We've heard lots of questionable crypto-based business plans, but as far as I know, this is the first one to actually have "alchemy" in its name.
Now that's where he are wrong. With @AlchemixFi we take your DAI (usd stablecoin) and put it in a yield aggregator (which makes ~15% interest), and then use that as collateral to mint you a new synthetic USD stablecoin ($alUSD). We created new money - not shifted deposits around.
— scoopy "CFA, MBA, YUNT, PhD, NGMI, HFSP" trooples (@scupytrooples) April 4, 2021
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