Alchemix USD
Profil du Stablecoin
Alchemix USD (ALUSD) est un stablecoin algorithmique — son ancrage à USD est maintenu par la mécanique du protocole on-chain plutôt que par des réserves off-chain. Actuellement, 13,7 M $US sont en circulation sur 4 réseaux blockchain. Le mécanisme ajuste l'offre (mint et burn) en fonction des écarts de prix par rapport au peg cible.
À propos de Alchemix USD (ALUSD)
alUSD is a yield-backed synthetic stablecoin powered by the Alchemix protocol.
alUSD is minted by depositing an accepted collateral asset into an Alchemix Vault. The collateral is used to generate yield that pays down the alUSD debt. Any alUSD used to repay the loan to retrieve the collateral is burned.
Activité récente de l'offre
Alchemix USD (ALUSD) supply was unchanged in the last 24 hours, contracted by 4 k $US (-0.03%) over the past week, and contracted by 24 k $US (-0.17%) over the past 30 days.
Steady issuance: supply has held roughly flat (-0.17% over 30 days), consistent with mature stablecoin liquidity dynamics.
Historique de l'Offre
Network distribution
Alchemix USD circulates across 4 blockchain networks. Ethereum hosts the largest share at 75.54%, followed by OP Mainnet at 20.57%. Cross-chain distribution has remained broadly stable over the past 30 days.
| Chaîne | Offre | Part | 24h Δ | 30d Δ |
|---|---|---|---|---|
| Ethereum | 10,4 M $US | 75.54% | +0.01% | +0.49% |
| OP Mainnet | 2,8 M $US | 20.57% | -0.02% | -2.59% |
| Arbitrum | 363,2 k $US | 2.65% | 0.00% | 0.00% |
| Fantom | 169,9 k $US | 1.24% | 0.00% | 0.00% |
Historique de stabilité de l'ancrage
Alchemix USD (ALUSD) relies on protocol-level supply rebalancing rather than direct asset redemption to defend its 1.00 USD peg. The spot price is currently $0.9963 (-0.369% deviation). Algorithmic designs carry materially higher peg-failure risk than reserve-backed stablecoins — the May 2022 Terra/UST collapse remains the canonical reference case.
Comment les stablecoins algorithmic défendent leur ancrage
Algorithmic stablecoins attempt to balance supply and demand through protocol-level mint/burn incentives — typically against a paired governance or seigniorage token. When the price drops below $1.00, the protocol burns supply (often by letting holders swap into a discounted asset); when it rises above $1.00, the protocol mints new tokens. This design only holds when the paired asset retains independent demand. If the market loses faith in the paired asset, the feedback loop reverses and produces a hyperinflationary "death spiral" — the failure mode that wiped out roughly $60B in the Terra/UST collapse.
Implications pratiques pour les détenteurs
- Peg-failure tail risk is materially higher than reserve-backed designs. Position sizing should reflect this — algorithmic stablecoins are not a "cash equivalent" for risk-management purposes.
- Read the latest collateralisation ratio carefully: many "algorithmic" stablecoins have since migrated to partial or full collateralisation. The label can lag the actual mechanism.
- Reflexive feedback loops mean small redemption pressure can cascade. Exit liquidity should be assessed during normal conditions, not after stress begins.
- Mantapex tracks peg deviation in real time from DeFiLlama price feeds, but for high-value holdings cross-check directly on at least one independent venue (CoinGecko, the issuer's own dashboard, or an on-chain DEX).
Peg-stability commentary is based on the mechanism class (algorithmic) and is provided for educational purposes only — it is not financial advice. Past peg stability is not a guarantee of future performance, and even the highest-quality stablecoins have historically traded outside their target band during banking, regulatory, or liquidity stress.
Adresses de contrat
Alchemix USD (ALUSD) is deployed as a token contract on 1 blockchain network below. Always verify the contract address you're interacting with on the relevant block explorer before sending funds — phishing tokens reusing well-known stablecoin tickers are common, especially on newer chains.
| Chaîne | Adresse du contrat | Vérifier |
|---|---|---|
| Ethereum | 0xbc6da0fe9ad5f3b0d58160288917aa56653660e9 | Explorateur |
Les adresses de contrat proviennent du profil stablecoin de DeFiLlama. Certaines chaînes (Tron, Solana, Aptos, Sui) utilisent des formats d'adresse non EVM. Le lien « Explorateur » ouvre l'explorateur de blocs officiel de la chaîne concernée ; nous ne renvoyons pas vers des explorateurs tiers susceptibles d'afficher des données modifiées.
Comparer Alchemix USD à d'autres stablecoins algorithmic
Below are the largest algorithmic stablecoins tracked on Mantapex alongside Alchemix USD (ALUSD). Comparing supply and chain footprint within the same mechanism class is more meaningful than cross-class comparison, because the underlying peg-defence assumptions are different.
| Stablecoin | Offre | Mécanisme | Chaînes |
|---|---|---|---|
| Frax (FRAX) | 212 M $US | algorithmic | 22 |
| Bean (BEAN) | 33,4 M $US | algorithmic | 1 |
| Neutrino USD (USDN) | 31,1 M $US | algorithmic | 4 |
| SpiceUSD (USDS) | 18 M $US | algorithmic | 4 |
| Mento Dollar (USDm) | 16 M $US | algorithmic | 5 |
Entre les classes de mécanismes
If you're researching ALUSD as part of a broader stablecoin allocation, it's worth comparing it across mechanism classes — each design has different counterparty, custody, and tail-risk profiles.
Stabilité du Peg
Distribution par Chaîne
Ressources et sources de données
Alchemix USD (ALUSD) is tracked across major crypto data providers. The links below open Alchemix USD (ALUSD)'s pages on CoinGecko and DeFiLlama, so you can cross-check supply, market cap, exchange listings and historical price data directly at the source.
Price feed sourced from defillama. Supply, peg and chain-distribution data are aggregated from DeFiLlama's stablecoins dataset, which combines on-chain balances across supported networks. Numbers on this page typically refresh every 10 minutes.
Stablecoins associées
Stablecoins comparable to Alchemix USD by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Autres stablecoins algorithmic
Stablecoins indexés sur USD
Plus grands stablecoins par offre
Avertissement de Risque
Les stablecoins comportent des risques, notamment la dé-peggisation, les changements réglementaires et le risque de contrepartie. Diversifiez toujours et faites vos propres recherches.