ETH version platform is now available to public testing

Alchemint
Alchemint
Jun 7 · 2 min read

Alchemint ETH Version stablecoin issuance platform is now available for testing!

http://eth.alchemint.io

How can I participate?

1. Install Metamask ( https://metamask.io/)

(Here is a guide that can help you prepare: https://medium.com/publicaio/a-complete-guide-to-using-metamask-updated-version-cd0d6f8c338f)

2. Switch the Network to Kovan Test Network.

3. Copy your ETH Address after that sign in and post it on https://gitter.im/kovan-testnet/faucet ,you will receive 3 ETH testnet tokens in your wallet.

4. Open http://eth.alchemint.io/ start testing.

How to Issue ETH SDUSD?

Here is the workflow for the first time using the platform

The 2 boxes on the first row are authorized ETH and authorized SDUSD, we will fix this with other UI problem soon.

How to modify Mortgage rate after Issuing ETH SDUSD?

There are 2 methods to modify the Mortgage rate:

1. Add ETH or Draw SETH, change the amount of collateral ETH, modify the Mortgage rate.

2. Issue SDUSD or Return SDUSD, change the amount of SDUSD issued, modify the Mortgage rate

What role does SDS play in the ETH version of the platform?

In the ETH version of the platform, instead of paying SDS as Mortgage Service Fee, the Mortgage Service Fee will be paid with SDUSD. We will not map SDS to ETH network.

So how will SDS holder benefits from Alchemint progress development?

We decided to distribute ALL the Mortgage Service Fee to user participating in our staking program. This will be a new use case for SDS and compared to deflation of SDS total supply, the rewards are easier to see.

The staking details and testing will be available soon. Please stay tuned!

(The NEO platform SDS use case is unchanged)

Alchemint

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Alchemint

Alchemint is the NEO ecosystem’s stable coin.