Alchemix Grants Program Now Live

Alchemix Finance is undergoing a significant transformation following its delisting from Binance. The protocol is implementing several strategic changes: **Key Developments:** - Migration to a new tokenomics model designed to improve sustainability - Shift away from reliance on centralized exchange listings - Focus on building a more resilient, community-driven ecosystem - Enhanced self-repaying loan mechanisms and protocol improvements The team emphasizes this as an opportunity to strengthen the protocol's fundamentals rather than a setback. The changes aim to create long-term value for users of their interest-free, non-liquidating loan platform. Alchemix continues to prioritize its core mission of providing innovative DeFi lending solutions while adapting to the evolving crypto landscape.

**The v3 Transmuter** is Alchemix's peg stability mechanism that converts discounted alAssets into their underlying assets at a 1:1 ratio. **How it works:** - When alAssets trade below peg, users can deposit them into the Transmuter - The protocol burns these alAssets and locks in today's discount - Users receive the underlying asset 1:1 at a predetermined maturity date - This creates a fixed-rate yield opportunity while supporting the peg Alchemix v3 launched with comprehensive audits from Spearbit, Cantina, Nethermind, yAudit, Immunefi, and independent researchers. The upgrade introduces 90% LTV vaults, new Mix-Yield Tokens, and the Fixed-Duration Transmuter. Liquidity providers benefit from tighter pegs, more reliable fees, and reduced volatility risk. [Read the full article](https://alchemixfi.medium.com/introducing-alchemix-v3-037a2ed26ab6)

**Alchemix DAO now manages Mix-Yield Token (MYT) strategies directly** The DAO controls: - Strategy composition and allocation - Risk caps across conservative, moderate, and aggressive tiers - Fee structures **Key features:** - All changes are transparent and recorded on-chain - Community governance shapes yield sourcing decisions - Automatic rebalancing across risk strategies - Built on Morpho V2's open source infrastructure When users deposit collateral into Alchemix, it mints MYT tokens. The DAO then allocates these funds across different risk strategies without requiring manual management. This decentralized approach gives the community direct control over how yield is generated while maintaining transparency through on-chain governance.

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.

Alchemix has introduced a **Fixed-Duration Transmuter** that provides predictable price support for alAssets (alUSD and alETH). **How it works:** - Deposit alUSD or alETH and lock for a fixed period - Redeem 1:1 at maturity for underlying assets - 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 at a guaranteed 1:1 ratio. The fixed-duration model adds time-locked certainty to the process.