The cryptomarket went down during October. NEO launched Flamingo but nonetheless, NEO price still dropped from $20 to around $15.
Alchemint users have added SNEO as collateral to prevent their Mortgage rate to drop too low, but the platform’s overall Mortgage Rate still declined a bit.
Another way to prevent Mortgage Rate drops is to redeem back SDUSD, this resulted in a decrease in the total SDUSD issued in October.
TL;DR, you can now access https://neo.alchemint.io/sds for the ERC20 migration, once you send your NEP-5 SDS, it will be irreversible. You will receive ERC20 SDS 14 days later and FLM airdrop within 48 hours.
As we announced in early October, we will migrate 50% of the total supply, 500,000,000 SDS to Ethereum network.
And mentioned later, we will distribute FLM airdrop for every 25,000 SDS to participate in the token migration:
This is the step-by-step guide for token migration.
As we promised here are the details for the FLM airdrop to NEO DeFi early-stage supporters and the Alchemint community.
The Airdrop will be distributed on 25th October.
Team and partners address are excluded for the airdrop, to allow our users to benefit the most.
Based on the block snapshot data, we made the following calculation for the airdrop:
People who used NEO early-stage DeFi products and Alchmint users will be rewarded the most. …
Sorry for the delay in the August monthly report, caused by our mistakes in our work. In the future, we will keep publishing monthly reports on time.
The Crypto market is steadily moving up for the past 2 months.
Neo released their Defi platform http://flamingo.finance/. Neo price moved up from $12 to $26 in the middle of September.
Comparing 2 tables, although there is lless SNEO collateralized due to Neo price going up, the Overall Mortgage Rate has declined. Total SDUSD Issued increased.
The Total SDUSD Issued has reached over 60K in early September. Due to people moving their NEO…
Based on recent research, we believe while we keep developing our NEO platform and empowering NEP-5 SDS, migrating SDS partially to ETH network (ERC-20) will be best for Alchemint and SDS holders. We will migrate 50% of the total supply, 500,000,000 SDS to Ethereum network. We will post the migration instruction soon.
The original plan when we started the project back in 2017 was to use NEP-5 SDS indefinitely. We build the platform from scratch to what it is now, we deployed our platform on NEO blockchain at the end of 2018. …
The Crypto market is steadily moving up in July, Neo’s price went up almost 40% throughout the month.
Unlike June the status of the Alchemint stablecoin issuance platform experienced a increase due to NEO price increase.
The Total Service Fee Paid has increased in July.
June’s crypto market is steady, Neo’s price went up slightly in the beginning of June, it went down again after that.
Total SNEO Collateralized had a 10% decrease compared to May, Total SDUSD Issued decreased less than 10%, so the overall Mortgage Rate decreased due to NEO price.
The Total Service Fee Paid had increased in June.
Bitcoin Halvening took place in May. The cryptocurrency market has not been affected with huge fluctuation, the market has risen steadily throughout May. NEO rose significantly this month, from the lowest $9 to $12 at the end of the month.
With NEO price increase, although Total SNEO Collateralized, the Total SDUSD Issued and Overall Mortgage Rate has increased.
Total Service Fee Paid (SDS) had increased this month.
After the market plunged in March, April seemed exceptionally calm. The overall cryptocurrency market has risen this month, and all DeFi platforms have increased their stablecoin issuance while the mortgage rate increased or kept the same level.
In the middle of April, the Total SNEO Collateralized decreased slightly, but the Total SDUSD Issued increased.
However, because the NEO price of collateral rose from 7 dollars at the beginning of the month to nearly 10 dollars at the end of the month, the global mortgage amount increased from 234% to nearly 300%.
There are more frequent platform users this month, mainly…
Alchemint is the NEO ecosystem’s stable coin.