The protocol of self-paying loans of Alchemix Finance that operates on the Ethereum Blockchain is finally being integrated with the ever-popular Chainlink Price Feeds. The integration is mostly concerned with the mainnet employment of the DAI/USD Chainlink Price Feeds, but this time there will be an expansion by the inclusion of Chainlink Price Feeds for alETH, alUSD, alBTC, and ALCX. These decentralized price feeds operating on the Oracle network shall be referenced on-chain for the processes of liquidation, minting, payback for borrowing and lending by Alchemix Finance, and more DeFi protocols like Cream Finance that are seeking to provide support to the synthetic tokens of Alchemix Finance.
Chainlink is the best Oracle-based solution for securing the $1.5B+ in TVL for Alchemix Finance, as Chainlink offers the most effective decentralized Oracle-oriented solutions. The time-tested Oracle solution of Chainlink is already renowned for securing more than $10 billion in on-chain assets for the foremost DeFi protocols. Every Chainlink Price Feed is supported by robust Oracle-based infrastructure and data of supreme quality. The infrastructure of Chainlink Price Feed has proven time and again to be resistant against unprecedented failures like flash crash outliers, attacks of data manipulation through flash loans, and API downtime.
Alchemix is a protocol of self-repayment of loans that channelizes the deposited collateral funds of users to the Yearn vaults, where the secured yield is employed automatically for the repayment of loans. This whole process serves to advance the future yield of the users over time, thereby furnishing the users with easy ways for the deployment of their assets in a capital-effective manner. At present, the registered users can make deposits in DAI at Alchemix Finance to obtain alUSD, the native stablecoin of Alchemix, through minting. The stablecoin possesses a minimum collateralization ratio of about 200%. The amount in DAI gets deposited in the Yearn yvDAI vaults to repay the users’ Alchemix debts.