Chemix

Alchemix Finance It is a synthetic asset lending platform supported by future income, which helps users to obtain future deposit income in advance by creating synthetic asset tokens. In other words, users can use 100% of the principal to generate revenue on other DeFi agreements, while at the same time lending some of the money to invest in other investments to leverage their revenue. On this chemix product we make four parts: Vaults, Transmuter, Treasury and Farming.

Vaults

This is the core of the Alchemix lending logic that is implemented as follows:

1. Deposit collateral: Users are required to deposit DAI into this contract, which is then deployed to The yDAI Vault of Yearn for liquidity mining to generate revenue;

2. Borrowings: The user may deposit alUSD of up to 50% value, equivalent to debt, with a minimum collateral rate of 200%;

3. Repayment: 90% of the proceeds from yDAI are repaid on a regular basis on a pro rata basis to all deposit users until the debt is repaid;

4. Collateral retrieval: When the Treasury's collateral rate is higher than 200%, the user can withdraw the higher portion of DAI. As the agreement repayments more debt, the user can withdraw more DAI collateral. Or the user can pay off the debt directly with alUSD or DAI and take back the collateral at any time.

Transmuter

Treasury

Ten percent of the revenue generated by Yearyearn will be allocated to the Treasury as a future development fund for the project, which will be used to support the ongoing development of the agreement, cover server costs, marketing and other expenses. The specific use of funds in the Treasury is decided by a vote of ALCX holders.

Farming