Alchemix (ALCX) is a decentralized finance (DeFi) platform built on the Ethereum blockchain that offers users the ability to mint a synthetic stablecoin called alUSD using their deposited assets as collateral. This unique feature allows users to access the value of their assets without needing to sell them. Alchemix aims to provide users with a way to earn yield on their assets while maintaining exposure to the underlying asset’s price appreciation. The platform also offers features such as yield farming and liquidity provision to enhance the user experience within the DeFi ecosystem.