Alchemix is a crazy DEFI platform future yield synthetic asset platform. I was super confused when I heard of it for the first time but let me break it down exactly what does it do.

You put $100 000 as collateral on to this platform it immediately allows you to borrow 50% of this - $50 000. Those 100k you put in the platform will be earning about 12% per year, and that 12% will be covering your loan. At the point when your $50 000 loan will be paid off, you can take out your initial investment from 100k and walk away. The big difference from other platforms that offer crypto loans is that here you will be earning interest on the whole amount of crypto you invested initially. Normally other companies like Crypto.com, Nexo, Celsius, etc, will be holding your assets and you will need to deposit every single month money with interest to repay the credit you took. With Alchemix you only need a Metamask wallet and DAI token to invest, then borrow up to 50% of your own money in alUSD and let the yield from yearn.finance pays it automatically over time.

From what I understand they are expected to add Bitcoin and Ethereum as options for collateral, which is great. The platform itself is pretty easy to use -and you guys should check it here.

The options in it are pretty self-explanatory if you ask me. You deposit DAI as collateral. You borrow alUSD on the second tab. On the third, you can withdraw your deposited DAI. Repay and Liquidate can be used if you want to end the loan before the time it's over.

I am definitely going to check the project and see what other options they have to offer.

I hope you guys find this interesting.