Alchemix

Alchemix has integrated Auto-powered automated liquidity provider (LP) yield farming into its Mix-Yield Token (MYT) vaults on Mainnet, expanding beyond traditional lending markets and liquid staking tokens. **Key Features:** - Captures optimized trading fees and incentives through automated LP farming - Minimizes impermanent loss risk - Provides diversified yield layer for Mainnet strategies - Complements existing integrations with Euler, Aave, Fluid, and Yearn **Governance:** - DAO controls strategy compositions, risk tiers, and caps - All changes are transparent and on-chain - Community-driven yield sourcing decisions Full strategy details, risk classifications, and vault caps are available in the [official documentation](https://docs.alchemix.fi/user/concepts/myt-and-yield#per-chain-variants).

Alchemix has reintroduced rewards for its ALCX/WETH liquidity pool on Balancer, offering a 10% APR. **Key Details:** - Direct incentives now run through [Merkl](https://merkl.xyz) following Balancer's discontinuation of the veBAL system - BAL emissions are no longer distributed to pools under the old model - Liquidity providers can deposit at [Balancer's V3 pool](https://balancer.fi/pools/ethereum/v3/0x1535d7ca00323aa32bd62aeddf7ca651e4b95966) This follows Alchemix's earlier migration from Balancer V2 to V3 pools in January 2026, when the protocol shifted incentives to a new Core Status pool structure.

Alchemix has temporarily extended transmutation times to **20 weeks for alETH** and **16 weeks for alUSD** as part of a strategic scaling initiative. **Key Changes:** - Transmuter caps raised to 115 alETH and 100k alUSD initially - Further cap increases every 2 days over the next two weeks - Extended durations enable 1.6x faster capacity scaling **The Strategy:** Longer transmutation periods allow the protocol to absorb more liquidity while maintaining competitive APRs. This increased liquidity enables more loans, which in turn opens up additional Transmuter capacity—creating a positive feedback loop. After this adjustment period, the team will re-evaluate caps and durations to ensure transmuting immediately remains more attractive than waiting. The v3 Transmuter converts discounted alAssets to their underlying assets at 1:1 ratio, providing fixed-rate yield opportunities while supporting peg stability. [Learn more about fixed yield](https://alchemix.fi/fixed-yield)

**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.