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Alchemix Coin (ALCX) is the native cryptocurrency of the Alchemix platform, which is designed to create synthetic tokens.
What is Alchemix (ALCX)?
Alchemix is a platform built to create yield-backed synthetic tokens. The requirements for creating synthetic tokens involve having an existing on-chain yield generation mechanism such as stablecoins or ERC20 tokens. This could include lending markets like Compound, AAVE, or vault-like products like yyDAI Vault or aLINK Vault. The Alchemix team is targeting stablecoins for the first synthetic token, which will be called alUSD. The plan is for alUSD to be mintable from several stablecoins, but initially, the protocol will only support DAI.
Alchemix is a system designed to create a new type of yield-backed synthetic asset. These tokens provide a powerful and novel service for DeFi users and protocols to utilize and build upon. The al-tokens have multiple pegging mechanisms. The transmutation pool, the vaults’ settlement with sub-tokens or their underlying equivalents, incentivizing pairs on AMMs, and broader adoption of al-tokens all contribute to the system. The Alchemix DAO treasury supports developers and adds value to the wider Ethereum 
$2,519 ecosystems.
Where to Buy ALCX Coin?
ALCX Coin can be safely bought and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. ALCX Coin is traded on Binance in the ALCX/BTC, ALCX/USDT, and ALCX/BUSD pairs.
To purchase ALCX, you must first sign up for an account on Binance. Once the registration is complete, you need to transfer either cryptocurrency or fiat currency to your Binance wallet. After the transfer is complete, you can buy ALCX Coin from one of the three pairs mentioned above. To buy from the ALCX/USDT pair, first go to the interface for this trading pair. In the limit section, enter the amount you wish to buy. After specifying the amount, complete the purchase by placing a buy order for ALCX.
