Alchemix USD (ALUSD) currently has a price of $0.97 and is down -2.77% over the last 24 hours. The cryptocurrency is ranked 244 with a market cap of $162.2M. Over the last 24 hours, it saw $89.7K of trading volume. The token has a circulating supply of 167.8M tokens out of a total supply of 167.8M tokens.
Alchemix USD (often abbreviated as alUSD) is a unique decentralized finance (DeFi) protocol that enables users to obtain advances on their future yield. Essentially, users deposit assets like DAI into the platform and receive alUSD, which represents a loan against their future yield. Over time, the yield earned from the deposited assets automatically repays the loan. The magic of Alchemix lies in its ability to allow users to access the potential profits from their deposits upfront, effectively "time-traveling" their yield, while the protocol manages the repayment process in the background through yield farming strategies.
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