1. Project introduction

Alchemix Finance is a future-yield-backed synthetic asset platform and community DAO. The platform gives advances on the yield farming via a synthetic token that represents a fungible claim on any underlying collateral in the Alchemix protocol. The DAO will focus on funding projects that will help the Alchemix ecosystem grow, as well as the greater Ethereum community. It contains four elements:

(1) Vaults: Vaults act as the hub to generating yield advances, and share many similarities to lending platforms such as MakerDAO and AAVE. The first collateral type that the protocol will accept is DAI.

(2) Transmuter: The Transmuter allows users to stake their synthetic assets and have them be converted into their base asset over time.

(3) Alchemix DAO: The governance of Alchemix Finance will be managed by a DAO with a liquid governance token, ALCX.

ALCX is a token that grants governance rights in Alchemix DAO. ALCX will not have a hard-cap, but does have a carefully crafted emissions schedule. For the purpose of the token distribution, the team is basing these numbers from the total expected supply after 3 years.

2. Team introduction

Founder: Scoopy Trooples

3. Investment institution

CMS Holdings, eGirl Capital, Alameda Research, Immutable Capital, Nascent, Protoscale Capital, LedgerPrime, Fisher8 Capital, and Orthogonal Trading

4. Application and distribution

Total supply: no hard-cao

Token application: grants governance rights in Alchemix DAO.

Token distribution:

(1) The Alchemix DAO will receive a premine of 15% of the projected supply after three years. Usage of these tokens and proceeds from them is completely up to the community's discretion.

(2) The Alchemix DAO will also have an additional reserve of 5% of the projected three-year supply for bug bounties.

(3) The remaining 80% of the tokens can be obtained by staking certain tokens and liquidity pool tokens in the Staking Pools contract.

· The Alchemix founders, on-boarded developers, and community developers who build on Alchemix will have access to an exclusive staking pool, which will receive 20% of the ALCX block reward. This equates to 16% of all emissions.

· Stakers and liquidity providers are eligible to obtain 80% of the ALCX block reward, equating to 64% of all emissions.