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alchemix.fi

Stage

Seed VC | Alive

Total Raised

$4.9M

Last Raised

$4.9M | 1 yr ago

About Alchemix

Alchemix is a decentralized finance (DeFi) lending protocol for cryptocurrency.

Alchemix Headquarter Location

Finland

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Expert Collections containing Alchemix

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Alchemix is included in 3 Expert Collections, including Blockchain.

B

Blockchain

4,495 items

Companies and startups in this collection leverage blockchain technology for crypto investing and trading, decentralized finance (DeFi), NFTs, and more.

D

Digital Lending

1,511 items

This collection contains companies that provide alternative means for obtaining a loan for personal or business use and companies that provide software to lenders for the application, underwriting, funding or loan collection process.

F

Fintech

4,692 items

Track and capture company information and workflow.

Latest Alchemix News

New Ethereum Token Could Replace Yield-Bearing DeFi Assets

Apr 6, 2022

New Ethereum Token Could Replace Yield-Bearing DeFi Assets by Shutterstock cover by Nomad_Soul Get daily crypto briefings and weekly Bitcoin market reports delivered right to your inbox. 1, 2022 Markets Mar. 29, 2022 Analysis Mar. 30, 2022 Press Release14 hours ago Press Release14 hours ago A new standard for yield-bearing DeFi tokens has been finalized. ERC-4626 aims to make yield-bearing tokens more secure and easier to integrate into other DeFi protocols. Several protocols, including Yearn Finance, Alchemix, and Balancer, are planning to implement the finalized ERC-4626 standard. Share this article URL Copied A new Ethereum token standard called ERC-4626 could help solve composability issues in DeFi and make yield-bearing tokens more secure. Meet ERC-4626  DeFi natives may soon need to familiarize themselves with a new Ethereum token standard. First proposed in January by Fei Protocol co-founder Joey Santoro, ERC-4626 seeks to standardize the myriad of different yield-bearing tokens used across DeFi platforms. Now, with the ERC-4626 standard finalized , DeFi protocols are preparing to integrate it. Currently, protocol developer teams mainly use their own in-house solutions to govern yield generation. While this approach has been the norm in developer circles, it comes with some significant setbacks. As each protocol’s code contains slight variations, getting yield-bearing tokens to interact with each other across different protocols requires a lot of resources. Additionally, as more complex workarounds are committed to the code, it opens protocols up to more potential vulnerabilities. For example, last year, an attack against Rari Capital took advantage of the code governing its Alpha Finance yield-bearing ibETH token vault. Because Rari Capital was unaware of certain functions built into ibETH tokens, it unknowingly created vulnerabilities that were taken advantage of by a hacker. If yield-bearing tokens instead used a standardized model, developers would be far less likely to overlook potential exploits. “Omg I want this now so bad,” said Alchemix co-founder Scoopy Trooples in response to Santoro’s original ERC-4626 proposal. “[The] single biggest pain point for Alchemix v2 is the fact that every different yield token integration has a bespoke solution requiring audit. If they were standardized, it’d be one and done,” they explained. Alchemix is one of several DeFi protocols that interacts with multiple protocol contracts in its yield generation strategies. By adopting the ERC-4626 standard, developers aim to make yield-bearing tokens easier to integrate into other DeFi platforms and more secure. According to a Tuesday Twitter thread posted by DeFi protocol Yearn Finance, several protocols, including Alchemix, Balancer, Rari Capital, Fei Protocol, and OpenZeppelin, are planning to implement the finalized ERC-4626 standard. Ethereum Request for Comment, or ERC, is a scripting standard used within the Ethereum blockchain. It dictates the rules and actions that an Ethereum token or smart contract must follow and how it is implemented. Most fungible Ethereum-based tokens use the ERC-20 standard, while NFTs generally use ERC-721 or ERC-1155. Disclosure: At the time of writing this piece, the author owned ETH and several other cryptocurrencies. Share this article

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