Alchemix DAO

Purpose of the DAO

The Alchemix DAO will receive income from the Alchemix protocol. The treasury will pay developers and permanent staff to maintain and expand the protocol. In addition, treasury funds will pay for audits of the protocol and any of its future products.

The Alchemix DAO will fund projects that build on Alchemix or use the Alchemist synthetic tokens in their applications. Reach out to the developers and mods on the community discord if you have an idea for something to build. If the community likes your idea and approves it via a token vote, then you will receive funding.

Alchemix believes in supporting the greater Ethereum community and plans to donate a portion of treasury income to gitcoin grants and other charitable programs.

ALCX token holders can signal a desire to make changes to the protocol via governance voting.

Bug Bounty Program

While the Alchemix team is confident in the security of the smart contracts, it cannot be assumed that there is not an exploitable attack vector or a hidden bug in the protocol. If you have found a vulnerability, please discreetly contact the development team or discord mods. A significant amount of the ALCX supply is reserved to paying bug bounties, and we will pay handsomely to protect the protocol. The Alchemix team have observed many teams being stingy with bug bounty rewards. Those who disclose vulnerabilities will not be shortchanged because protecting users' funds is prioritized above all else.

Alchemix also has an Immunefi program where you can submit bug reports here -

Governance Process

The Alchemix DAO is currently run through a developer multisig with signaling through the Snapshot app. ALCX Tokens give holders governance rights over the direction of the protocol and use of the treasury. Community members may create proposals by following the Community Governance Process.

The Future

After the Alchemix DAO has matured, the development team will propose their vision for full on-chain governance, giving complete control to the community for a number of protocol parameters. The development of the DAO will be an open process. There are multitudes of brilliant and savvy people in the crypto space, and the Alchemix development team takes community feedback seriously. Thus, the community's input may heavily influence the direction and design of the DAO.

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