Alchemix (ALCX) is a governance token on the Ethereum network that governs Alchemix Finance, a DeFi lending platform. Alchemix is a protocol that allows users to access collateral-backed loans. These loans are automatically paid off through with yield generated by collateral. The Alchemix protocol enables users to recover or retrieve the tokenised value of the deposited stablecoins instantly.
ALCX is an ERC-20 token, primarily used to govern the Alchemix DAO. ALCX is also rewarded to network participants that provide liquidity for the Alchemix protocol.
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