---
title: "Alchemix USD (ALUSD) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/alusd-alchemix/"
description: "Build-time stablecoin profile for Alchemix USD (ALUSD). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-06-03"
---



# Alchemix USD (ALUSD)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

alUSD is Alchemix's self-repaying {{term:cdp}}CDP{{/term}} stablecoin: deposit DAI, USDC, or USDT into Yearn and Aave yield strategies, borrow up to roughly 50% against it, and let the yield slowly erase your debt with no interest and no {{term:liquidation}}liquidation{{/term}} risk. The mechanism remains DeFi's most patient financial product, and the Transmuter still backstops 1:1 {{term:redemption}}redemption{{/term}} on a queue that settles over days. But the elegance has a price the report card now spells out plainly: an overall F, a peg that grades D and an active depeg in progress, because self-repaying loans strip out the debt-repayment urgency that normally generates buying pressure to defend the peg. The peg has logged over a thousand brief deviations across its history and rarely sits comfortably at the calm end of the stress scale, so holders are effectively trading away peg discipline for the no-liquidation guarantee. Liquidity is the other casualty, grading F as exit routes have thinned, and only the structurally sturdy parts of the design hold up: resilience earns a B+ on its battle-tested architecture and dependency a B-, which together make this a stress-prone instrument that only makes sense if you value never being liquidated above all else.

## Collateral

DAI, USDC, and USDT deposited into yield strategies (Yearn, Aave) via Alchemix CDPs; yield automatically repays debt

## Peg Mechanism

Self-repaying loans: yield from deposited stablecoin collateral automatically repays debt; Transmuter guarantees 1:1 redemption

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0xbc6da0fe9ad5f3b0d58160288917aa56653660e9` | 18 |
| arbitrum | `0xcb8fa9a76b8e203d8c3797bf438d8fb81ea3326a` | 18 |
| optimism | `0xcb8fa9a76b8e203d8c3797bf438d8fb81ea3326a` | 18 |
| fantom | `0xb67fa6defce4042070eb1ae1511dcd6dcc6a532e` | 18 |
| metis | `0x303241e2b3b4aed0bb0f8623e7442368fed8faf3` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/alusd-alchemix.