Alchemint recently posted itsĀ bi-monthly update for the first half of December, highlighting development progress and events. The stable coin issuance provider is also preparing to launch onto MainNet in December, which was previously covered by NEO News Today.

Development progress during the reporting period included optimization of the liquidation discount price logic, the addition of more nodes for feeding price, updates to the UX, and more. Alchemint also noted plans to use an off chain program to distribute GAS generated from NEO tokens that are locked away as collateral.

Additionally, the team has been working with Switcheo to “Build the Alchemint stablecoin issuance platform on Switcheo private test ” and to use SDUSD as a quote currency.

Stephen Hu and Harvey Xu – community manager and business manager, respectively – attended the Chain Plus conference organized by The Blockchainer in Seoul, South Korea. Xu also attended a blockchain event in Shanghai, where game producers discussed implementing SDUSD into their games.

Alchemint also sponsored an event where investors, project teams, and cryptocurrency fund managers discussed their trials and tribulations of 2018.

Lastly, Alchemint uploaded its source code to GitHub, found at the link below:

The full report can be found at the below link: