Stablecoin event
Alchemix introduces alUSD and yield-backed borrowing
Alchemix introduced alUSD as synthetic debt minted against yield-bearing stablecoin collateral, with collateral yield reducing debt and protocol or market routes supporting repayment and exit.
ImpactHigh
Detail kindOther
Sources3
Alchemix USD
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Alchemix
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| Date | 2021-02-22 |
|---|---|
| Event type | Launched |
| Event detail kind | Other |
| Stablecoin subjects | Alchemix USD |
| Organization subjects | Alchemix |
| Impact | High |
| Effect on stablecoin status | Active |
| Recovery / reversal | Not applicable / unresolved |
| Recovery date | — |
| Cause or mechanism | not_applicable |
| Record confidence | High |
| Source | Publisher | Type | Evidence scope |
|---|---|---|---|
| Introducing Alchemix | Alchemix Finance | Official Statement | Launch and Design, Yield Backed Debt, Event Date |
| Alchemix protocol and alUSD current documentation | Alchemix Documentation | Official Documentation | Current Protocol State, Issuance Mechanics, Governance |
| Alchemix Transmuter conversion mechanics | Alchemix Documentation | Official Documentation | Redemption and Conversion, Burn Mechanics, Underlying Settlement |
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