Alchemint’s SDUSD Stablecoin Issuance Platform Launched on NEO Mainnet
After one year’s development, Alchemint Stablecoin Issuance Platform is launched on NEO mainnet. NEO holder can visit https://NEO.Alchemint.io use Alchemint Stablecoin Issuance Platform to issue stablecoin SDUSD.
SDUSD is over-collateral based stablecoin, and it’s the first stablecoin on NEO blockchain. Users in Alchemint platform can use smart-contract and oracle system to issue stablecoin SDUSD which pegged at 1:1 ratio to USD by over-mortgaging cryptocurrency NEO. SDUSD is a decentralized stablecoin, it won’t have the acceptance problem which centralized stablecoin have.
SDUSD provided a new option for NEO holder, which means people can use the Alchemint platform, mortgage their NEO to issue SDUSD. People can trade SDUSD with other cryptocurrencies or exchange SDUSD for fiat currencies.
When SDUSD issuers want to return SDUSD, they need to pay a fee at 2% annually(calculate in fiat) in SDS as issuing fee, which can be consider as a interest fee for the crypto lending. Compare to the average crypto lending’s 7% or higher interest fee, the Alchemint platform provided a more cost-efficient way for lending.
Also, when NEO price go down, SDUSD holder can liquid other’s SAR with 149% or lower collateral rate, and receive NEO in 90% of the market price.
After delivered the product, Alchemint Foundation will expand more use case for SDUSD, become a key infrastructure to connecting NEO Smart Economy and the real world economy.