Alchemint - Overview 🚨❄️
TLDR: Stable coin on NEO. Two tokens sdUSD (always 1$) and SDT (price depends on demand) Stable coin value is backed by collateral in ex. Neo. ✅
Vision: §e Create the first stable coin on the NEO blockchain & NEX Platform. First stable coin truly backed by collateral 🌟
How: §g By using Alchemint smart contracts to handle token management, loan management, fee management, external price consideration, interest management, and SAR management. 💸
SAR example: §i Smart contract - 1) User creates a SAR and send NEO into the SAR for mortgage. SAR will evaluate the mortgage rate to create X amount of sdUSD. (Ex: 10 NEO into the SAR and the market price for 1 NEO is 100 USD. The mortgage rate is 200%. Then SAR will create 500 sdUSD. 2) If the user wants to redeem those 10 NEO, he has to give 500 sdusd back to SAR and pay certain commission in SDT (their 2nd token). 3) If the value of NEO break the liquidation level (10 NEO fall to 750 US dollars), the mortgager must take additional investment in order to make the value of collateral above the liquidation level. If no action is taken, everyone has the authority to liquidate this SAR in force and ask for extra bonus. Meaning if price of NEO goes down the mortgage rate falls as well, if NEO goes up then the collateral and mortgage rate goes up. These calculations are handled by an AI mechanisms called "the Alchemist" and the Oracle 👀
Once the technical foundation to maintain the stable coin has been created, additional financial features will be added that are only attributed to markets that have a stable backed currency. This includes mortgage rates, liquidation rates, stable fees, and debt ceilings. Alchemint plans on developing web and mobile applications for users to easily access these financial instruments. 🌠
Along with the added features of a stable coin, Alchemint’s SDT token will be free to transact or can be used as long term storage. It will provide access to a leveraged trading platform and in the future will grant access to cross-chain mortgage of assets using smart contracts. 💥§d
Team: 🐬 Ting Zhang (CEO) - investment advisor for China Merchants Securities, COO in P2P Jili Treasure, CEO of a community financial platform - Feng Qi (CTO) - General manager of China E-Commerce Division, senior consultant of Neusoft Financial Division, CTO of Renhe Capital Group - Frank Zhang (CPO) - 10 years of experience with futures companies, state-owned banks, and private equity funds - Steel Chen (Development Engineer) - IBM Senior Engineer and Financial Technology Specialist - Advisors: 😍 Bo Shen: partner of Fenbushi Capital, the largest blockchain investment fund in China - Yanming Wang: Professor at Peking University with research in financial engineering, financial markets and investments, and risk management - Yu Chen - Chief strategic advisor for JD Finance and Wacai - Ming Sun - Partner of Broad & Bright Provides Legal Services
Partnerships: 🌕 NEO Foundation Ltd + VC firms
Roadmap: 🌊 Q2 2018 Web wallet and public beta website. Q3 2018 App wallet and Smart Asset Reserve system. Q4 2018 Official release
Token metrics: 🧤 Hard cap $50M. Token circulation 1 billion SDT. Public sale (45%), Early investors (15%), Cornerstone investors (10%).
Date of ICO 🌪 Not yet set.
Website: http://alchemint.io
Telegram: https://t.me/Alchemint
English whitepaper:
TLDR: Stable coin on NEO. Two tokens sdUSD (always 1$) and SDT (price depends on demand) Stable coin value is backed by collateral in ex. Neo. ✅
Vision: §e Create the first stable coin on the NEO blockchain & NEX Platform. First stable coin truly backed by collateral 🌟
How: §g By using Alchemint smart contracts to handle token management, loan management, fee management, external price consideration, interest management, and SAR management. 💸
SAR example: §i Smart contract - 1) User creates a SAR and send NEO into the SAR for mortgage. SAR will evaluate the mortgage rate to create X amount of sdUSD. (Ex: 10 NEO into the SAR and the market price for 1 NEO is 100 USD. The mortgage rate is 200%. Then SAR will create 500 sdUSD. 2) If the user wants to redeem those 10 NEO, he has to give 500 sdusd back to SAR and pay certain commission in SDT (their 2nd token). 3) If the value of NEO break the liquidation level (10 NEO fall to 750 US dollars), the mortgager must take additional investment in order to make the value of collateral above the liquidation level. If no action is taken, everyone has the authority to liquidate this SAR in force and ask for extra bonus. Meaning if price of NEO goes down the mortgage rate falls as well, if NEO goes up then the collateral and mortgage rate goes up. These calculations are handled by an AI mechanisms called "the Alchemist" and the Oracle 👀
Once the technical foundation to maintain the stable coin has been created, additional financial features will be added that are only attributed to markets that have a stable backed currency. This includes mortgage rates, liquidation rates, stable fees, and debt ceilings. Alchemint plans on developing web and mobile applications for users to easily access these financial instruments. 🌠
Along with the added features of a stable coin, Alchemint’s SDT token will be free to transact or can be used as long term storage. It will provide access to a leveraged trading platform and in the future will grant access to cross-chain mortgage of assets using smart contracts. 💥§d
Team: 🐬 Ting Zhang (CEO) - investment advisor for China Merchants Securities, COO in P2P Jili Treasure, CEO of a community financial platform - Feng Qi (CTO) - General manager of China E-Commerce Division, senior consultant of Neusoft Financial Division, CTO of Renhe Capital Group - Frank Zhang (CPO) - 10 years of experience with futures companies, state-owned banks, and private equity funds - Steel Chen (Development Engineer) - IBM Senior Engineer and Financial Technology Specialist - Advisors: 😍 Bo Shen: partner of Fenbushi Capital, the largest blockchain investment fund in China - Yanming Wang: Professor at Peking University with research in financial engineering, financial markets and investments, and risk management - Yu Chen - Chief strategic advisor for JD Finance and Wacai - Ming Sun - Partner of Broad & Bright Provides Legal Services
Partnerships: 🌕 NEO Foundation Ltd + VC firms
Roadmap: 🌊 Q2 2018 Web wallet and public beta website. Q3 2018 App wallet and Smart Asset Reserve system. Q4 2018 Official release
Token metrics: 🧤 Hard cap $50M. Token circulation 1 billion SDT. Public sale (45%), Early investors (15%), Cornerstone investors (10%).
Date of ICO 🌪 Not yet set.
Website: http://alchemint.io
Telegram: https://t.me/Alchemint
English whitepaper: