Protocol name: Alchemix
Audits: Alchemix v2 audit, completed in partnership with Runtime Verification | by Alchemix Finance | Medium
TVL: 539.68M$ (Alchemix: TVL and stats - DefiLlama)
- ALCX: 2,4M$
- ALUSD: 500k$
- ALETH: 700k$
- Twitter: 64,4k followers
- Discord: 11,5k members
We propose to whitelist Alchemix on Stake DAO to allow them to lock SDT and vote with veSDT.
Alchemix has been an old friend of Stake DAO. Alchemix has supported the SDT/ETH pool for Stake DAO, and continues to support Stake DAO in the early days of our Liquid Lockers by providing advice and being the first DAO willing to build on top of our CRV locker…
The bonds between Alchemix and Stake DAO are now extremely strong, and it can only be good to strengthen them further. Today, Alchemix would like to lock their SDT on Stake DAO to be able to boost their voting power and vote for their pool on Curve. Furthermore, they are studying the possibility of creating a liquid representation of veSDT (alSDT for example).
What Alchemix is trying to achieve is exactly what we have designed those lockers for. Therefore, it sounds natural to grant one whitelisted address to Alchemix.
NB: if this proposal passes, we will first whitelist Alchemix’s multisig, but if they want to change their whitelist for another contract (e.g. an alSDT contract), we could move the whitelist to this new contract.
Finally, to bootstrap their activities in our locker, they target to hold $1m SDT. They offered to buy 500k from the market and do a token swap for the remaining 500k. We therefore complete this proposal by the following one, for the purpose of this token swap, see SDGP#3
Human resources: hardly any dev. time needed to make this possible
Treasury resources: No treasury resources needed
Update the SDT smart wallet whitelist
Admin: veSDT holders
Community feedback: 2 days minimum
Voting Duration: 3 days
Yes, whitelist Alchemix on Stake DAO
No, reject the Alchemix whitelist
- Yes, whitelist Alchemix on Stake DAO
- No, reject the Alchemix whitelist