Buy Alchemix USD (ALUSD)
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.
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Frequently Asked Questions (FAQs)
What is the current price of Alchemix USD (ALUSD)?
The Alchemix USD price is $1.5708 AUD, representing a +0.44% from the day prior.
Where is the best place to buy Alchemix USD (ALUSD) in Australia?
The best place to buy Alchemix USD (ALUSD) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Alchemix USD (ALUSD) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Alchemix USD (ALUSD)?
The trading volume of Alchemix USD (ALUSD) is $486.0K AUD in the last 24hrs, representing a +0.44% from the day prior.
How can I buy Alchemix USD (ALUSD)?
Alchemix USD (ALUSD) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Alchemix USD (ALUSD)?
The current market cap of Alchemix USD (ALUSD) is $257.3M AUD.
Can I convert Alchemix USD (ALUSD) to cash?
Yes - With Coinstash you can convert your Alchemix USD (ALUSD) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Alchemix USD (ALUSD) are there?
The current circulating supply of Alchemix USD (ALUSD) is 168.0M.
Is Coinstash a safe place to buy Alchemix USD (ALUSD) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Alchemix USD (ALUSD) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices here.