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What is Transmuter (Alchemix)?

Crypto Terms Glossary: What is Transmuter (Alchemix)?

The Transmuter is the Alchemix protocol's primary pegging mechanism, which helps keep synthetic assets, like alUSD, at a 1:1 ratio with stablecoins like DAI. The Transmuter is powered by a smart contract that allows users to stake alUSD in order to earn a proportional amount of DAI for doing so.

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