Summary:
Alchemix recently launched their new product, an Ethereum derivative backed by collateral in Yearn vaults. alETH was audited by Certik.
Abstract:
This proposal would add a pool of alETH and ETH to the Curve.fi. It would not add a gauge and there are no plans to submit this pool to receive CRV as it already receives yield from CRV.
Alchemix:
Alchemix is a DeFi protocol that allows for the creation of synthetic tokens that represent the future yield of a deposit. It enables users to retrieve near instant tokenized value against temporary* deposits of stablecoins.
The alETH contracts are based on the original Alchemist and Transmuter contracts (audited by Certik: https://alchemix.fi/a208baf6ca7e0d6b0116461f05e27cd9.pdf), with the ability to transact in ETH and WETH. Additionally, we have added functionality to allow users to swap ETH directly to alETH, 1:1, via the Alchemist. Swapped ETH goes directly into the transmuter; ready to back the newly minted alETH, maintain the peg, and increase yield for borrowers and stakers in the Alchemist.
Notes:
Curve will in the coming weeks transition to a fully permisionless set up for plain pools like we have for metapools.
Specification:
Proposed A Parameter: 60
Address / Etherscan link: 0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6
Audit
Poll: