Alchemix (ALCX) is a decentralized finance (DeFi) platform that allows users to create synthetic assets that represent future yield from deposited assets. The platform is built on the Ethereum blockchain and uses smart contracts to automate the process of creating and managing these synthetic assets. Alchemix aims to provide users with a way to access the future yield of their deposited assets without having to wait for the yield to accrue. This allows users to use their deposited assets as collateral for loans or other financial transactions, while still being able to benefit from the future yield.

The Alchemix platform is powered by the ALCX token, which is used to govern the platform and provide liquidity for the synthetic assets. ALCX holders can participate in the governance of the platform by voting on proposals and changes to the platform. The token is also used to incentivize liquidity providers and users of the platform. Alchemix has gained popularity in the DeFi space due to its innovative approach to yield farming and its ability to provide users with access to future yield. The platform has also been praised for its user-friendly interface and its commitment to decentralization.