DeFi Lending Protocol Alchemix Raises $4.9M in Round Led by CMS, Alameda

Alchemix said it sold the investors the protocol's native ALCX tokens at $700 per token.

AccessTimeIconMar 14, 2021 at 3:30 p.m. UTC
Updated Sep 14, 2021 at 12:26 p.m. UTC

Decentralized finance (DeFi) lending protocol Alchemix said it completed a $4.9 million funding round led by CMS, Alameda Research and Immutable Capital.

  • Alchemix said it sold the investors the protocol's native ALCX tokens at $700 per token. Proceeds were transferred to the protocol's founders as compensation for their work. Alchemix noted that because this was the protocol's first round of raising capital, all work prior to it had been done without compensation.
  • In order of investment size, the investors were: CMS, Alameda Research, Immutable Capital, Nascent, Protoscale Capital, LedgerPrime, eGirl Capital, Fisher8 Capital, Orthogonal Capital and one individual, whose name was not provided.
  • The protocol said the funding round allows the founders to commit to full-time development and will also be used for audits, contractors, hiring, marketing and community efforts.
  • Under terms of the raise, the protocol's founders can't sell any more tokens this year, and members of the funding group are prohibited from selling their tokens for three months.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about