What is the use of ALCX coin?

This governance model fosters a sense of community ownership and encourages stakeholders to contribute their ideas and expertise towards the continued growth and improvement of the platform.

ALCX is a unique Ethereum token that serves as the governing force behind Alchemix Finance, a revolutionary protocol in the decentralized finance space. This protocol allows users to tap into a new realm of financial opportunities by enabling them to secure loans backed by collateral.

The innovative aspect of Alchemix Finance lies in its automated repayment system. Rather than relying on manual payments, the protocol utilizes the yield generated by the collateral itself to automatically settle the loan, creating a seamless and efficient borrowing experience.

The introduction of ALCX as the governance token adds another layer of decentralization to the platform. Holders of ALCX can actively participate in shaping the future of Alchemix Finance by proposing and voting on changes to the protocol.

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