Alchemint Monthly Progress Report (July 2019)

Alchemint Stablecoin Issuance Platform Status

As the crypto market condition declined in July, NEO price also decreased. The price drop required the platform users to return their SDUSD or add more NEO as collateral into their SAR to keep their SAR status safe.

As a result, the Total SDUSD Issued declined and Total SNEO Collateralized increased.
The Overall Mortgage Rate still went down.

The Total Service Fee Paid (SDS) is continuously increasing (almost 100% increase).

It’s the 5th month in a row with a big increase.

June 2019
July 2019

Finished <Alchemint Decentralized Fintech Framework(ADFF)> Whitepaper

Alchemint Decentralized Fintech Framework(ADFF), is created to solve a big problem that is frequently mentioned ‘’blockchain technology is hard to implement into traditional applications’. ADFF includes Decentralized Currency (DeCur), Decentralized Account (DeAcc), and Decentralized Application to combat this problem. DeCur and DeAcc provide fundamental currency and account system services and SDK for developers to easily connect their system.

The SDK is being developed

(The whitepaper is currently being proofread, we already shared the whitepaper with a few core partners)

Research & Develop

DeAcc Development

DeAcc is launched on our private chain for testing. We are continuingly updating the UX and code logic.

NEXT GE is the demo app for the DeAcc platform.

It’s available for testing on

NEXT GE connects DeAcc, offer function included sign-in testing token, betting, auction, and trade function.

The reason we developed NEXT GE:

  1. Allow user to experience DApp usage with DeAcc.
  2. Inform developers and show them how to plug DeAcc into their App.

(NEXT GE’s auction function is still under development)

RSK Version Platform

Completed the service fee logic for SAR, using RBTC as the collateral service fee.

Completed the front-end control center.

Currently developing the RSK wallet and asset management tab.

Community Operation

NEO EcoBoost Partner

To build its vision of a Smart Economy, NEO is accelerating the realization of next-gen Internet with its EcoBoost program, an initiative which aims to provide full life-cycle support to high-promise projects and start-ups. Recently, NEO completed the first phase of its initiative — EcoBoost Partner recruitment — and is now opening the initiative for all interested projects.

NEO EcoBoost Partner recruitment has garnered attention from leading teams across every blockchain sector, attracting 200 applications. After a thorough review, 50 projects have been chosen included Alchemint.

Attended Libra panel discussion organized by InVault

4th July, Alchemint BD manager Harvey attended a panel discussion, the topic was “Is Libra the future of Blockchain?”.

Libra a project developed by Facebook and other big corporations it gained a lot of attraction since the whitepaper release.

The speakers included McDonald China, Chinese Academy of Sciences, Alipay’s AntFin, and Quarkchain. Harvey’s option received high recognition.

Attended BBNews Bitcoin event

On 14th July, Alchemint founder Elva Zhang attended BBNews Bitcoin event and participate in the panel discussion.

In the applications panel discussion, Elva shared problems we faced during the project. First, Blockchain and DApps are still in a very early stage, although Bitcoin and later on ETH attracted a lot of people to learn about blockchain in the application aspect ETH did not achieve big progress.

Elva also mentioned, currently we put lots of attention on cross-chain, each chain is like a highway, with cross-chain functionality, it can connect every chain together.

Attended FutureDAO event organized by NEL

On 28th July, Alchemint’s Stephen attended the event “FutureDAO: token economy and Innovation salon” organized by NEL. FutureDAO brings further developments to the DAICO model, many of which are focused on reducing costs and providing even the smallest projects with a guaranteed market. Traditional ICOs offer a one-time crowdsale with a fixed supply of tokens, the DAICO proposed by FutureDAO functions differently. For more information about FutureDAO, please check NEL’s form.



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