Alchemix Grants Program Launch

Alchemix has officially launched v3, marking a significant upgrade to its decentralized yield protocol. **Key Features:** - **90% LTV vaults** - Higher loan-to-value ratios for users - **Mix-Yield Tokens (MYT)** - New token mechanism for yield optimization - **Fixed-Duration Transmuter** - Updated debt repayment system with defined timeframes - **Raised caps** - Increased capacity limits across the protocol The v3 release represents a complete architectural overhaul based on lessons learned from v2. The protocol maintains its core offering of self-repaying, interest-free, and non-liquidating loans while expanding functionality. Transmuters are now open for users to begin interacting with the new system. The team emphasizes this unified migration approach to prevent liquidity fragmentation. [Read full announcement](https://alchemixfi.medium.com/introducing-alchemix-v3-037a2ed26ab6)

**Alchemix has integrated Chronicle Labs' Fundamental Oracles for alAsset valuation**, marking a shift from market-based to backing-based pricing. **Key changes:** - alAssets now priced on underlying backing rather than DEX market prices - Low-risk strategy liquidations only triggered by actual underlying losses - Protection against oracle manipulation and volatile DEX pricing **Why it matters:** This implementation prioritizes security by removing exposure to artificial price movements. Users in conservative strategies face liquidation risk only when real losses occur in the underlying assets, not from temporary market volatility or potential oracle attacks. The integration builds on Alchemix's January partnership with Chronicle Labs, chosen for institutional-grade verifiability and real-time asset-level data transparency. [Learn more about Chronicle Labs](https://chroniclelabs.org)

Alchemix has completed its most extensive security review for v3, working with five audit firms and an independent researcher. **Audit Partners:** - Spearbit/Cantina Security - Nethermind - yAudit DAO - Immunefi - Independent researcher alpeh_v The protocol also conducted internal security testing alongside the external audits. This follows a February deep dive by cryptographer alpeh_v into the v3 Transmuter's synthetic debt and collateral mechanics. The comprehensive audit approach demonstrates Alchemix's focus on security before deploying its self-repaying loan protocol upgrade.

The v3 vaults now support borrowing up to 90% Loan-to-Value through new Transmuter and redemption mechanics. **Key features:** - Borrow against deposits while earning interest on your balance - Debt automatically decreases as collateral grows - Higher LTV ratios provide increased flexibility and capacity - Execute multi-step loops and yield strategies without depositing new assets This builds on the August 2025 LTV increase, giving users more headroom to deploy idle collateral across different strategies.

Alchemix has introduced a **Fixed-Duration Transmuter** that provides predictable price support for alAssets like alUSD and alETH. **How it works:** - Deposit alUSD or alETH and lock for a fixed period - Redeem at a guaranteed 1:1 ratio at maturity - Earn predictable, fixed-rate yield **Benefits for liquidity providers:** - Tighter peg stability - More reliable fee generation - Reduced volatility risk This upgrade builds on Alchemix's existing Transmuter system, which allows users to convert alAssets back to their underlying collateral. The fixed-duration model adds certainty to the conversion timeline, making yield calculations more straightforward for users seeking passive returns.