Alchemix said it sold the investors the protocol's native ALCX tokens at USD 700 per token. Proceeds were transferred to the protocol's founders as compensation for their work. Alchemix noted that as this was the protocol's first capital raise, all work prior to this had been done without compensation.
In order of investment size, the investors were: CMS, Alameda Research, Immutable Capital, Nascent, Protoscale Capital, LedgerPrime, eGirl Capital, Fisher8 Capital, and Orthogonal Capital.
The protocol said the raise allows the founders to commit to full time development and will also be used for audits, contractors, hiring, marketing, and community efforts.
Under terms of the raise, the protocol's founders can't sell any more tokens this year while the funding group are prohibited from selling theirs for three months.
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