Project & Team
Description of Project
Provide a narrative description of the purpose of the project.
Alchemix is a protocol for saving, borrowing, and earning fixed-yield returns. Alchemix v3 combines those functions in one app: users can deposit ETH or USDC into vaults to receive Mix-Yield Tokens, which represent shares of yield strategies chosen by the Alchemix DAO and reflect continuously accrued yield in their redemption value. Users can withdraw at any time with no vault lock-ups and can borrow up to 90% against their deposits while those deposits continue earning yield. Alchemix self-repaying loans have no interest and no price-based liquidations. Users can also deposit alETH or alUSD into the Transmuter and redeem the underlying asset after a fixed term, with arbitrage helping keep alAssets near parity.
Known Project Team
For each existing entity: Labs/DevCo (e.g., Founder, CEO, CTO, COO), Foundation (e.g., President, Executive Director, CFO, COO), and DAO / onchain governance leadership (if applicable) list the:
- (a) full names,
- (b) official titles,
- (c) and prior experience of key team members.
For any non-existent entity, explicitly mention it does not exist. External links may be included but they will not factor into the score.
Labs / DevCo
Full Name | Official Title | Prior Experience |
|---|---|---|
Does not exist |
Foundation
Full Name | Official Title | Prior Experience |
|---|---|---|
Does not exist |
DAO / Onchain Governance
Full Name | Official Title | Prior Experience |
|---|---|---|
Scoopy Trooples | Co-founder | early Bitcoin and Ethereum adopter, front end developer and co-founder of Alchemix |
Gorby | Co-founder | early Bitcoin and Ethereum adopter, co-founder of Alchemix. |
DAO Structure
Provide a structured description of the DAO's governance, powers, and economic rights. If a DAO does not exist, state so for each sub question. Even if there is no DAO, there must be an answer to (d). Address the lettered items below.
- (a) IP ownership & control — State what IP the DAO owns or controls (e.g., codebases/repos, trademarks/brands). Note any license if relevant.
- (b) Contract/admin powers — List on-chain or administrative authorities and limits: pause/upgrade roles (e.g., multisig pause), governance-executor authorities, and the method of authority for each (e.g., veto, majority, super-majority).
- (c) Locked-token rights (conditional) — If locking/staking for additional rights exists, explain the additional rights and what tokenholders can and cannot decide. If no locking mechanism exists, leave absent.
- (d) Current tokenholder governance rights and economic arrangements — If any, describe the current governance rights of tokenholders and any presently operative rights or arrangements relating to treasury actions, fee-routing, rewards, buybacks, or other protocol-controlled resources. If none, state that explicitly.
- (e) Control surface reliance — If any, briefly describe the anticipated or possible evolution of the protocol's governance/control model.
- (f) Dissolution authority — State who can dissolve/wind up the DAO and by what mechanism (e.g., on-chain vote threshold, board resolution of a legal wrapper).
(a) IP ownership & control
Alchemix v3 is licensed under a BSL license. The license and codebase is owned by the DAO and enforced by the Alchemix Association. The DAO owns or controls no other IP, including no trademarks or brands. The DAO controls the github repository hosting the v3 code.
(b) Contract/admin powers
Alchemix operates primarily via a DAO Multisig composed of founders, contributors, and community members, which acts as the primary DAO mechanism. ALCX is the governance token of the Alchemix protocol and allows users to influence protocol direction by voting on submitted proposals. ALCX proposals need a 35,000 ALCX quorum and 50% yes. Results are non-binding signals executed by the 4/7 DAO multisig.
The protocol’s stated goal is to turn over power to on-chain governance, and Alchemix v3 has been built with the objective of incorporating on-chain governance. Under AIP-113, the Alchemix DAO voted to transfer certain operational functions previously performed by Alchemix DAO members to the Alchemix Association. Those functions include farming of Association-owned assets and payroll operations, signing agreements, and marketing. Where DAO Multisig powers and other responsibilities do not have a clear path to on-chain governance, they can instead be transferred to a legal entity, and the Association is gradually taking over contributor payments, legal agreements, and operational tasks.
The DAO multisig is 4/7 and has all authority to execute transactions, thus a multisig threshold is required for operations pertaining to the protocol and treasury, including protocol upgrades. Individual contributors also have pausing roles with 1/1 thresholds, but these are the only roles with individual thresholds. Individual pause control applies to Alchemists and MYTs only (prevents future deposits and minting). Individual pause roles can only pause - they cannot unpause.
(c) Locked-token rights (conditional)
Staking ALCX in the Staking Pool earns a share of emissions. Staking confers no additional governance rights
(d) Current tokenholder governance rights and economic arrangements
ALCX is the governance token of the Alchemix protocol and allows users to influence protocol direction by voting on submitted proposals. Alchemix currently operates primarily through a DAO Multisig of founders, contributors, and community members, while the protocol’s goal is to turn power over to on-chain governance; Alchemix v3 has been built with the objective of incorporating on-chain governance. No governance proposals were voted on in Q2 2026.
Current economic and protocol-resource arrangements include continuous ALCX issuance under a pre-defined schedule. Weekly emissions decreased to a baseline of 2,200 tokens per week by March 2024 and remain at that baseline from March 2024 onward. ALCX emissions are used to support the strategic goals of the protocol, including ongoing incentives for single-sided staking, ALCX liquidity, and alAsset liquidity. Alchemix also provides staking options for ALCX holders to minimize the effects of token inflation, and the protocol has begun transitioning emissions toward accumulating strategic assets while decreasing direct liquidity incentives as the protocol becomes self-sustaining.
The main goal of the Alchemix treasury is to support and expand the protocol. The treasury acquires assets that can provide sufficient liquidity for protocol needs or serve another strategic purpose, and, as a baseline, protocol revenue is invested into those assets. The DAO is approved for $450,000 in quarterly expenses for contributors, services, audits, bug bounty programs, transaction gas costs, and similar items. An additional 20% of all emissions goes to the core development team, and part of that funding also supports business development and governance, newsletter/reporting subDAOs, and support/moderator contributors. That approval does not cover expenses incurred in incentivizing market participants, such as bribes on Votium and elsewhere.
Under AIP-113, the Alchemix DAO voted to transfer certain operational functions previously performed by DAO members to the Alchemix Association. Those services include farming of Association-owned assets and payroll operations, signing agreements, and marketing, and the Association is gradually taking over contributor payments, legal agreements, and operational tasks.
Current governace requires a quorum of 35k ALCX with > 50% of votes in favor of "yes". All proposals can only include yes/no/abstain as options. Proposals must follow the community governance process at https://docs.alchemix.fi/governance/onchain/governance-process?_highlight=governance#community-governance-process. The 4/7 DAO multisig is the executor of passed proposals. ALCX holders vote on proposals, which are non-binding signals executed at the discretion of the 4/7 DAO multisig. No fee-routing rights, buyback rights or direct claims on treasury assets accrue to tokenholders.
(e) Control surface reliance
Alchemix currently operates primarily via a DAO Multisig of founders, contributors, and community members that acts as the primary DAO mechanism. The protocol’s goal is to turn over power to on-chain governance, and Alchemix v3 has been built with the specific objective of incorporating on-chain governance. Where DAO Multisig powers and other responsibilities do not have a clear path to on-chain governance, they can instead be transferred to a legal entity. As per AIP-113, the Alchemix DAO voted to transfer certain operational functions that had been performed by Alchemix DAO members to the newly established Alchemix Association, which is gradually taking over contributor payments, legal agreements, and operational tasks.
Alchemix has entered audit for an onchain governance system, built on Aragon OSX using a new staking system calle vqALCX, as of September 2026. From here, certain onchain powers can be turned over to onchain governance in a stepwise sequential manner.
(f) Dissolution authority
no dissolution authority or mechanism exists
Primary Foundation
For the Primary Foundation do the following independently. If a Foundation does not exist, state so for each sub question. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist. Definition: The primary Foundation can be explained as the entity which was directly/indirectly involved in the issuance of the native token at launch. If the original Foundation has been dissolved and in its place a "new Foundation" was created, then detail the "new Foundation".
- (a) Entity — Type and jurisdiction.
- (b) IP ownership & control — What IP the entity owns/controls (repos/code, trademarks/brand; license optional)
- (c) Powers over DAO, treasury, protocol-controlled resources, and token administration — If any, describe the current powers over DAO governance, treasury actions, protocol-controlled resources (e.g. revenue), token administration, or reward parameters, and the method/threshold for each.
- (d) Powers over DevCo — Explain whether the foundation can exert direct or indirect influence over decision-making of the DevCo.
- (e) Contract/admin powers — Pause/upgrade/governance-executor authorities, and the method/threshold for each (e.g., veto/majority/super-majority).
- (f) Current economic arrangements and distribution policies — Describe any current governance-approved, contractual, or programmatic mechanisms, if any, by which protocol-controlled resources, treasury assets, fees, revenue, rewards, or token distributions may be directed to this entity, its equityholders, contributors, or other participants. If no such mechanism currently exists, state that explicitly.
(a) Entity
No primary foundation exists. The DAO issued the issuance of the native token.
(b) IP ownership & control
No Primary Foundation exists.
(c) Powers over DAO, treasury, protocol-controlled resources, and token administration
No primary foundation exists.
(d) Powers over DevCo
No primary foundation exists.
(e) Contract/admin powers
No primary foundation exists.
(f) Current economic arrangements and distribution policies
No primary foundation exists.
Primary DevCo
For the Primary DevCo do the following independently. If an entity does not exist, state that explicitly across each sub-question. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist. Definition: The primary DevCo can be explained as the entity which was directly/indirectly involved in the issuance of the native token at launch. If the original DevCo has been dissolved and in its place a "new DevCo" was created, then detail the "new DevCo".
- (a) Entity — Type and jurisdiction.
- (b) IP ownership & control — What IP the entity owns/controls (repos/code, trademarks/brand; license optional)
- (c) Powers over DAO, treasury, protocol-controlled resources, and token administration — If any, describe the current powers over DAO governance, treasury actions, protocol-controlled resources (e.g. revenue), token administration, or reward parameters, and the method/threshold for each.
- (d) Powers over Foundation — Explain whether the DevCo can exert direct or indirect influence over decision-making of the Foundation.
- (e) Contract/admin powers — Pause/upgrade/governance-executor authorities and the method/threshold for each (e.g., veto/majority/super-majority; "3/5 multisig").
- (f) Current economic arrangements and distribution policies — Describe any current governance-approved, contractual, or programmatic mechanisms, if any, by which protocol-controlled resources, treasury assets, fees, revenue, rewards, or token distributions may be directed to this entity, its equityholders, contributors, or other participants. If no such mechanism currently exists, state that explicitly. Do not discuss hypothetical future dividends, repurchases, or distributions unless formally adopted.
(a) Entity
No Primary DevCo exists
(b) IP ownership & control
No Primary DevCo exists.
(c) Powers over DAO, treasury, protocol-controlled resources, and token administration
No Primary DevCo exists
(d) Powers over Foundation
No Primary DevCo exists
(e) Contract/admin powers
No Primary DevCo exists
(f) Current economic arrangements and distribution policies
No Primary DevCo exists
Affiliated Protocol Contributor
Definition (for this section): An Affiliated Protocol Contributor (APC) is a non-issuer company - not the protocol's primary Foundation or DevCo - that materially contributes to the protocol's code, operations, governance, or funding. For example, Blockworks Advisory would be considered an APC of Ethena because it materially contributes to its operations through Ethena's risk council. Provide a structured description per APC. If no APCs exist, state that explicitly across each sub-question. Items below apply per APC.
- (a) Identity & role — Legal name, entity type, jurisdiction, and role (e.g., core development, security, infrastructure, market making, operations).
- (b) Parameter control & scope — For each existing APC, if any, what major protocol parameters the APC controls; include the method of authority (e.g., veto, majority, super-majority). If none, say so.
- (c) Contract/admin powers — For each existing APC, if any, provide the pause/upgrade powers (e.g., multisig pause), governance-executor authorities and limitations; include the method of authority for each (e.g. veto, majority, super-majority). If none, say so.
- (d) Compensation and material economic arrangements — For each existing APC, if protocol-generated resources or economic value is dynamically routed to the APC, describe the arrangement. If applicable, include the resource sources, routing mechanism, payment frequency, and duration. If no protocol resources or resources-linked economics are routed to the APC, state that explicitly.
(a) Identity & role
Alchemix Association, Swiss Verein Association, Switzerland.
The purpose of the Association is to foster the growth of the Alchemix ecosystem; to enable technical and operational development by hiring and managing contractors, to drive strategy, partnerships, and governance, and to help evolve legal, security, and overall best practices in supporting the Decentralized Autonomous Organization of Alchemix DAO.
(b) Parameter control & scope
The Association does not control any protocol parameters.
(c) Contract/admin powers
The Association does not have any pause or upgrade powers. The Association holds no governance-executor authority and cannot execute DAO proposals.
(d) Compensation and material economic arrangements
DAO Governance: The Alchemix Association has no powers over the DAO. The DAO has limited powers over the association. The Association has its own resources granted by the DAO used to carry out its mission statement of improving Alchemix. The assets held by the association are owned by the Association, not the DAO. The Association must work to benefit Alchemix, which can include being aware of and working towards the interests of the DAO, but the DAO has no direct way to control the Association other than limiting future funding.
Treasury Actions: The Alchemix Association has no powers over the DAO treasury. It can request funding thru the governance system, but the DAO ultimately decides whether or not to fund the Assocation. Funds granted to the Association are owned by the Association, not the DAO. The Association does not hold, control, govern, or have operational permissions for any DAO assets.
Protocol Controlled Resources: These are subject to the same restraints as treasury actions. All protocol controlled resources are owned by the DAO. If granted to the association by the DAO at any point, they are no longer controlled by the DAO.
Token Administration: The Association has no powers over token administration.
Reward Parameters: The Association uses some of its own assets to distribute rewards to Alchemix users and liquidity pool providers on 3rd party platforms, including curve, velodrome, and merkl. These assets are granted by the DAO to the Association.
ALL Association operations require 2/3 signatories onchain and offchain.
Funding is granted ad hoc by DAO governance vote with no fixed schedule and no fixed end date.
Token Supply & Allocation
Initial Allocation
Download the Worksheet, enable macros, complete the Initial Allocation sheet, then use Convert To CSV to export the file for import here. To make edits after importing, update the worksheet, use Convert To CSV again, then re-import the new CSV. The table is the final answer.
Ticker | Date | Allocation Category Name | Recipient Type | Allocation % | Allocation Tokens | TGE Unlock % | TGE Unlock Tokens | Cliff Months | Cliff Unlock % | Linear Vesting Months | Cadence Months | Circulating Treatment | Notes on what each category is used for | If applicable: Contract / Wallet address |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALCX | 3/1/2021 | Pre-Mine (DAO Treasury + Bug Bounties) | Treasury | 0.10224436345614 | 478612 | 1 | 478612 | 0 | 0 | 0 | 1 | Conditional | Pre-mine minted at launch: 358,959 ALCX DAO treasury (15%) + 119,653 ALCX bug bounties (5%); held by the DAO and enters circulation only via treasury spend. Source: https://docs.alchemix.fi/governance/onchain/alcx-token | |
ALCX | 3/1/2021 | Long-Tail Emissions (2024-03 to 2044-03) | Emissions | 0.488778182719299 | 2288000 | 0 | 0 | 36 | 0 | 240 | 1 | No | Long-tail emissions of 2,200 ALCX/week (114,400/yr) starting after year 3; no hard cap, modeled as 240 months (2,200 x 52 / 12 x 240) so the projection fills the full chart through 2041-03-01; the final 36 months (2041-04 to 2044-03) fall beyond the projection. Split 80% LPs/stakers, 20% contributor pool. Source: https://docs.alchemix.fi/governance/onchain/alcx-token | |
ALCX | 3/1/2021 | Initial Emissions (Years 1-3) | Emissions | 0.408977453824561 | 1914448 | 0 | 0 | 0 | 0 | 36 | 1 | No | Year 1-3 slow-mint emissions: ~22,344 ALCX in week 1 declining 130/week, modeled as linear monthly to reach Alchemix's ~2,393,060 supply after 3 years less the 478,612 pre-mine (actual schedule is declining, not flat). Split 80% LPs/stakers, 20% founders/devs/contributors pool. Source: https://docs.alchemix.fi/governance/onchain/alcx-token | |
ALCX | 3/1/2021 | |||||||||||||
ALCX | 3/1/2021 | |||||||||||||
ALCX | 3/1/2021 | |||||||||||||
ALCX | 3/1/2021 | |||||||||||||
ALCX | 3/1/2021 | |||||||||||||
ALCX | 3/1/2021 | |||||||||||||
ALCX | 3/1/2021 | |||||||||||||
ALCX | 3/1/2021 | |||||||||||||
ALCX | 3/1/2021 | |||||||||||||
ALCX | 3/1/2021 | |||||||||||||
ALCX | 3/1/2021 | |||||||||||||
ALCX | 3/1/2021 |
Vesting Insider Tokens
If there are no post-TGE token compensation plans, state explicitly they do not exist across each sub-question. If there are, explain each of (a)–(b) below.
- (a) Post-TGE employee lock as % of total supply — State the current total amount of tokens locked attributable to post-TGE employees, expressed as a percentage of total supply.
- (b) Typical post-TGE vesting schedule — Describe the standard vesting terms used for post-TGE grants, including: cliff length (or "no cliff"), vesting frequency (e.g., monthly/quarterly), and total duration.
(a) Post-TGE employee lock as % of total supply
An additional 20% of all emissions go to the core development team. Part of the core development team funding also funds business development and governance, the newsletter/reporting subDAOs, and payments for support/moderator contributors. Zero tokens are locked attributable to post-TGE employees. Core team emissions are claimable and liquid on emission with no cliff or vesting, so no locked balance exists.
(b) Typical post-TGE vesting schedule
The 20% of emissions that go to the core development do not have any cliff, vesting, or duration terms. As emissions are emitted, they are immediately claimable and liquid by core team.
Disclosure of Token Advisory Billings
Disclose current token-based compensation for external advisors and service providers (e.g., legal, marketing, technical, growth) funded from the on-chain treasury. Do not disclose individual payments to advisors receiving fiat-only compensation. If there are no advisors contracted in tokens then state across each sub-question that no token-based advisory compensation exists.
- (a) Existence — Whether any such token-based payments or advisory commitments exist (or explicitly state that no token-based compensation for advisory commitments exist).
- (b) Total token allocation — For all existing token-based advisors, disclose the total token allocation across all advisory services.
- (c) Payer entity — For each existing token-based advisor, share the payer entity (e.g., Foundation, Labs/DevCo, DAO/treasury).
- (d) Description of advisory/services — For each existing token-based advisor, provide a brief description of the advisory/services (e.g., "legal and regulatory advisory," "growth and BD support," "security advisory").
(a) Existence
no token-based compensation for advisory commitments exist
(b) Total token allocation
no token-based compensation for advisory commitments exist
(c) Payer entity
no token-based compensation for advisory commitments exist
(d) Description of advisory/services
no token-based compensation for advisory commitments exist
KOL Marketing Activities
Disclose ongoing KOL/influencer relationships that partially or fully received tokens for payment. You do not need to disclose KOL/influencers that do not receive tokens for payment. If no KOL engagements exist, state for each sub-question that no KOL engagements exist.
- (a) Existence & scope — State plainly whether KOLs receive tokens for payment.
- (b) Usernames & roles — List usernames/handles (with platforms) for KOLs that received token-based compensation and describe the nature of their activities. Legal names are not required.
- (c) Token allocation & vesting/locks — Provide the aggregate token amount across all such arrangements and summarize vesting, lock, or release terms.
(a) Existence & scope
no KOL engagements existt
(b) Usernames & roles
no KOL engagements exist
(c) Token allocation & vesting/locks
no KOL engagements exist
Labelled Unissued & Operational Token Wallets
For each wallet that holds Unissued Tokens or is essential to operations (e.g., foundation, operations, treasury, investor reserve), disclose:
- (a) A category label explaining the wallet's primary function.
- (b) chain the wallet is on.
- (c) The unique address of the wallet.
- (d) The mechanism of control (e.g., DAO, multisig).
- (e) One verification link to a blockchain explorer.
Definition: Unissued Supply = tokens authorized by the contract but not yet issued to any party; where they sit (treasury or mint authority) does not change that they are unissued. For instance: if a token has a total supply cap of 1B, and 400M tokens have been issued to investors, the team, and users (whether vested or unlocked), then those 400M count as issued supply. The remaining 600M are authorized but unissued supply, even if they are already minted into a DAO treasury wallet.
Title | Primary Function | Chain | Address | Control Mechanism | Explorer Link |
|---|---|---|---|---|---|
4/7 Safe Multisig | Mainnet DAO Treasury Management including ALCX liquidity POL on balancer. | ethereum | 0x9e2b6378ee8ad2A4A95Fe481d63CAba8FB0EBBF9 | Multisig of founders, contributors, and community members | |
Alchemix Staking Pool | Emissions Contract - authorized emissions not yet claimed/issued including core team emissions. Emissions are are minted based on staking. Staking ALCX grants right to public ALCX emissions. Staking TIME grants right to private emissions. Treasury share of emissions is granted to the DAO. Thus the protocol itself only controls unminted uncredited treasury emissions, however the DAO can modify the distribution. | ethereum | 0xab8e74017a8cc7c15ffccd726603790d26d7deca | Distribution changeable by 4/7 DAO Safe Multisig. | |
4/7 Timelock Multisig (Timelock Currently set to 0) | Administering emissions contracts | ethereum | 0x9e2b6378ee8ad2a4a95fe481d63caba8fb0ebbf9 | Multisig of founders, contributors, and community members | |
4/7 Safe Multisig Optismim | Optimism DAO Treasury Management | Optimism | 0xc224bf25dcc99236f00843c7d8c4194abe8aa94a | Multisig of founders, contributors, and community members | |
4/7 Safe Multisig Arbitrum | Arbitrum DAO Treasury Management | Arbitrum | 0x7e108711771dfdb10743f016d46d75a9379ca043 | Multisig of founders, contributors, and community members | |
4/7 Safe Multisig Base | Base DAO Treasury Management | Base | 0x24e9cbb9ddda1247ae4b4eeee3c569a2190ac401 | Multisig of founders, contributors, and community members | |
4/7 Safe Multisig HyperEVM | HyperEVM DAO Treasury Management | HyperEVM | 0xa03e089163af6c05210d4ce99b63ddd21c5753c9 | Multisig of founders, contributors, and community members | |
alETH/fraxETH Elixir Contract | alETH/FraxETH Elixir Management | Ethereum | 0x9fb54d1f6f506feb4c65b721be931e59bb538c63 | Administered and operated by the 4/7 DAO Safe multisig | |
4/7 Safe alUSD Mainnet Elixir | alUSD Elixir Management | Ethereum | 0x1825377ece03098f35951e9600cf3a3cf718bebf | Operated as its own Gnosis Safe, multisig of founders, contributors, and community members | |
4/7 alETH and alUSD Optimism Elixir | alUSD and alETH Elixir Management | Optimism | 0xb29617209961db995dd30a4ab94ba0034a4284f9 | Operated as its own Gnosis Safe, multisig of founders, contributors, and community members | |
4/7 alETH and alUSD Arbitrum Elixir | alUSD and alETH Elixir Management | Arbitrum | 0xb10356C80658FC71Da0Ff4D28052B62f9Ed7d7E8 | Operated as its own Gnosis Safe, multisig of founders, contributors, and community members | |
2/3 Association Operations | Association asset management and operations | Ethereum | 0xdc70b6c0aeb5c6627eaa707fc6c804a2ec43f937 | Association board | |
2/3 Association Management | Association asset management | Ethereum | 0x2f675e4ad89e4abf87c5ad25271a70867bb72b57 | Association board | |
ALCX Token | Token for the Alchemix protocol | Ethereum | 0xdBdb4d16EdA451D0503b854CF79D55697F90c8DF | Only the staking contract 0xAB8e74017a8Cc7c15FFcCd726603790d26d7DeCa has the minter role. | |
4/7 Mainnet V3 Operation Safe | Admin and operate v3 contracts on mainnet | Ethereum | 0xF56D660138815fC5d7a06cd0E1630225E788293D | Operated as its own Gnosis Safe, multisig of founders, contributors, and community members | |
4/7 Optimism V3 Operation Safe | Admin and operate v3 contracts on optimism | Optimism | 0x3Dda174aa9E897e18b8E10e6Ce39c2a52398181d | Operated as its own Gnosis Safe, multisig of founders, contributors, and community members | |
4/7 Arbitrum V3 Operation Safe | Admin and operate v3 contracts on arbitrum | Arbitrum | 0xeE1Aa1C3D0622fCeD823c7720cf9E8079558484b | Operated as its own Gnosis Safe, multisig of founders, contributors, and community members |
Transactions & Market Structures
Market Maker Agreements & Deals
Projects must disclose all material terms of market-making arrangements that affect token liquidity. If the project has no agreements or deals with market makers, state that explicitly. For each market maker, include in a table:
- (a) Market maker's name — the market maker's name;
- (b) Token allocation or loaned amount — the token allocation or loaned amount as a percentage of total supply;
- (c) Duration/term of agreement — the duration/term of the agreement; and, where applicable,
- (d) Name of agreement structure — label the financial vehicle being used in the agreement (i.e. loan, option/call, retainer model).
If no native tokens were loaned or allocated to market makers, state that explicitly; cash/fiat retainers or fees are not required for (b).
Market Maker Name | Token Allocation Committed | Term Duration | Structure Name |
|---|---|---|---|
Fibonacci | 15k ALCX (0.47%) | 3 months, auto renew | retainer |
ReformDAO | 28924 ALCX (0.9%) | 3 months auto renew | retainer |
Exchange Agreements & Deals
Projects must disclose all material terms of centralized or decentralized exchange listings that affect token liquidity. For each listing, include in a table:
- (a) Exchange name / DEX pool — the exchange name (and, for DEX, the specific pool/pair);
- (b) Token allocation for listing — the token allocation supplied or committed for listing as a percentage of total supply;
- (c) Term Duration — the duration/term of any listing lockups, liquidity, or incentive programs; and, where applicable,
- (d) Native-token listing fees — whether any listing fees were paid in native tokens, with amounts (tokens or % of supply), recipients, and any vesting or lock terms tied to the partnership.
If the project has no agreements or deals with CEX or DEX, state that explicitly; doing so earns full credit; cash/fiat fee amounts are not required for this item.
Exchange Name | Token Allocation Committed | Term Duration | Native Token Listing Fees |
|---|---|---|---|
There are no agreements with DEXes/CEXes for liquidity nor have any listing fees ever been paid. |
Liquidity Deals and Market Activity
If a category does not exist or is not applicable, make that clear in plain language.
- (a) Token repurchases or secondary-market accumulations (if any) — Source of funds, treatment (burn, treasury retention, POL, redistribution, or other), policy controller (who can change the secondary-market accumulation strategy), and whether those tokens may be re-used, re-issued, or permanently removed from circulation.
- (b) Protocol-owned liquidity (POL) (if any) — Where deployed, total token or dollar size across deployments, policy controller (who can change the POL strategy), and unwind/exit policy.
- (c) Liquidity deals / purchased TVL (if any) — The total size across all deals, and where the capital participates - no counterparty names needed.
- (d) Token-secured loans/lines (incl. against unissued tokens) (if any) — Principal, gross position size, collateral, counterparties, and unwind/exit policy.
(a) Token repurchases or secondary-market accumulations (if any)
ALCX is not repurchased or accumulated on secondary markets by the DAO or the Association.
(b) Protocol-owned liquidity (POL) (if any)
Alchemix owns ALCX liquidity in Balancer v3 as visible in the Octav dashboard: https://alchemix.octav.fi/app/Treasury.
Dollar size of tokens is ~$100k, subject to fluctations based on impermanent loss.
The 4/7 Safe multisig controls the POL strategy and can unwind or redeploy the position by multisig execution. If Balancer winds down, the position will be withdrawn and redeployed or held in treasury at 4/7 Safe multisig discretion
(c) Liquidity deals / purchased TVL (if any)
There are no ALCX liquidity deals or purchased TVL.
(d) Token-secured loans/lines (incl. against unissued tokens) (if any)
No token-secured loans or lines, including against unissued tokens, exist.
Resource Disclosures
Prior Token Sales & Fundraising
Disclose all prior token sales by the Project — including fundraising rounds, any material OTC sales to investors, and any discounted market-maker sales. For each sale, provide:
- (a) Series Name;
- (b) Early-Stage Investment Instrument used (i.e. SAFT, STAMP, SAFE, SAFE+Token Warrant, etc.);
- (c) Date of sale (at least month & year);
- (d) Number of tokens sold (or % of total supply);
- (e) Vesting schedule.
If no prior sales occurred, state that explicitly (e.g., "No prior fundraising, OTC, or discounted MM sales have occurred.").
Series Name | Investment Instrument | Date Of Sale | Number of tokens sold | Vesting Schedule |
|---|---|---|---|---|
No prior fundraising, OTC, or discounted MM sales have occurred |
Operational Funding, Economic Flows, and Resource Provisioning
Provide a narrative description of the Project's material funding sources, economic flows, and operational provisioning, broken out by entity: Foundation, Lab/DevCo, and DAO. If an entity does not exist, state that explicitly.
- (a) Entity existence — Explicitly state whether each of Foundation, Lab/DevCo, and DAO exists.
- (b) Material sources of funding or economic inflows — For each existing entity, describe its primary sources of operational funding or economic inflows, if any (e.g., service fees, grants, donations, treasury reserves, token reserves, staking rewards, validator/sequencer income, partnership payments, retained revenue, or other protocol-related receipts).
- (c) Operational use of resources — For each existing entity, briefly describe how those resources are generally used (e.g., development, operations, security, ecosystem support, grants, liquidity support).
- (d) Onchain Resource Usage — For each existing entity, provide links to public dashboards and token holder relations reports that help explain on-chain financial activity, treasury activity, fee flows, rewards, or other protocol-controlled resources. Make certain to explain what each link is for.
(a) Entity existence
A DAO exists. The Alchemix DAO voted under AIP-113 to transfer certain operational functions to the newly established Alchemix Association, and Alchemix operates primarily via a DAO Multisig of founders, contributors, and community members that acts as the primary DAO mechanism.
An association exists, which is funded by the DAO and carries out operations to benefit the Alchemix ecosystem independently of the DAO.
A foundation does not exist.
A lab/DevCO does not exist.
(b) Material sources of funding or economic inflows
DAO: Alchemix operates primarily via a DAO Multisig of founders, contributors, and community members. The DAO’s material economic inflows and funding sources include protocol revenue, treasury reserves, ALCX emissions, strategic-asset-related receipts, and occasional third-party grants for user incentives. Protocol revenue for Q2 2026 was $328,580.34, denominated in the USD value of tokens earned when claimed, and included revenue earned by the protocol’s Elixirs and fees from Mainnet, Optimism, Arbitrum, a Velodrome veNFT on Optimism, and an Aerodrome veNFT on Base. The treasury’s main goal is to support and expand the protocol; it acquires assets for protocol liquidity needs or other strategic purposes, with a baseline approach of investing protocol revenue into those assets. ALCX emissions are used to support strategic goals; the protocol is still using ALCX emissions to incentivize single-sided staking, ALCX liquidity, and alAsset liquidity, while beginning a transition toward using emissions to accumulate strategic assets and decreasing direct liquidity incentives as the protocol becomes self-sustaining. Strategic-asset inflows include CVX accumulated through past Olympus Pro bonding in exchange for ALCX, CVX earned from staked liquidity pool tokens and locked CVX tokens, use of CVX with Convex Finance to direct Curve Finance emissions to incentivize liquidity and earn protocol revenue, Velodrome voting power used to direct rewards to relevant alAsset pools, and an AERO position currently used to generate revenue. Alchemix also occasionally receives third-party grants to help provide user incentives.
An association exists, which is funded by the DAO and carries out operations to benefit the Alchemix ecosystem independently of the DAO. Association assets belong to the Association, not the DAO.
A foundation does not exist.
A lab/DevCO does not exist.
(c) Operational use of resources
Alchemix operates primarily through a DAO Multisig composed of founders, contributors, and community members. DAO resources are used to support and expand the protocol, including contributor payments, services, audits, bug bounty programs, transaction gas costs, and other operating expenses. A portion of emissions also funds the core development team, business development and governance, newsletter/reporting subDAOs, and support/moderator contributors. ALCX emissions are used to support strategic protocol goals, including single-sided staking, ALCX liquidity, alAsset liquidity, and an ongoing transition toward accumulating strategic assets.
The Alchemix treasury is used to acquire assets for protocol liquidity and other strategic purposes, including by investing protocol revenue into those assets. Treasury-held assets such as CVX, sdCRV, veSDT, and veVELO are used to direct incentives and rewards to relevant liquidity pools, incentivize liquidity, and earn protocol revenue.
The Alchemix Association exists to carry out actions that it deems beneficial to Alchemix, including operations the DAO cannot take on itself including payroll operations, signing agreements, marketing, contributor payments, legal agreements, and other operational tasks such as treasury farming of its own assets. The Alchemix Association does not control or have operational permissions over DAO assets.
(d) Onchain Resource Usage
DAO / protocol-controlled resources: https://alchemix-stats.com is a public treasury dashboard that highlights revenues and expenses, as well as assets and liabilities. It helps explain treasury activity, fee flows, and other protocol-controlled resources. Q2 2026 protocol revenue is denominated in the USD value of tokens earned when claimed and includes revenue earned by the protocol’s Elixirs, as well as fees from Mainnet, Optimism, Arbitrum, a Velodrome veNFT on Optimism, and an Aerodrome veNFT on Base. Alchemix operates primarily through a DAO Multisig of founders, contributors, and community members. The Alchemix Association is gradually taking over contributor payments, legal agreements, and operational tasks.
Financial reports are published quarterly at https://docs.alchemix.fi/user/financial-reports , typically a few months after the quarter ends. The Q2 2026 report will be available in Q4 2026, as the structure is being entirely redone to account for the Alchemix V3 launch in Q2 2026.
An Octav dashboard is available for both the association and the DAO. The DAO dashboard tracks assets in both the treasury, and the alchemix ecosystem vault (a curated vault that takes advantages of yield opportunities within the ecosystem). The Association dashboard tracks assets held by the Association.
DAO dashboard: https://alchemix.octav.fi/app/alchemixtreasury
Association dashboard: https://alchemix-association.octav.fi/app/Treasury
Previous Exploits Affecting The Native Token
If any, list prior exploits or incidents that directly affected the token, token supply, tokenholder balances, token contract, minting controls, burn mechanics, or custody of token supply. This question is not asking about general protocol, application, or smart contract exploits unless the incident directly affected the native token itself. If no prior incidents, state this explicitly (e.g., "No exploits affecting tokenholders or protocol funds as of YYYY-MM-DD").
- (a) Date & component affected — Date (YYYY-MM or YYYY-MM-DD), chain(s)/component affected.
- (b) Exploit vector summary — Plain-language summary of the exploit vector (what the hack was).
- (c) Quantified impact — Quantified impact (assets/tokens affected or a clear "no loss of funds" statement).
- (d) Remediation/response taken — Remediation/response taken (patches, upgrades, governance actions, compensation).
- (e) Current status — Current status (resolved, in litigation, under investigation, refunded, etc.).
- (f) References — Link(s) to post-mortem/advisory/PR.
(a) Date & component affected
No exploits affecting the ALCX token, supply, contract, minting controls or custody as of 2026-09-18.
(b) Exploit vector summary
No exploits affecting the ALCX token, supply, contract, minting controls or custody as of 2026-09-18.
(c) Quantified impact
No exploits affecting the ALCX token, supply, contract, minting controls or custody as of 2026-09-18.
(d) Remediation/response taken
No exploits affecting the ALCX token, supply, contract, minting controls or custody as of 2026-09-18.
(e) Current status
No exploits affecting the ALCX token, supply, contract, minting controls or custody as of 2026-09-18.
(f) References
No exploits affecting the ALCX token, supply, contract, minting controls or custody as of 2026-09-18..
[Optional] Offchain Foundation Or DevCo Income Statement
Provide a single income statement, expense summary, or comparable operating statement for the primary Foundation or Developer Company. A consolidated or entity-level presentation is acceptable. Balance Sheet and Statement of Cash Flows may be included but are not required. This item is intended to provide transparency into offchain operating resources and expenditures only.
This Token Transparency Filing is provided for general informational purposes only. Blockworks reviews completeness only and does not verify or warrant the accuracy of individual answers. Alchemix is solely responsible for the content, accuracy, and legality of its disclosures.