23 May 2018

Alchemint Releases Their April, 2018 Progress Report

Who Are Alchemint?

 

The name Alchemint is an amalgamation of two main words, the first is “Alchemist” and the second is “Mint”. They intend establishing a simplistic cryptocurrency which will serve as a link between the real world and the crypto-world. With a global outreach, Alchemint intend meeting the demands by the general public for seamless digital financial solution services.

They do this by providing a management system for smart contracts that will be powered and in fact driven by NEO blockchain technology. Users will be able to make use of the Alchemint platform to either receive or send Alchemint Stablecoin. The Alchemint Stablecoin will be limited to FIAT and users can transact with the Stablecoin which includes making transfers or payments. Alchemint Stablecoin is also available for users to buy using FIAT at the different exchanges on ground.

Alchemint enjoys the support of investors from over 50 countries from around the world and fans from a lot more countries globally. The commitment of Alchemint to the continual development of its Stablecoin cannot be overemphasised. It intends ensuring transparency and fairness at all times, in line with the principles of operation in the NEO blockchain community. The April progress report below shows just how far Alchemint has gone in its drive to make the Stablecoin amongst other projects an important part of the lives of users of the platform.


The April Progress Report Of Alchemint


R&D

  1. Development of Smart Contracts

Completion of the Alchemint token’s…

  • converting,
  • mortgaging and
  • publishing functions.

 

These completed functions have also been transfered for testing. Although some technical difficulties were encountered, Alchemint were able to resolve all. One of such issues has to do with the collateral difficulties faced as a result of the peculiar nature of UTXO assets. There was also the issue of GAS ownership particularly when NEO is mortgaged on the Alchemint platform.



The Alchemint Web Wallet

The Alchemint Web Wallet will be designed to integrate a lot of functions. While it is a work in progress, the Alchemint R&D team has accomplished transaction packaging and coded the related libraries.


The Cross-chain Program And PRM System

Alchemint is currently designing the cross-chain program with the intention of allowing the Alchemist platform provide early digital asset/cryptocurrency collateral support for cross-chain. The R&D team of Alchemint is also in the process of developing a much better Price Risk Management or PRM System.

 

The European Tour (Marketing & Operations)

The founder of Alchemint – Ms. Elva Zhang as well as Mr. Jonathan Quali (Leader of Alchemint’s Europe Community) attended the NEO Europe Tour that held from the 14th to the 26th of April, 2018 at Lisbon, Amsterdam, Zurich, Paris and Madrid. During the European Tour, the founder of Alchemint introduced Stablecoin and informed attendees of the present as well as future ambitions of the cryptocurrency.

At the various meetings Alchemint were met with proposals for strategic cooperation by other NEO decentralised applications as well as institutions that are fascinated by what Stablecoin has to offer users in the blockchain community.  


Alchemint Were At The Global Inclusive Blockchain Conference

Mr. Chris Qi the CTO of Alchemint attended the Global Inclusive Blockchain Conference which was held from the 17th to the 18th of April, 2018 in Singapore. It was hosted by the Singapore University of Social Sciences (SUSS) and Mr. Qi was able to share the vision of Alchemint at a panel discussion on “Stablecoin”.


The Stablecoin Airdrop

Alchemint began an airdrop during the NEO Europe Tour as a way of encouraging the public to attend the Tour. There were a total of 163 people that emerged as successful applicants.


Stablecoin Logo And Other Branding Initiatives

 

Alchemint has completed the design of its Stablecoin logo (SDUSD). The Alchemint merchandise comprising of a badge and cultural t-shirt has also been designed and produced. The first stage video that explains the stabilisation mechanism of Alchemint has equally been produced as well as issued.


Human Resource Management

Alchemint has created a management structure which will include the following departments;

  • Business Development Department
  • R&D Department
  • Finance Department
  • HR Department
  • Operating Department

Stablecoin And Business-related Training

Alchemint held a training for every one of its members with the objective of ensuring that they have a better understanding of the Alchemint business as well as the Stablecoin. The Alchemint ICOHR was also established.


Strategic Partnership And Finance


Alchemint and Switcheo have agreed to engage in strategic partnership. The pre-sale of the Alchemint token or SDT was concluded on the 5th of April, 2018. They were able to get investments from over 30 international investors and some of these global investors include;

  • BK FUND
  • JOHNBER
  • CRYPTO PARTNERS CAPITAL
  • BLOCKCHAIN CAPITAL
  • NEO GLOBAL CAPITAL
  • COLLIN STAR
  • HAKEY CAPITAL
  • FENBUSHI CAPITAL
  • LEMNISCAP

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