Alchemint Monthly Progress Report (June 2019)

Alchemint
Alchemint
Jul 4 · 4 min read

Alchemint Stablecoin Issuance Platform Status

As the crypto market conditions are improving, the platform is now more used than ever before. Alongside Bitcoin price increase, NEO price reached a yearly high of $20.

Due to NEO price increase, more SDUSD can be issued. Compared to May’s data, Total SNEO Collateralized, Total SDUSD Issued and the Overall Mortgage Rate all increased.

The Total Service Fee Paid (SDS) is continuously increasing (almost 200% increase).
It’s the 4th month in a row with a big increase.

On 28th June, the Total SDUSD Issued reached a new high record of $144088.96

Due to NEO latest upgrade (), the Network Fee mechanism will be adjusted. Because of this upgrade, some users were unable to convert their SNEO back to NEO. The developers are working on a fix for this issue.

May 2019
June 2019

Research & Develop

NEO Version Platform Optimization

Optimized the SNEO convert back to NEO issue.

To adapt to the latest NEO upgrade (), we added the option to add GAS to every transaction on the platform (except NEO convert to/back SNEO). We recommend users to add GAS to their transactions.

ETH Version Platform

Public testing is now open, please check

DeAcc Platform

(More detail will be released soon)

RSK Version Platform

All SAR related smart contracts are finished. We are now testing and debugging them.

ConfigCenter smart contract and risk management system are finished.
It uses Oracle to feed the Bitcoin market price from multiple exchanges.

We are developing a user front end interface which includes:

  • Issue/Return/Liquid Stablecoin interface.
  • RSK wallet page, help users to create wallets and manage their assets.

Community Operation

Visited NGD Shanghai Office

On 12th June, Alchemint team visited NEO Global Development Shanghai Office for a meeting with NEO founder Da Hongfei and NGD members.
Alchemint founder Elva Zhang and the lead operation team showed and explained to NGD members how to use the platform, the current state of the stablecoin market and they presented the future plans of Alchemint.

After Da heard SDUSD had been successfully launched on several exchanges and has been used by a good amount of the community, Da acknowledges and complemented Alchemint’s progress. He also provided some useful suggestions to improve the stablecoin issuance platform. The successful launch of the platform means a lot to NEO and the broader vision of a smart economy. NGD spoke out their hopes for a wider use case for SDUSD. The two parties will keep in touch and will cooperate more in different fields to help NEO ecosystem prosper.

Initiate Temporary Manual SNEO<->NEO Swap Service

Since we still haven’t solved the issue causing SNEO convert to NEO problems, we will provide a temporary manual SNEO swap service, for user who want to swap their SNEO back to NEO, please email us and we will respond with further details ASAP.

Attended Polkadot China Tour — Shanghai

On 12th June, Alchemint attended Polkadot China tour Shanghai event. The event is organized by Web3 foundation, Polkadot, Longhash and Hashbang. Polkadot is a platform with low entry barriers for flexible, autonomous economies acting together within Polkadot’s shared security umbrella. Polkadot is a revolution, not just in blockchain technology but also towards enabling fairer peer-to-peer digital jurisdictions.

Attended Staking: Era of Mining 2.0 Event

Staking is the topic Alchemint was paying attention to. On 21st June, Alchemint attended Staking: Era of Mining 2.0 organized by Crypto Velly. This was very impactful, people from mining pools, wallets, public chains, nodes, and serval project teams attended this event.

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Alchemint is the NEO ecosystem’s stable coin.