{"id":139220,"date":"2021-09-20T09:29:13","date_gmt":"2021-09-20T09:29:13","guid":{"rendered":"https:\/\/precoinnews.com\/?p=139220"},"modified":"2021-09-20T09:29:13","modified_gmt":"2021-09-20T09:29:13","slug":"alkemi-network-tvl-shoots-to-over-6-4-million-days-after-tge","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/altcoins\/alkemi-network-tvl-shoots-to-over-6-4-million-days-after-tge\/","title":{"rendered":"Alkemi Network TVL Shoots to Over $6.4 Million Days after TGE"},"content":{"rendered":"
Alkemi Network, a platform on Ethereum aiming to link CeFi and DeFi, now locks over $6.4 million coming three days after their Token Generation Event (TGE) on September 16.<\/strong><\/p>\n As per <\/span>data<\/span> on September 19, there are $6.49 million deposited on the protocol and $4.3k worth of assets borrowed for a collateralization ratio of over 150,045 percent.\u00a0<\/span><\/p>\n Ninety-nine percent of deposits are in ETH, while 0.1 percent is in USDC\u2014one of the most trusted stablecoin and the second most liquid after USDT.\u00a0<\/span><\/p>\n The Alkemi Network is a DAO on Ethereum, and holders of ALK ERC-20 utility and governance token can vote on changes, participating in shaping events determining the project’s trajectory.\u00a0<\/span><\/p>\n There are 200 million ALK tokens in total supply, <\/span>according<\/span> to <\/span>Etherscan<\/span><\/i>, with 412 holders who have generated 912 transfers.\u00a0<\/span><\/p>\n However, the team is releasing 100 million ALK tokens as the initial supply. The remainder will be released gradually over four years to a fully diluted valuation.<\/span><\/p>\n The protocol is differentiated, incorporating permissioned– where pools can be created in a controlled, KYC-environment–and trustless open-source operations.\u00a0<\/span><\/p>\n This dual approach integrating centralized and decentralized is per the team’s belief that there is a gradual progression into a world of inclusion.\u00a0<\/span><\/p>\n Therein, there are no barriers, but a flexible state where institutions and retails sharing varying ethos can co-exist, benefiting from DeFi.\u00a0<\/span><\/p>\n In Alkemi Network’s view, DeFi is cross-cutting and global, with the ability to meet the varying needs of institutions and retailers.<\/span><\/p>\n The two pools\u2014Earn Verified and Earn Open\u2014are unified by the ALK governance and utility token.\u00a0<\/span><\/p>\n Expressly, the Earn Verified pool is set for institutions and is permissioned in such a way that it satisfactorily meets the “bank-grade on-boarding and allowlisting process.”\u00a0<\/span><\/p>\n Meanwhile, Earn Open is a mirror copy of Earn Verified only without the allowlisting process, demanding submission of personal and other identifying data.\u00a0<\/span><\/p>\n Both pools, however, share the same incentivizing process with the Liquidity Mining Program distributing ALK rewards to lenders and borrowers.<\/span><\/p>\n<\/span>Alkemi Network Manages $6.49 Million of Value<\/b><\/span><\/h2>\n
<\/span>Why Alkemi Network is Different<\/b><\/span><\/h2>\n
<\/span>Earn Verified and Earn Open Pools<\/b><\/span><\/h2>\n
<\/span>Related posts:<\/span><\/h3>\n