Alchemint, a NEO-based stablecoin issuance platform, has released its progress report covering April’s development and activity. Alchemint’s SDUSD dollar-pegged token is backed by NEO that has been locked in a smart contract as collateral.

Ethereum and Rootstock

Alchemint’s development continues to expand outside the NEO ecosystem as the project continues development on other blockchains. Alchemint’s development for Ethereum has progressed the furthest. According to Alchemint, “The ETH version of Alchemint stablecoin issuance platform has been completed.” Testing is still in progress.

Rootstock, a Bitcoin sidechain that seeks to add Turing-complete smart contract functionality to Bitcoin, is also a development target for Alchemint’s stablecoin platform in 2019. Alchemint’s token smart contract is complete, and its collateralization smart contract remains under development.

Publicity Tour

April also saw Alchemint’s team attend various conferences based around Rootstock, Polkadot, and the concept of decentralized finance. Alchemint commented that “Stablecoin is the key infrastructure of DeFi” (decentralized finance).

Meanwhile, Alchemint’s April usage statistics remain relatively stable, with over 32,000 NEO locked as collateral in order to back over 107,000 issued SDUSD tokens.

Alchemint’s full April progress report may be viewed at the following link: