to the pool, helping to boost alUSD liquidity in the process.
Flipping Your Perspective on Alchemix Loans, Part One
Two very common questions we get from users learning about Alchemix are “how long does it take to pay off my loan?” and “why would I take a loan that takes several years to pay itself off?!”. Contributor Ov3rkoalafied has written an article to demonstrate why the loan repayment time doesn’t matter. Part One is specifically aimed at those new to Alchemix and/or DeFi. Stay tuned for Part Two, which will dive into more complex examples for those more familiar with Alchemix and DeFi.
Click here to read the article.
Community & Media
Scoopy Trooples on Goodwill Yunting
Alchemix co-founder Scoopy Trooples appeared on Goodwill Yunting together with 0xMaki from the Tokemak project for the End of Year DeFi Panel. Listen in to hear discussion about DeFi 2.0, the general DeFi ecosystem, and hints at the upcoming Alchemix DAO revolution.
A Look Back at the Year That Was
Behind the Scenes on the Alchemix Cinematic Ad
The Alchemix media team has drawn back the curtain on the Cinematic Ad that was recently launched. The team explains the motivation behind the video, as well as its conceptualisation, filming and production - including the use of a sophisticated (but potentially deadly) robot. Read all about it and then see the behind the scenes video!
The Self-Repaying Ring
Congratulations to Kieranpm.eth and his fiancée, who recently became engaged. Kieran announced that he used an Alchemix self-repaying loan to fund the engagement ring.
TVL on the Menu in 2022
Alchemix contributor Ov3rkoalified outlines some of the key benefits of Alchemix v2 and how it might help Alchemix to increase its TVL.
Welcome Home
Early ALCX holder 0x7d54 has posted a twitter thread outlining their reasons for returning to the Alchemix community and taking on a new position in ALCX.
What’s He Trying To Say?
Governance
See below for a summary of all governance proposals since the previous issue of the newsletter.
[AIP-33] Premia Finance Alchemix Options
Scoopy Trooples proposes a partnership with Premia Finance to enable options trading of ALCX on the Premia platform. Read more here and see the vote here.
Proposal passed.
References
Stay safe online! When using Alchemix, always be sure that you are interacting with the official resources:
Website: https://alchemix.fi
Twitter: @AlchemixFi
Discord: https://discord.gg/alchemix
dApp: https://app.alchemix.fi
Medium: https://alchemixfi.medium.com
Disclaimer
This newsletter is provided for informational purposes only and does not constitute any kind of advice. Use cryptocurrencies and Decentralized Finance (DeFi) at your own risk.