Alchemint has integrated a one-click return feature for users to return SDUSD and withdraw NEO from its smart asset reserve (SAR) contracts. Alchemint cites the new feature as a Q1 goal from its recently updated roadmap, which sought to optimize platform performance and the user experience of interacting with the Neo blockchain.
Alchemint’s SAR contracts allow users to mint SDUSD stablecoins by mortgaging digital assets. To mint SDUSD tokens, the user creates a SAR and sends a corresponding amount of NEO (converted to the NEP-5 SNEO) determined by the mortgage rate. The SDUSD can then be returned to the SAR along with a fee paid in SDS to reclaim the mortgaged NEO.
Alchemint’s one-click return feature automates various steps in this process so the user is required to do less when converting SDUSD back to NEO. If the user doesn’t have the necessary SDS to cover the SDUSD return fee, the one-click return automatically deposits SDS from the users wallet into the SAR. If there is excess SDS in the SAR after the conversion, the one-click return process will withdraw the funds.
Further, Alchemint purports the integration of one-click support minimizes the number of times a user must convert SNEO to NEO. However, that process must still be enacted manually by the user.
Looking forward, the team intends to develop a mobile app with a tentative Q2 2020 release.
The full announcement can be found at the link below:
https://medium.com/@AlchemintIO/one-click-return-is-now-available-af21a5ac6257
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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