Alchemy Goes Public With Developer Platform in Bid to Grow DeFi Ecosystem

Blockchain infrastructure startup Alchemy, which helps decentralized finance (DeFi) projects run or access nodes, just launched its full suite of products to the public, after a two-year closed beta serving teams including MakerDAO and Kyber Network. DeFi projects like MakerDAO, 0x and others all use Alchemy’s solutions to access Ethereum blockchain data, rather than run their own nodes.

Alchemy CEO Nikil Viswanathan said more than 70% of top Ethereum applications and more than $2.8 billion worth of assets locked in DeFi rely on Alchemy for access to blockchain data. “We’ve replaced all the infrastructure providers for most of them,” Viswanathan said, referring to “hundreds” of Ethereum startups that pay for Alchemy’s software services.

Timeline of 0x, Ethereum, Kyber-network