Led · Equity · Mar 2021

Alchemix is a DeFi lending protocol that issues a native token called ALCX. The protocol completed its first institutional raise by selling ALCX tokens to investors at $700 per token. Proceeds from the token sale were transferred to the founders as compensation for prior work and to enable them to commit to full-time development. The funding will be used for audits, contractors, hiring, marketing and community efforts. The raise also included token-sale terms restricting founder and investor token sales for set periods to limit immediate secondary-market supply.