Alchemint Monthly Progress Report (October 2020)

2 min readNov 12, 2020

Alchemint Stablecoin Issuance Platform Status

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.

Sept 2020
Oct 2020
NEO/USDT Oct 2020

SDS ERC20 Migration

Now, people can access for the ERC20 migration, once you send your NEP-5 SDS, it will be irreversible. You will receive ERC20 SDS 14 days later and the FLM airdrop within 48 hours.

FLM Airdrop to Alchemint Community

As we mentioned in the last monthly report we will have a FLM airdrop, we have finished the distribution for SDUSD issuer and Alchemint platform users, the token swap FLM rewards are still in progress.

  • For people who issuing SDUSD, the reward will depend on how many SDUSD you issue.
  • Everyone that clicked Start SAR on Alchemint platform is entitled for the user’s rewards.
  • For SDS migration, every 25,000 SDS will reward 1 FLM as a reward.

Community Operation

Shanghai Blockchain Week

At the end of October, it’s Wanxiang Blockchain Week, during that week, countless blockchain events held in Shanghai, Alchemint participate in multiple events and building connections with other projects.

They think we will be back on the right track after migrating to ETH, while developing on NEO platform.