Review on Alchemint Standards by David Olayide

Name: Alchemint Standards
Item: Alchemint Standards
Rating: 3

June 03, 2021

Alchemint Standards

Alchemint is a stablecoin issuing distribution platform based on a hybrid model. Alchemint runs on the NEO blockchain and aims to actually create a decentralized, open and transparent stablecoin issuance system. By making use of very innovative technology, Alchemint is able to create a high-performance application-level encrypted digital currency and carries out a series of activities such as the mortgage of digital assets through smart contracts, the issuance of stablecoins including the management of collateral risk. 

In case you’re beginning to wonder who is in charge of the project, then just know that it is not controlled by any body or distinct individual. There is no need for an audit at all. There’s also no need for disclosure of reserve assets. Anyone can view the real-time market value of the project at any time.

When researching the project, I also discovered that because the project utilizes smart contracts, there is virtually no need for users to worry themselves over matters such as the running of the Alchemint platform or even fear the failure of execution and the freezing of asset accounts, as well as other issues. The smart contracts guarantee that all collateral cannot be misappropriated. 
Alchemint as well also has a means or method of managing volatility to avoid any sort of crises on the project.

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Pros