### What is Alchemix USD?

Alchemix USD (alUSD) is a synthetic, fully collateralized, and credit-based stablecoin that is backed by underlying DAI deposited in Alchemix vaults. It enables users to leverage their USD holdings.

### How does Alchemix USD work?

Alchemix USD operates through smart contracts on blockchains such as Ethereum, Fantom, and Optimism. Users deposit DAI as collateral to borrow alUSD, leveraging their exposure without selling the underlying DAI. The system uses yield farming strategies to automatically repay loans over time via the yield generated from deposited assets.

### What are the potential use cases for Alchemix USD?

Alchemix USD can be used in various ways including: self-repaying loans and yield farming in the DeFi space, providing liquidity in trading pools, participating in decentralized governance, and as part of cross-chain solutions for wider liquidity and access.

### What is the history of Alchemix USD?

Launched in February 2021 by a team including Scoopy Trooples, Alchemix introduced a unique DeFi lending protocol for self-repaying loans. Significant milestones include participating in the Layer 3 Optimism quest and expanding to Arbitrum. Alchemix USD has achieved stable market presence and price stability, with ongoing technological advances like moving to the xERC20 standard for improved security.

Alchemix USD

Deposits and withdrawals are not currently available for this coin.

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