Alchemint, a stable coin issuance platform has published its monthly progress report for February.
This month saw an increase in the platform’s overall mortgage rate with higher rates of SNEO and SDUSD being collateralized. SNEO is used as part of its Smart Assets Reserve (SAR) for the mortgaging of digital assets while SDUSD is the platform’s stablecoin.
The SDUSD stablecoin is anchored to collateralized assets (SNEO) to help stabilize the coin against price volatility.
As more SNEO was collateralized in February compared to January, it’s claimed that this will help “keep the price stable even faced with bad market conditions.”
Some pertinent figures from February’s report include an overall mortgage rate of 281.56% and a total SDUSD issued of 105,099.54.
A snapshot of the platform’s monthly stats can be seen here in the original announcement.
Alchemint received a number of changes and improvements to its user interface including support for Ledger wallets. According to the report, users will soon be able to login with their Ledger wallets and access the platform. This feature is due to be rolled out later in March.
Other improvements included a UI facelift for its mobile version as well as integration with the O3 wallet, a popular cryptocurrency app for managing NEO, ONT and NEP-5 assets.
Besides research and development, Alchemint also attended a number of events in February including NEO Devcon 2019 that was held in Seattle. Alchemint’s CTO, Chris Qi presented the topic “Stablecoin, the Infrastructure of Blockchain” at the event.
Chris Qi gave an interview at the event with NEO News Today that can be watched here.
In a separate event held on the 22nd of February, Alchemint’s CEO Elva Zhang attended the “Hug in Bear Market” held by OK GROUP and BBNews. The event reportedly gave the team an opportunity to share their vision of Alchemint with other projects and exchange opinions.
Alchemint also hosted its airdrop campaign titled the “SDUSD Red Envelope” to celebrate the Lunar new year. The airdrop rewarded users in SDUSD for collateralizing NEO on Alchemint’s platform.
The full report can be read at the following link: