Singapore-based stablecoin project, Alchemint, has announced exchange listings for its NEP-5 utility token, the Alchemint SDT (Special Drawing Token). The SDT token itself is not a stablecoin, but will be required to issue and redeem fiat-pegged tokens on the Alchemint platform.
Switcheo has confirmed that SDT/NEO, SDT/GAS, and SDT/SWTH trading will begin on July 27th at 11am SGT (UTC+8) on its decentralized exchange.
SDT was also recently listed on the CoinMex exchange in a SDT/ETH trading pair, and on the Bitforex exchange in SDT/ETH and SDT/USDT pairs.
However, in regards to the CoinMex and Bitforex listings, Alchemint community manager Stephen Hu noted on Telegram “As the trading started we noticed huge sell order of a far lower price than the ICO price.” He offered an apology to investors, claimed that there are no presale, airdropped, or team tokens in circulation, and theorized that 600,000 SDT in listing fees given to BitForex and 200,000 SDT given to CoinMex were immediately sold by the exchanges themselves.
The Alchemint team also achieved a milestone by releasing version 1.0 of its white paper. The latest version, titled “A Hybrid Model Stablecoins Issuing Platform”, contains updates to the roadmap, commercial distribution model, and team sections.
Finally, Alchemint has updated its website which is now available in English and Chinese languages.
More information on the Alchemint project can be found in the links below.