Attention builders,

🚀Everything is ready for a launch and there's an opportunity to become one of the first Frontend operators.

📩Contact us and we will share everything you might need.

Brief introduction to Alternity Protocol

What is Alternity?
Alternity is a decentralized protocol built on the Ethereum blockchain, inspired by the design of the Liquity Protocol.
The protocol provide users with a stablecoin that is pegged to the $CNY, achieved by utilizing $ETH as the required collateral.

What is the motivation behind Alternity?
The primary motivation behind the Alternity Protocol is to provide the DeFi ecosystem with a truly decentralized $CNY - pegged financial instrument.

What are the key benefits of Alternity?
– Fully decentralized
– Immutable
– Governance free
– Backed by $ETH only
– Directly redeemable

What are the main use cases of Alternity?
You can use $LCNY as a stablecoin, or you can have ETH-backed debt obligations denominated in Chinese Yuan.

What is $ALTR?
ALTR is the secondary token issued by the Alternity Protocol. It captures the fee revenue that is generated by the system and incentivizes early adopters and Frontend Operators.

You can find more information here.

State backed support puts $CNY on course for best monthly rise since January. Currency increases 1.5% against $USD in July after months of falls.

Source: Financial Times.

As the International Monetary Fund prepares for its next Special Drawing Rights review, experts predict the $CNY influence will grow due to its increased global usage. Currently, the Chinese Yuan holds the third-largest share in the SDR basket, trailing the $USD and $EUR but surpassing the $JPY and $GBP.

Source: China Daily US

Alternity Protocol just launched 🔷🚀

Please welcome the most immutable and decentralised Chinese Yuan – $LCNY.

Deposit $ETH as collateral, mint $LCNY and stake it in the Stability Pool to get $ALTR rewards.

➡️ http://app.alternity.finance

⌛️48 hours since protocol launch:

🔹107 $ETH deposited
🔹697k $LCNY minted
🔹210k $ALTR rewards claimed

A very warm welcome to early supporters of the first immutable $CNY pegged stable.

The first pools are setup on Balancer. These pools are composed of the truly immutable and decentralized assets:

1️⃣ $LCNY : $LUSD : $WETH (link)
2️⃣ $ALTR : $WETH (link)

Liquidity provision to these pools will be rewarded with $ALTR.

The voting for additional rewards on Balancer has started. We are reaching out to $veBAL holders, your votes are highly appreciated 🙏

The pool can become the main source of liquidity for $LCNY as well as additional source for $LUSD and $WETH.

It is going to be the first pool with $ALTR incentives as well.

https://snapshot.org/#/balancer.eth/proposal/0x38168c355733a481b6385b876308ce7adc526daca6f0fa996cfeab374572deff

✅ Our proposal was supported by Balancer community! 🙏

📌Our primary goal is to bootstrap $LCNY liquidity and it's another milestone towards the goal.

Exciting news for our community! We have successfully passed the DeFi Safety review. The detailed 'Process Quality Review' can be found here.