Alkemy is a decentralized stablecoin protocol that operates on a variable spectrum; allowing users to mint different types of stablecoins (genesis: pUSD, pKRW, pEUR) while relying on a single set of collateral – USDC + PRIMA (Alkemy’s share token). A shared collateral pool allows for support for multiple stablecoin currencies regardless of trading volume and market dominance, with strict controls in place to ensure that treasury assets & collateralization ratios remain stable. Taebit & Alkemy aims to bridge the gap between legacy finance and DeFi by creating the world’s first decentralized foreign exchange (“FOREX”) ecosystem to provide innovative solutions to existing pain points in both the cryptocurrency and global currency markets.
Cryptocurrencies are well underway toward mainstream adoption which is amplifying the need for stablecoins representing different local currencies and a decentralized platform for trading between each denomination [1].
The vision is to become the first DeFi ecosystem where stablecoins denominated in any potential fiat currency can be minted and traded (spot and future) in a censorship resistant, permissionless, stable and efficient platform with no barriers to entry, minimal fees, low slippage, and deep liquidity.
