Alchemint Monthly Progress Report (July 2020)

3 min readAug 14, 2020

Alchemint Stablecoin Issuance Platform Status

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 2020
July 2020
NEO/USDT July 2020

Research & Develop

Staking & Governance

We are developing a On-Chain Governance system alongside with Staking. According to the plan, Staking will launch first, and the Governance will be released after that. When the governance function is available it will empower SDS holder and Staker to have more power to get involved in the project.

Alchemint platform reserach:

Telegram Chat log from Switcheo

During this month, there was 1–2 day the system could not be used due to the NEO network issue, after the issued had been fixed, we rebooted our services.

DeFi Hype Research:

During this month research of the current DeFi Hype, we noticed only DeFi that is build on ETH is getting attention most DeFi build on other networks don’t receive the same attention.

One good thing we noticed is that people holding NEO more and more want to participate in ETH DeFi this leads to more people using Switcheo Atomic Swap to swap SDUSD to DAI, in this way NEO holder can still participate in ETH DeFi.

Filecoin Hype Research:

Filecoi is the another trending topic for 2020.

On 3rd July we attended “IPFS Ecology Industry Summit” in Hangzhou, during the event we noticed lots team just want to selling miner or hashpower for Filecoin, but mining for FIL have a complex matrix and the stats will only release while the mainnet is almost ready to launch.

For now, we don’t see the necessary for Filecoin network having a stablecoin, and for general public, we don’t recommend you to invest into Filecoin mining, especially cloud mining platform.