Launching the alETH Alchemix Pool
The Alchemix alETH pool has been added to Saddle!
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On June 12, Alchemix announced the release of alETH 一 a synthetic, ETH-backed asset. Before the end of the weekend, the initial alETH cap of 2,000 was met, and alETH was primed for the market.
Today, we’re excited to launch alETH on Saddle as the first LP to be part of the alETH ecosystem. The multi-ETH pool will allow users to seamlessly and cheaply switch from other types of pegged-value ETH assets (backed or wrapped) into alETH, ensuring exposure and adoption of the novel DeFi asset.
Check out Alchemix’s announcement and guide to depositing on Saddle!
Head to saddle.exchange to get into the pool and start LPing and/or trading with alETH!
Why Alchemix & alETH
Alchemix is a platform powering self-repaying loans for the DeFi ecosystem. alETH is an ETH-backed asset (as opposed to wrapped ETH), meaning that loans of alETH will not be liquidated on the Alchemix platform. With the launch of alETH, Alchemix continues to build itself as the safest place to put your assets — and now ETH — to work as collateral. We’re excited to be part of the launch of alETH as the first LP!