Alchemint ICO Review

Summary
Alchemint, a smart contract platform on top of NEO’s blockchain, is designed to offer consumer grade fiat-pegged crypto-currencies leveraging the distributed ledger technology and smart contract and is committed to building up a decentralized, resilient, open and transparent system of price-stable crypto-currency.
Popular digital currencies, such as BTC, ETH and NEO, are unable to become means of payment as a result of their huge price volatility, which to a large extent impedes the current blockchain projects getting down to earth. Alchemint uses smart contract to allow distributed creations of sdusd (a kind of stablecoin dynamically pegged to USD) with the collateralization of various crypto-assets, as backed by a set of mechanism that secures the stability of sdusd’s value.

[Main problems tackled]: Alchemint is not controlled by any individuals or organizations. It does not need audit companies or regular publication of reserved assets. Everyone is able to check real time market value of collateral, the circulation of stable currencies and the overall condition of the system on the public blockchain. Alchemint has a complete set of risk control measures to manage the collateral’s market value so that the fluctuating will not trigger crisis of the whole system. Anyone can issue stablecoin by mortgaging value-fluctuated NEO assets (or any digital assets approved by Alchemint Governance Committee) like sdusd with the exchange rate of 1 on USD (the currency can be euro or RMB). Since the sdusd is created, it can be used to pay like any other cryptocurrency, remit, store of value or top up in digital assets exchange to purchase other fundamental currencies of digital assets.

Website: www.alchemint.io
Token symbol: SDT
Token type: NEP-5 (NEO Platform)
Non-tech whitepaper:
Whitepaper: http://alchemint.io/pdf/Alchemint_WhitePaper_EN_v0.9.2.pdf
Hard cap: 50M USD
Total possible tokens: 1 Billion
Token distribution: 1 ETH = 9500 SDT

Pre-sale and public sale:
30% Community Development Fund: maintains the continuous development and operation of the Alchemint project
20% Public Sale: Used for the platform’s daily activities like marketing, development, and finance, etc
15% Private Investor: Private investors will have influence inside and out of the industry and will be helpful to Alchemint
10% Cornerstone Investor: Cornerstone investors provide essential help and help with a resource for the development and project of the Alchemint project
10% Founding Team Development Team: The founding team assists with the operations of the project, making them an essential resource for the company
10% Commercial Promotion: Setup to maintain strategic support for the project
5% Consultant: Fee for consultants and legal advice

Token distribution
tokens are distributed in batches and have vesting period:
⅓ after 1 month of investment, ⅓ after 3 months of investment, ⅓ after 6 months of investment
Token distribution timeline
after public sale, expected in June/July

Roadmap

2018/06 – Single asset mortgage support, browser wallet console, decentralized exchange cooperation on testnet
2018/09 – Launch on mainnet, app wallet console, $1 million trading debt ceiling of the public test
2018/11 – Alchemint V1.0 launched, the Alchemint committee will determine the relevant risk parameters, SDUSD would be launched on partner exchanges
2019/04 – Alchemint V2.0 launched, multi-asset exchange support, failback Alchemist feature, market forecasting mechanism
2019/10 – The supply of stable coins to exceed $10 billion, a variety of digital goods will be supported, (gold, real estate) and full support from global exchanges
2020/01 – Start refactoring blockchain + finance ecosystem based on stablecoins, such as lending, payment, finance, etc
2020/06 – Alchemint 3.0 finally launched, introducing quantity theory of money to Alchemint stable mechanism
2021/01 – The supply of stablecoins will exceed $100 billion, a large number of stablecoins will exist on the blockchain, stablecoin will be widespread as a means of payment, additional business scenarios

Product stage
product is already being finalized and will be tested soon on testnet after public sale
Token usage

SDT will be an utility token, whenever it is being used, the tokens will be burned after, making the scarcity higher and hence the value of the token increase

Team

Zhang Ting Chief Financial Master, CFA
She has extensive experience in the securities, media and Internet finance industries, and she is a liberal and internet entrepreneur, who has served as investment adviser in investment securities, editor in media finance, p2p Wealth COO, community finance platform CEO. And also, she has extensive experience in the operation and management of Internet financial product innovation, supply chain finance, asset securitization, risk control systems and Internet platforms.

Advisors: Sun Ming Fenbushi Capital Legal Advisor
one of the most popular VC companies in the world, that has Vitalik Buterin (founder Ethereum) part of the company

Chen Yu (Jiangnan, younger cynic) Founder of the Juxiu Capital
Pauline Xu Hayek Capital Founder
NEO Council
Opportunities

Important part is that they will be part of the NEO core eco-system, so they will be automatically be pushed and promoted by the NEO council
They will be used as well on the upcoming new NEX project, Neo Exchange

Concerns
unknown team for us, but since they are backed by the NEO council, it should be fine

road map seems to be a very long term plan, so execution might be slower than we can hope for

Conclusion
This ICO is a no brainer, part of the core NEO eco system, and already fully promoted by Da Hongfei during the last NEO council meetups and presentations, will be part of their core system also for their upcoming NEX exchange.

Flipping potential

For flipping, not very interesting, you have a very long vesting time, and tokens are given out per 3 months in batches.

Long term potential
The potential is amazing, this product is and should be a very profitable token in the long run when everything in the NEO economy is using it, if you believe in NEO you should also in alchemint, since they will become the Tether alternative for the NEO economy.