Alchemint, a Singapore-based project developing multiple “stablecoins”, which are cryptocurrency tokens designed to maintain a fixed value, has released a late October development update. This update includes a user manual describing Alchemint’s smart contract-based “Smart Asset Reserve” collateral and liquidation functions. Alchemint will be offering stablecoins backed by the real asset reserves of trusted institutions, as well as stablecoins backed by NEO reserves that remain locked in a smart contract as collateral.
Development Progress
Alchemint reports ongoing bug-fixing and user interface improvements for its stablecoin products. Additionally, its English-language user manual is online. This documentation, currently in beta, describes the process of dollar-pegged SDUSD stablecoin issuance in detail. It includes details about the role of SDS tokens in stablecoin creation, and the incentives for the liquidation of locked reserve assets if the value of the collateral drops below a certain threshold.
Other technical partnerships include an ongoing smart contract audit with Qihoo 360, expected to be complete at the end of November, and a seminar held with the NewEconoLabs team at their offices.
Finally, Alchemint publicized its upcoming products in the Bitkop-sponsored Crypto Expo Asia Seminar, and also introduced its USD-pegged coin SDUSD in a livestream with Tokenclub in Japan. Alchemint claims that the Japanese livestream had more than 50,000 viewers.
The Alchemint progress report covering October 16th to 31th, 2018, can be read in full at the following link:
https://medium.com/@AlchemintIO/16th-31st-oct-progress-report-1c32b489cd4
About The Author: Colin Closser
Colin Closser, M.D., was a speaker at the first NEO DevCon in San Francisco. A devoted contrarian, he has managed the improbable: a peaceful and healthy life, despite holding a medical degree. He aspires towards the wisdom of Michael Lewis and Nassim Nicholas Taleb.
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