Alchemint F&Q (March. 2020)

Why did you choose RSK/RBTC for BTC collateralization?

BTC itself is hard to use without a smart-contract functionality to collateralize assets.

Most of the BTC products on the market like WBTC and imBTC are ERC20 tokens mapping BTC on ETH. We chose RBTC due to the fact it is the side-chain of BTC. It shares the calculating power with the most secured blockchain, the BTC-blockchain. That is why we chose RBTC for our BTC collateralization.

Also we can add ERC20 BTC in the future for multi-collateral on our ETH platform.

What is the status of RBTC, ETH platforms?

RBTC and ETH platforms are completed. We need to wait for some circumstances so that we can release it to the public.

How does NEO 3.0 impact Alchemint?

The most impact aspect is user no longer need to convert between NEO and SNEO, user can directly collateralize NEO to issue SDUSD, it will make the user experience much better. It will also allow users to collateralize fractions of NEO.

Is the team looking into collateralizing ONT to issue SDUSD? Would issuing SDUSD on the ONT platform be difficult or easy considering its similarity to NEO?

It’s not too difficult to migrate ONT platform on our current NEO platform, but on ONT there’s no DEX as good as Switcheo, also ONT somehow asked Paxos issue OEP version PAX on their blockchain, we think it’s hard to liquid OEP asset on ONT chain.

What is the status of work on stablecoins pegged to other currencies and assets (such as EUR or Gold)?

It’s easy to develop, but hard to popularize it. The majority of concurrency trading is between US dollar/ stablecoin. EUR and especially Gold is not often used for trading. We think if we develop a EUR or Gold stablecoin, people will treat it like Foreign Exchange Market, which is not bad, but it will require a large amount of this stablecoin or the price won’t be stable.

What is the level of interest from institutions on commercial issuance of stablecoins through SAR-B?

We did business development with institutions on SAR-B, but most of the commercial companies preferred to issued token on ETH since ETH network is more reliable than NEO according to them.

How is progress being made with respect to adding more trading pairs with SDUSD on other platforms?

We are building new connections with some exchanges, also we are looking into some new solution for it. We will updates when we make a decision on this.

What is the size of the Alchemint team currently?

Currently, we are a 14 people team.

How many years of funding does Alchemint have to be able to operate and develop?

More than 3 years.

What are the future plans for Alchemint to improve communication with the community?

We just released our 2020 Roadmap, we will post more Q&A’s and we will communicate more active than last year.