Alchemix Reports 12.​9% Deposit Growth to $45M in Q2 2025

**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)

The aAsset Transmuter caps have been increased on mainnet, with plans for additional incremental raises over the coming weeks. **What this means:** - More Fixed Yield opportunities will become available - Caps will be raised gradually in the near term - Users should monitor Discord for announcements to access new capacity first This follows the recent recovery from the KelpDAO incident, where alETH borrowing was re-enabled and aWETH reopening began.

**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 introduced the **Mix-Yield Token (MYT)** as part of its v3 upgrade—a single token that bundles multiple DeFi yield strategies with automatic rebalancing. **Key Features:** - One-deposit access to diversified yield across protocols - Automatic risk management and rebalancing - Up to 90% loan-to-value borrowing capability - Multi-chain deployment on Ethereum, Arbitrum, and Optimism **Integrated Protocols:** MYT wraps strategies from Euler Finance, Tokemak Autopools, Aave, Fluid, Yearn Finance, and others. Strategies are curated and capped by risk tier. Users can access different risk profiles while maintaining transparent, community-driven governance. Full composition details available in [Alchemix documentation](https://docs.alchemix.fi/user/concepts/myt-and-yield). [Get started with MYT](https://alchemix.fi/mixed-yield)

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.