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Alchemy Token (ACH), The Core of the Whole Alchemy's Ecosystem

Payment is one of the popular application areas of the blockchain, and many innovative projects have emerged. They can be roughly divided into the following categories: X-border remittance by working with traditional financial institutions: Ripple, Stellar; Wallet issuers: Circle, Bitpay; Providers for daily micropayments: Request, Nano; Cryptocurrency acquiring aggregators: Coingate, Coinpayments, Pundix; Decentralization ecosystem for cryptocurrencies: COTI, Graft; Payment solutions focusing on unique use cases: Pumapay, uTrust.

In order to be widely applied, payment platforms using blockchain technology must exceed the efficiency, comprehensiveness, and levels of quality relative to multibillion-dollar competitors in the areas of practical experience, client use cases, and operational support. With that said, it is difficult for existing blockchain payment products to meet this kind of commercial requirements because of their varied value propositions.

Alchemy Token (ACH), The Core of  the Whole Alchemy's Ecosystem

ACH is the token of the whole Alchemy system. It has a total volume of 10 Billion and no secondary offerings. It is required for a deposit of new merchant access and on-chain governance. Meanwhile, merchants and payers collect ACH token bonus thru paying. Alchemy distributes most of the commission income to ACH holders. ACH holders have the right and should to, take part in on-chain governance activities.

Most of the ACH token will distribute to paying participants, which most of the time are merchants and payers. In this system, each merchant is running a node as it is running a payment terminal. The money transfer is completed by the node and the node will receive a bonus after each successful transaction. The amount of ACH tokens in this bonus is determined by the transaction volume. A node can decide the % of a distribution to payers and themselves.

The Benefit for ACH Token Holders

The most important benefit for ACH holders is to receive income distribution. While 80% of income will distribute to ACH holders and the rest will be kept by Alchemy to cover development and running cost. Alchemy can decide whether to buy back ACH from exchange and burning them or distribute income in BTC and other cryptos, per market observation. Inexact merchant works, ACH is the deposit when merchant accessing. It is required for avoiding illegal payment activities. Merchant will receive refund as it is running a solid node.

ACH uses in governance such as Ecosystem coin anchor: The ACH as an anchor coin for the tokens issued by eco-partner, Protocol fee: Partners who join the ecosystem and use Alchemy the protocol need to pay a certain amount of Protocol usage fee, Real-time payment: Consumers of ACH can enjoy real-time transaction with a low service fee, Escrow deposit: For the sponsored transaction, both parties have to guarantee deposit received, which is priced in ACH, Service fee: Various service fees are priced in ACH, and ACH will anchor external stable coins to simplify the calculation of service fees.

Dispute Arbitration Fee: Those involved in dispute arbitration must have a certain number of ACHs to avoid “no-interest attacks”. The proceeds of the arbitrator are issued in the form of ACH, Lightning Network Mobility Service Provider Node: To meet the fast routing requirements of payment requests for various complex payment models and payment scenarios, Alchemy Lightning Network has certified mobile service providers for relay services. The liquidity service provider node needs to hold the ACH currency, and Incentives: Users and merchants who contribute to share data will be rewarded with ACH; eco-partners, merchants, users who contribute to the ecosystem will be rewarded with ACH too.

Professional Founding Team Behind The Project

As the CEO, Patrick Ngan is a Master of Science, University of Southampton, UK;18 years experience in international business strategy, with deep exposure in corporate finance and capital market; CFO of a HK Main Board-listed company, Regional Head and Managing Director at global investment banks. Here is the founding team behind this project.

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