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Alchemint Stablecoin Issuance Platform is launched on NEO mainnet

Alchemint (SDS) is a hybrid-model decentralized stablecoin issuing platform based on NEO blockchain. It enables any individual or institution to issue stablecoins by collateralizing assets through smart contracts and cross-chain technology.

On December 26, the project’s team announced that Alchemint Stablecoin Issuance Platform is launched on NEO mainnet. NEO holders can visit https://NEO.Alchemint.io and 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”, – reads the announcement.

SDUSD provides 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.

According to the announcement, 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.

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.