Decentralized finance (DeFi) lending protocol Alchemix stated it completed a $4.9 million capital raise led by CMS, Alameda Research and Immutable Capital.

Alchemix stated the investors were sold by it the protocol’s indigenous ALCX tokens at $700 per token. Profits had been used in the protocol’s founders as payment due to their work. Alchemix noted that as it was the protocol’s very first money raise, all ongoing work ahead of this was done without payment.

The investors were: CMS, Alameda Research, Immutable Capital, Nascent, Protoscale Capital, LedgerPrime, eGirl Capital, Fisher8 Capital, Orthogonal Capital and another individual, whose title wasn’t supplied in order of investment size.
The protocol said the raise enables the founders to agree to time that is full and also will be used for audits, contractors, hiring, promoting, and community efforts.

The protocol’s founders can’t offer any more tokens in 2010 although the capital team are forbidden from offering theirs for 3 months under terms of the raise.