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What is Alchemy (AFI)?

Alchemy is a blockchain-based peer-to-peer (P2P) lending marketplace that allows for instant and direct lending between supply-side lenders and demand-side borrowers from all over the world in a trusted manner utilizing the advantages of smart contracts and blockchain technology.

The company offers a unique architecture to analyze and structure a credit risk-adjusted rate with the utilization of Artificial Intelligence (AI) and Machine Learning (ML) technologies.

This way, the company aims to become the first P2P lending platform that utilizes blockchain technology to reduce high credit risk and high default rate, while simultaneously providing a risk-adjusted downside protection for capital commitment lenders. Furthermore, as Alchemy P2P credit products continue to grow and its network expands, the company aims to become the leading source of personal loan providers for individuals around the world.

Partnerships

The company has so far made quite a list of partnerships, including with:

ICO Results, Info, News

The ICO took place from August 27, 2018, till September 10, 2018, raising a total of $46,620,000 USD. The blockchain is Ethereum based, with ERC-20 tokens.

During the ICO, the AFI tokens were sold at the price of 0.000952 ETH ($0.476 USD).

They are not yet trading on any of the exchanges and plan to begin in Q1 2019.

Community Around It:

  • Facebook: 10,627 followers;
  • Telegram: 4,647 members;
  • Twitter: 65 followers.

The team behind Alchemy Coin is active on their social media channels, as well as their Medium blog. Here are just a couple of the highlights:

Team

The team behind Alchemy Coin includes CEO Justin Jung, COO James Fan, CSO JT Bell, and more.

You can look up the rest of the team and the Alchemy Coin website.

Competitors

Blockchain-based lending is not a new concept and there are many companies who are trying their luck in this new industry. They include SALT Lending and ETHLend, just to name a few.

SALT Lending is an excellent blockchain-based platform that is already up-and-running and is probably light years away in development ahead of Alchemy Coin. You can already get a loan via SALT Lending’s platform and Alchemy could learn a lot from them.

ETHLend is a decentralized P2P lending platform that uses tokens as a collateral and can decide on the details of the loan themselves instead of a bank or regulator. Although they are far from perfect, their business seems much more professional, their token is trading, and they have a live dApp. The same cannot be said for Alchemy.

Verdict

All things considered, Alchemy Coin is an interesting project with a chance to become a disruptive P2P blockchain platform in the lending industry. P2P lending is a large market and the team seems potentially capable enough to pull that through. The website and whitepaper are done very professionally, and the company has already gained quite a few big partners and some media attention.

However, they have come under quite a bit of criticism lately (which they haven’t taken lightly) and this could be founded in reality. Namely, the company’s social media channels are painfully lacking any word from their followers, containing only announcements from the team (which are very good in all honesty).

Moreover, the company seems to have run into some quite big hurdles as their website states the ICO sale had ended in early September 2018, but the AFI token hasn’t even been listed on any of the exchanges yet, which is a huge red flag. The company claims that this is due to the lack of clarity on security tokens, ETFs, exchanges, and other factors and that they need to clarify this before they bring their coin to market.

Contacts

By Sead Fadilpasic

 

Rating

3.6

PLAN

 2.0/10

TEAM

 5.0/10

MARKETING

 2.0/10

MARKET GROWTH

 7.0/10

COMPETITORS

 2.0/10

Pros

  • A long list of partnerships
  • Quite a big team
  • Has some media attention
  • Professional website and detailed whitepaper

Cons

  • Some bad criticism from some ICO analysts
  • No product yet except for the diagram
  • Not much social activity from supporters
  • Trading hasn’t started yet on any of the exchanges
  • Plenty of competitors