Alchemix USD (alUSD) stablecoin analytics
Answer First
What is Alchemix USD (alUSD)?
alUSD is Alchemix's self-repaying CDP stablecoin; V3 uses USDC-denominated MYT collateral, and the Transmuter settles vested alUSD into MYT. The static profile records its US Dollar peg mechanism as: Self-repaying loans and fixed-term transmutation: vested alUSD settles at face value into an equivalent value of MYT collateral, subject to bad-debt haircuts, per-chain deposit caps, and strategy liquidity.
Is alUSD safe?
Pharos does not assess alUSD as safe: it holds an F Safety Score grade (27/100) in the latest published rating, which flags significant structural risk. Static metadata says Alchemix USD uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Alchemix USD (alUSD) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg US Dollar.
AI summary / Updated Sep 7, 2026
alUSD is Alchemix's self-repaying CDP stablecoin: deposit DAI, USDC, or USDT into Yearn and Aave yield strategies, borrow up to roughly 50% against it, and let the yield slowly erase your debt with no interest and no liquidation risk. The mechanism remains DeFi's most patient financial product, and the Transmuter still backstops 1:1 redemption on a queue that settles over days.
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
- Collateral
- USDC-denominated Mix-Yield Token (MYT) vault shares allocated across DAO-selected yield strategies; the V2-to-V3 migration completed in April 2026
- Peg Mechanism
- Self-repaying loans and fixed-term transmutation: vested alUSD settles at face value into an equivalent value of MYT collateral, subject to bad-debt haircuts, per-chain deposit caps, and strategy liquidity. Current documented early-exit fees apply only to unvested alAssets: 1% on Ethereum and Optimism, 2.5% on Arbitrum.
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
Next Actions
Exact bot target: /subscribe dews,depeg,safety alusd-alchemix
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Sep 7, 2026.
alUSD quick answers
What is Alchemix USD (alUSD)?
alUSD is Alchemix's self-repaying CDP stablecoin; V3 uses USDC-denominated MYT collateral, and the Transmuter settles vested alUSD into MYT. The static profile records its US Dollar peg mechanism as: Self-repaying loans and fixed-term transmutation: vested alUSD settles at face value into an equivalent value of MYT collateral, subject to bad-debt haircuts, per-chain deposit caps, and strategy liquidity.
Is alUSD safe?
Pharos does not assess alUSD as safe: it holds an F Safety Score grade (27/100) in the latest published rating, which flags significant structural risk. Static metadata says Alchemix USD uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs alUSD?
Pharos classifies alUSD backing as Crypto-Collateralized. Collateral, per the static profile: USDC-denominated Mix-Yield Token (MYT) vault shares allocated across DAO-selected yield strategies; the V2-to-V3 migration completed in April 2026 Reserve evidence: live reserve feed configured.
Can alUSD be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for alUSD, when applicable, appear in the dossier below.
