What is alUSD (Alchemix)?

The synthetic protocol token alUSD is used on the Alchemix decentralized finance (DeFi) lending platform. Alchemix users can deposit DAI in order to mint alUSD — a stablecoin that tokenizes a user's future yield in Yearn.Finance vaults. In doing so, alUSD is the mechanism by which Alchemix offers automatically repaying stablecoin-backed loans.

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