The Train Wreck that is Alchemint’s “Stablecoin”, Neo’s CDP platform — Tips to getting your CDP Collateral off of Alchemint, and using DAI as the Alternative, with a Future CDP Platform from Switcheo

I’ve been using Alchemint as a stablecoin CDP system for a couple years now. I learned of it through Da speaking at the NEO annual conference in the last crypto bull cycle.

The “Stablecoin” is SDUSD, and I put it in quotes because it rarely is equal to the 1 USD value that it’s designed to hold value for, and also, because it’s liquidity is so poor that if you put in a 100 USD swap, you will move the peg 7% on Switcheo on the MOST liquid pair that exists.

I’ve continued to have problems with Alchemint’s online portal as well, and I have reported many of them. Most often, I’m told it’s a known problem, and yet it’s not their fault. They say it’s NEO’s fault, usually, and then nothing changes whereas other NEO platforms like Switcheo have proven to be very efficient, reliable, and trustworthy.

I’ve tried multiple browsers and multiple wallets with Alchemint, and Chrome/Brave seems to work “best”, if…