TechFlow news — DeFi lending protocol Alchemix has announced its upcoming expansion to Fantom, with potential future deployments on Arbitrum, Optimism, or Polygon. The loan-to-value ratio (LTV) for borrowing alUSD on Fantom will be the same as on the mainnet—50%. Alchemix stated that governance will remain on the Ethereum mainnet. The LTV for borrowing alUSD on Fantom will match the mainnet at 50%.
Additionally, Alchemix will initially partner with AMM protocols BeethovenX, SpookySwap, and SpiritSwap on Fantom, which will help provide incentives. The eight-week incentive program has a total budget of 5,056 gALCX (approximately 5,250 ALCX), with 60% allocated to the alUSD/USDC boosted pool on BeethovenX, 25% to the gALCX/FTM pool on SpookySwap, and the remainder to the gALCX/FETH pool on SpiritSwap.
