Alchemix

Alchemix has integrated **Bridge and Swap** functionality directly into its dApp, enabling users to move assets across chains and trade tokens without leaving the platform. **Key features:** - Cross-chain asset transfers via built-in bridge - Token swapping within the dApp interface - Accessible through the menu dropdown at [alchemix.fi](http://www.alchemix.fi) The integration aims to reduce friction and streamline the user experience by consolidating multiple DeFi operations in one place.

**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.

**Alchemix v3 is set to launch in approximately one week** following the completion of a major protocol migration. **Key Updates:** - v2 contracts have been frozen as the migration process begins - All existing positions are being transitioned to v3 over the next week - The protocol will return online with the v3 launch **Major v3 Features:** - **90% loan-to-value ratio** (up from previous limits) - New Transmuter system - MYT (Manage Your Transmuter) vaults - Complete architectural upgrade **Migration Details:** The team has published a comprehensive migration guide explaining the transition process and new features. Users are encouraged to review the documentation to understand how their positions will be affected. Full migration details: [The Great Alchemix v3 Migration](https://alchemixfi.medium.com/the-great-alchemix-v3-migration-df1c4d77ccdb)

**Audit Milestone Reached** Smol v3 development continues with key security progress: - yAudit DAO system-wide audit began last week - All additional testing completed - Further updates coming soon This follows the previously announced Immunefi audit scheduled for October 6th. The protocol offers self-repaying, interest-free, and non-liquidating loans.

The Alchemix Treasure Hunt has officially concluded with four winners claiming prizes. **Winners:** - Three participants found physical envelopes hidden around Denver, Colorado: @smashleybelle, @jason_mart99993, and @alej14and14ro - One winner (@nextblock_eth) won through an online draw The treasure hunt involved physical locations in Denver marked by specific GPS coordinates and What3Words addresses. Winners who haven't submitted their wallet addresses are being asked to DM the Alchemix team. This community engagement event combined real-world scavenger hunting with digital rewards.

Alchemix is migrating user funds from v2 to v3 contracts starting **February 6th, 2026**. The protocol will be offline for approximately one week during this transition. **Two options for users:** - **Automatic migration**: Leave funds in v2 and let the protocol handle the transfer. Treasury covers slippage over 0.25%, plus users earn Mana (share of 10k ALCX) - **Manual opt-out**: Withdraw funds before Feb 6th and redeposit after v3 launches During migration, the team will snapshot all accounts, secure funds in a migration multisig, and recreate positions in v3 contracts.

**Security experts to examine DeFi's potential** as a legitimate financial system in upcoming discussion. - @Ov3rKoalafied and Mitchell Amador from @immunefi will host X Spaces session - **Focus on history, security, and future** of decentralized finance - Discussion coincides with completion of v3 audit contest reports **Event Details:** - Date: December 16th - Time: 2PM UTC - Platform: X Spaces The conversation aims to address whether DeFi can evolve beyond experimental protocols into robust financial infrastructure. Security remains a critical factor in mainstream adoption. [Set reminder here](https://x.com/i/spaces/1DXxyWakAjYGM?s=20)