Share this article
BTC
$82,114.59
+
0.52%ETH
$1,559.33
-
2.12%USDT
$0.9994
-
0.00%XRP
$2.0093
+
0.31%BNB
$582.27
+
0.91%SOL
$118.24
+
4.26%USDC
$0.9999
-
0.00%DOGE
$0.1582
+
1.25%TRX
$0.2372
-
1.43%ADA
$0.6236
+
0.47%LEO
$9.4034
-
0.09%LINK
$12.50
+
1.14%AVAX
$19.10
+
5.32%HBAR
$0.1719
-
0.82%TON
$2.9268
-
2.53%XLM
$0.2340
+
0.04%SUI
$2.1862
+
1.01%SHIB
$0.0₄1203
+
0.62%OM
$6.3752
-
3.50%BCH
$302.98
+
2.76%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
DeFi Lending Protocol Alchemix Raises $4.9M in Round Led by CMS, Alameda
Alchemix said it sold the investors the protocol's native ALCX tokens at $700 per token.
Decentralized finance (DeFi) lending protocol Alchemix said it completed a $4.9 million funding round led by CMS, Alameda Research and Immutable Capital.
Story continues
Exiting news! The Alchemix team has successfully raised funds with amazing and exciting partners. Read the discord announcement here or in this exceedingly large screenshot.https://t.co/iKov18CZBS pic.twitter.com/fB2REerYmr
— Alchemix (@AlchemixFi) March 13, 2021
- Alchemix said it sold the investors the protocol's native ALCX tokens at $700 per token. Proceeds were transferred to the protocol's founders as compensation for their work. Alchemix noted that because this was the protocol's first round of raising capital, all work prior to it had been done without compensation.
- In order of investment size, the investors were: CMS, Alameda Research, Immutable Capital, Nascent, Protoscale Capital, LedgerPrime, eGirl Capital, Fisher8 Capital, Orthogonal Capital and one individual, whose name was not provided.
- The protocol said the funding round allows the founders to commit to full-time development and will also be used for audits, contractors, hiring, marketing and community efforts.
- Under terms of the raise, the protocol's founders can't sell any more tokens this year, and members of the funding group are prohibited from selling their tokens for three months.
Kevin Reynolds
Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
