What is Alchemy Pay?
The Alchemy Pay token, or ACH, is the native token powering Alchemy Pay - a blockchain-based payment platform.
ACH is based on an ERC-20 token standard and is deployed on Ethereum. While it has several use cases, ACH is mainly used to cover transaction fees. It’s important to keep in mind that users who pay with ACH receive discounts on transaction fees.
The Alchemy Pay token also serves as a governance token where ACH holders receive voting rights.
In addition, it serves as an incentive for investors and partners.
There is a max cap of 10,000,000,000 Alchemy Pay tokens. They have been allocated as follows:
- 51% - Transaction Rewards;
- 18% - Team;
- 18% - Backers;
- 6% - Transaction Mobility;
- 5% - Partners;
- 2% - Advisors.
You can have a better look at the ACH price history, or the current Alchemy Pay price, via our tracker above.
What are the Main Features of Alchemy Pay?
As discussed in the What is Alchemy Pay section, Alchemy Pay is a payment solutions provider powered by blockchain technologies. One of the primary goals of this project is to bridge the worlds of cryptocurrency and fiat.
Additionally, it facilitates the integration of crypto into online and offline stores.
It has partnered with well-established companies including Shopify and Binance.
Who Developed Alchemy Pay?
The Alchemy Pay crypto project was launched in 2018. It’s a Singapore-based blockchain company co-founded by entrepreneur Nikil Viswanathan who currently serves as the CEO of Alchemy Pay.
Prior to Alchemy Pay, Nikil Viswanathan worked at major companies such as Microsoft, Google, and Facebook. He has also co-founded a social mobile app called Down to Lunch.
The Alchemy Pay coin was launched in 2020 on Huobi.