List ALCX as collateral asset on Ethereum

Summary

This proposal would add ALCX (Alchemix Token) as a collateral asset on CREAM Ethereum.

Motivation

yearn strategists released an ALCX vault at https://ape.tax/fullmetalfarmer
The vault is working fine and we need a long-term strategy in addition to the existing staking strategy to endorse the vault and send it to yearn.finance. The idea is to lend ALCX in cream.

Background

Token: https://etherscan.io/token/0xdbdb4d16eda451d0503b854cf79d55697f90c8df
Website: https://app.alchemix.fi/

For
Add ALCX as a collateral asset on CREAM Ethereum.

Against
Do not add ALCX as a collateral asset on CREAM Ethereum.

8 Likes

How do we get price of ALCX?

Most of the ALCX liquidity is in SushiSwap pool. Looks like I have to get the price directly from that pool, or use Uniquote?

1 Like

Hey, Scoopy Trooples from Alchemix here. We are on uniquote and also our sushi pool is extremely liquid (#7 rank in liquidity). Our project’s stablecoin alUSD would also be an intriguing option to add to CREAM, but since we are a curve factory contract, there is still little to no infrastructure with regards to getting price feeds from it. alUSD’s curve pool is extremely liquid, totaling over 300m TVL, allowing for trades of over 10m alUSD without slippage. I think there are plans to add the crv.finance pools to uniquote, but it isn’t a top priority just yet. Adding ALCX would be a great option in my mind to open up strategies in yearn and to bring additional utility to ALCX holders. I’d greatly appreciate being added as a collateral asset :slight_smile:

6 Likes

great idea, fully support

2 Likes

absolutely agree here, as an ALCX holder would love to be able to lever my ALCX on CREAM

1 Like

Oh yes! This is the feeling you get when your two best friends meet

I’m an ALCX holder and would love to see this listing.

Let’s make it happen people! Synergy