Apr 17, 2020
Alchemint Monthly Progress Report (March 2020)
Alchemint Platform 2020 Q1 Update
At the end of March, we quietly launched the 2020 Q1 update on our stablecoin issuance platform. After a few weeks of stable operation, we made the announcement a few days ago.
This update includes:
- Add Guideline
- Add One-Click Return
- Optimized progress bar
We also made changes to lower the occurrence rate for SNEO convert back to NEO issue.
For details, please read the following article
Alchemint Stablecoin Issuance Platform Status
On March 12, the cryptocurrency market experienced a rare flash crash, and Bitcoin decreased by nearly 50% in one day. NEO, which is used by our platform to issue stable coins, has also experienced such a large decline.
The good news is that during the crash, the stablecoin issuance platform ’s Overall Mortgage Rate has always remained above 150%, indicating that even when the market is at its lowest, each SDUSD maintains at least 1.5 US dollars of assets behind it as support.
During and after the price drop, the platform activity reached the highest level in history, some users perform return operations to prevent liquidation, and some users frequently participated in liquidation in order to obtain the profit of liquidation.
After the market crash, the total issuance of SDUSD decrease a lot, but the total amount of SNEO mortgages did not significantly decreased. Because liquidation does not need to consume SDS, the Total Service Fee Paid (SDS) has only increased by nearly 10% this month, and the mortgage rate has returned to 230% after the market stabilized.
Risk Warning article
During the middle of March, the cryptocurrencies market had a flash crash BTC dropped almost 50% in 24 hours, the SDUSD backing asset NEO also made a sharp drop. We wrote the warning article to remind users to modify the Mortage Rate.
Conduct the Roadmap Giveaway
During the Alchemint 2020 Roadmap release, we also hold a Retweet Giveaway, we have transferred SDUSD to the lucky winners.
