Alchemix Overview
- What is Alchemix?
Alchemix is a decentralized finance platform that allows you to take out loans that repay themselves over time. Users can deposit their cryptocurrency as collateral, borrow a different cryptocurrency against it, and the interest generated on your deposited collateral automatically pays back your loan over time.
- Main Features
- Deposit and borrow different assetsSelf-repaying LoansYield farming vaultsProvides options to manage and mitigate risksEarn interest on collateral
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Frequently asked questions
Alchemix minimizes borrowing risks by offering loans that are automatically repaid through the yield generated from the borrower's deposited funds. These funds are invested in other DeFi protocols to earn yield, which directly pays off the loan, reducing the risk of liquidation due to price drops in collateral.
Yes, you can self-liquidate your own loan on Alchemix. Alchemix states that "You can choose to self-liquidate your own loan at your own discretion." This means that users have the option to repay their loan on their own without the risk of liquidation.
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