Alchemy

Payment Consensus Protocol

White Paper
 Contents 8.4. Offline Consumption …………………………………………………… 18
8.5. Issuance and Circulation of General Bonus Points ………………… 19
1. Preface ………………………………………………………………………… 3
8.6. Cross-Border E-commerce Escrow Payment ………………………… 20
2. Overview ……………………………………………………………………… 3
8.7. Local currency exchange ……………………………………………… 20
3. Existing Problems …………………………………………………………… 4
9. Roadmap …………………………………………………………………… 21
3.1. The Problems of Existing Electronic Payment ………………………… 4
Contents 3.2. Challenges of Blockchain Payment Platforms ………………………… 6
10. Team ……………………………………………………………………… 22
10.1. Founding Team ………………………………………………………… 22
3.3. Comparison of existing blockchain platforms ………………………… 7
10.2. Technical Team ………………………………………………………… 23
4. VISION ………………………………………………………………………… 8
10.3. Business Team ………………………………………………………… 24
5. Goal …………………………………………………………………………… 8
10.4. Consultants & Investors ……………………………………………… 25
5.1. Decentralization …………………………………………………………… 8
10.5. Research and Development Team ………………………………… 27
5.2. Large-scale Commercial Application …………………………………… 9
11. Alchemy Token …………………………………………………………… 28
5.3. Security and Trust ……………………………………………………… 10
11.1. ACH ……………………………………………………………………… 28
5.4. Sustainable Evolution…………………………………………………… 10
11.2. ACH Nodes and Node Benefit ……………………………………… 28
5.5. Operation with Low Cost and High Efficiency ……………………… 10
11.3. The Use of ACH ………………………………………………………… 29
6. Ecosystem…………………………………………………………………… 11
11.4. ACH Token Rights ……………………………………………………… 33
6.1. Partner and the User End ……………………………………………… 12
11.5. ACH Token Allocation ………………………………………………… 34
6.2. Partner of Merchant Side/Business End……………………………… 12
11.6. Distribution of Funds …………………………………………………… 35
6.3. Partners of the Transaction Service Network ……………………… 13
12. Risk and Disclaimer ……………………………………………………… 36
6.4. Developer Community ………………………………………………… 13
12.1. None Offered…………………………………………………………… 36
7. Product Features ………………………………………………………… 14
12.2. None-Agreement ……………………………………………………… 36
7.1 Smart POS for Cryptocurrency ………………………………………… 14
12.3. Information……………………………………………………………… 36
7.2 Cryptocurrency Payment Gateway …………………………………… 14
12.4. Not Recommended …………………………………………………… 36
7.3 IN-APP Payment SDK …………………………………………………… 14
12.5. Regulation ……………………………………………………………… 36
8. Application Scenarios …………………………………………………… 15
8.1. Transnational Centralized Collection ………………………………… 15
8.2. Sub-Account of Direct-Selling Company …………………………… 16
8.3. Digital Entertainment Industry Payment …………………………… 17
 1. Preface smart contract payment agreements and the incentives for the innovation
capabilities of various payment technology companies, the team aims to
After 50 years of development, the electronic payment network has long activate the human wealth of technical talents, use the agreement to reach
been deviated from the consensus mechanism of industry associations and the consensus of the industry community, and guarantee the transparent
has become a centralized giant. For the protection of their own interests, implementation of rules with technology, so that the cryptocurrency can
01. Preface
the "giants" have adopted various strict and cumbersome rules and become an important part of the real-life transaction soon.
access mechanisms. However, due to the complexity of the organization,
02. Overview Alchemy's strength lies in the team's deep understanding of the payment
the implementation process is very opaque, which breeds bureaucratic
industry and operational experience. The team knows the global payment
inaction and corruption, resulting in low efficiency of payment innovation,
03. Existing technology trend of wallet payment, cross-border acquiring, corporate
complicated payment rate and high risk.
Problems funds collection, collecting solutions for multi-level distribution and other
At the same time, the cryptocurrency ecosystem and the innovation of traditional payment programs. It possesses a favorable network in the tech
04. VISION various industries stimulated by blockchain technology are rising. Based on community in Asian payments.
blockchain technology, the future of cryptocurrency is immeasurable, with
05. Goal a compound annual growth rate of 31%. The total global market value of The Alchemy decentralized payment network features are as
cryptocurrencies is expected to reach $1,806 billion by 2021. If 30% of the follows:
06. Ecosystem market value enters the circulation field, it will exceed the estimated global • Open and scalable Alchemy consensus protocol to establish payment
electronic payment market of $500 billion in 2018. industry norms and promote changes in the payment industry
07. Product
• Use lightning network technology to achieve real-time transaction of
Features
2. Overview existing electronic payments

08. Application The vision of Alchemy GPS Singapore Pte. Ltd. (Alchemy is the brand name
• Offer the most comprehensive support for various cryptocurrency
Scenarios of Alchemy GPS Singapore Pte. Ltd. while ACH is the Token issued by the payments for consumers and businesses to choose
Alchemy, and is used as the abbreviation below.) • Online/Offline one-stop order; seamless integration with mainstream
09. Roadmap is to provide open source protocols and rapid product development Smart POS; fast access to various applications for online SDK/Plugin/
platforms for the ecosystem partners to help them with fast, secure, API
10. Team convenient, flexible and fast-growing global payment solutions, based
on the decentralization, smart contracts and consensus mechanisms from • Decentralized infrastructural network, operation and governance

11. Alchemy blockchain technology. networks, including dispute arbitration, custody, credit scoring, risk

Token control, anti-fraud, clearing, etc., to greatly improve operational

Through the rich experiences of Alchemy and its eco-partners in mobile Efficiency and reduce operating costs

12. Risk and payment applications, the team is confident to lead the payment industry's
• Basic payment functions and solutions for large-scale commercial
Disclaimer technology application in the blockchain era and to use the solutions where
applications:
the traditional payment is popular with merchants. Through decentralized
 • PULLPAY, PUSHPAY; combined payment, subscription payment, Is no trust between the two parties, and the centralized giant does not
Targeted payment; multiple types of account systems provide guarantee services and payment channels

• Visual, simple, standardized smart contract market; lower threshold for • Opaque access rules for merchant/consumer
commercial use of smart contracts
• Serious security and privacy issues
01. Preface
• Self-evolving communities and open ecosystems; attract more
• Long processing of transaction disputes
innovation technology companies to join the community and promote
02. Overview • Cumbersome process of reconciliation, settlement and clearing
the development of the industry's public chain

03. Existing • Perfected localization compliance and anti-money laundering For example, game developers are targeting products in the
Problems programs for different countries and regions Southeast Asian market. They face various risks in payment:
We believe that the payment of cryptocurrency should be more convenient, • Local payment costs are high
04. VISION safer and more secure than the existing mobile wallet payment. For
In Southeast Asia and India, bank card and credit card penetration rate is
merchants, the cryptocurrency should be more comprehensive, safer and
05. Goal low. The local mainstream payment method is the operator's call charge,
more efficient than the current aggregation payment scheme.
prepaid card recharge, etc. The cost of some payment channels is up to
06. Ecosystem 30%-50%. They usually need multiple payment channels to lower the cost.

3. Existing Problems • Difficulties in sending funds back home

07. Product
Features 3.1.The Problems of Existing Electronic Payment The fees charged by the overseas content platform through different
payment channels can only be reached locally. For the funds to go back to
The existing electronic payments are controlled China, it is required to solve the foreign exchange control issue and pay
08. Application
Scenarios B y c e n t r a l i z e d i n d u s t r y g i a n t s , c ausing high taxes.
numerous problems such as complicated and
• Another typical example:
Blurry rules, discretional right, inefficient dispute
09. Roadmap A multinational retailer in the Asia-Pacific region has retail stores and a
Management and high fees, etc.
unified retail management system in Sydney, Hong Kong, Dubai, Bangkok,
10. Team Singapore, and Kuala Lumpur. In order to facilitate unified management,
The traditional electronic payment ecosystem involves too many it is hoped to achieve unified receipt in various regions, but it faces many
11. Alchemy intermediate links and there are many problems. e.g.: issues:
Token
• Cross-border transactions are costly and inefficient
Since the acceptance of credit cards and wallets requires authorization
12. Risk and • Items of expenses from the card organization and the wallet issuer, and these authorizations

Disclaimer are granted by country region and card variety, the retailer owns eight
• A large number of transactions cannot be proceeded because there
service agencies in the Asia Pacific region.
 The service standards, clearing time, rates and surcharges of each service Payment is one of the core functions of currency and the need for crypto in
organization are different, and the adjustment of accounts due to the value transfers is fundamental value of the entire cryptocurrency ecosystem
exchange rate conversion in multi-currency is also different, which brings and the catalyst for technical development in the financial field. Yet, despite
a lot of work to the supplier management, financial management, tax the continuous breakthroughs and recognition of multiple cryptocurrencies in
planning and inventory management of this multinational retail enterprise. their technologies, visions and applications, the current role of payment for
01. Preface
cryptocurrencies remains small in the cryptocurrency ecosystem.

02. Overview
One important reason why cryptocurrency payment has been unable to
Under the existing electronic payment structure, the efficiency of payment
prosper is that compared with the electronic form of legal currency,
03. Existing is low and the overall payment cost is high. The most important thing is:
cryptocurrency has a huge disadvantage in the convenience of payment.
Problems merchants and cardholders have no choice, no right of discourse, no right
Regardless of online or offline payments, when people make daily purchases,
to price-setting or right to access the information on this old ecosystem.
there are usually only fiat payment options. If a person wants to use
04. VISION
cryptocurrency to buy something, both the merchant and consumer need to
The centralized organization that holds power does not focus on the user install cryptocurrency wallets at the same time, which greatly increases the
05. Goal
experience, payment product innovation, merchants and user interests. In barrier for the public to use cryptocurrency payments.
the long run, the traditional payment industry has become stagnant, and it
06. Ecosystem is urgent for it to be replaced by new forces.

07. Product
The decentralization, de-trust, open and transparent, consensus-based,
Features
traceable, and tamper-proof features of the blockchain have brought huge
innovation opportunities to the reform of the payment industry, allowing
08. Application
merchants, consumers and relevant participants in the payment industry
Scenarios
chain to enjoy the benefits of an open, fair and unrestricted low-cost trade.

09. Roadmap

10. Team
Cryptocurrency represents the next phase of currency development. The
emergence of Bitcoin, other blockchains and second layer solutions have
11. Alchemy made it possible to achieve a brand-new electronic cash system entirely
Token through peer-to-peer technology. Many cryptocurrencies and their visions
have led to the continuous improvement of the overall blockchain ecology
12. Risk and and technical capabilities. Increasingly, we are also seeing the trend and
Disclaimer demand for integration with finance growing fiercely.
 3.2. Challenges of Blockchain Payment “multi-level accounts”. Unlike common individual households, multi-level
accounts need to support hierarchical relationships to correspond to group
Platforms
company organizational structure.
Existing blockchain payment platforms have Multi-level accounts need to support “two lines of revenue and
01. Preface obvious deficiencies in their basic payment expenditure” (that is, “receipt account” only allows input, “payment
functions, operational support systems, and account” only allows output), and need to support automatic collection of
02. Overview Blockchain technology infrastructure. sub-account funds to the total account every day. At present, blockchain
is designed for common users and does not provide more complicated
03. Existing Overall, the existing blockchain payment problems can be roughly applications. Traditional payment emphasizes that “the account is the core
Problems of payment”. Without a perfect account system, it is difficult to meet the
classified into following categories:
daily payment needs of enterprises.
04. VISION • Lack of basic payment functions for large-scale commercial • Lack of operational support systems needed by commercial
applications applications
05. Goal
To realize large-scale commercial application, payments must be able to Most current blockchain payment platforms focus on their technical
provide support for some of the following prime functions: application in the payment industry, and rarely consider the construction of
06. Ecosystem
the operational support system necessary for the commercial application
Application Scenario 1:
07. Product of the payment platform.
Features The real business application includes the scenario of payment party's In addition to technical research and development, the operational
active payment (PUSHPAY mode), also includes the scenario where the support system of a payment system is one of the core capabilities. Only
08. Application payee actively initiates the debit request and automatically completes by maintaining low-cost, high-efficiency operational capabilities can the
Scenarios the deduction (PULLPAY mode). The PULLPAY mode scenario is applied platform expand and continue to operate on a large scale. The operational
in many areas such as Uber taxi automatic deduction and public utility support system guarantees the service quality of the platform and is also an
09. Roadmap payment (such as water and electricity coal payment). In the existing important source of various innovations.
blockchain payment project, since consumers hold the private key, the
• Infrastructure issues of blockchain technology
10. Team payment must be initiated by the user. The payment could only proceed
when consumers authorize and proactively initiates a payment request so The existing blockchain technologies have many shortcomings in terms of
11. Alchemy only the PUSHPAY mode is supported. transaction performance, cross-chain payment, and account support.
Token
Application Scenario 2:
12. Risk and
In real business applications, there are complex requirements for the
Disclaimer
payment account system. For example, group chain institutions require
 3.3. Comparison of existing blockchain • Cryptocurrency acquiring aggregators: Coingate, Coinpayments,
Pundix;
platforms
• Decentralization ecosystem for crypto currencies: COTI, Graft;
Payment is one of the popular application areas of the blockchain,
and many innovative projects have emerged. They can be roughly • Payment solutions focusing on unique use cases: Pumapay, uTrust
01. Preface
divided into the following categories:
In order to be widely applied, payment platforms using blockchain
02. Overview • X-border remittance by working with traditional financial institutions: technology must exceed the efficiency, comprehensiveness and levels of
Ripple, Stellar; quality relative to multibillion dollar competitors in the areas of practical
03. Existing experience, client use cases, and operational support. With that said, it
• Wallet issuers: Circle, Bitpay;
Problems is difficult for existing blockchain payment products to meet this kind of
• Providers for daily micropayments: Request, Nano; commercial requirement because of their varied value propositions.
04. VISION
Alchemy Graft/ COTI Pumapay Circle/Bitpay Ripple/Stellar Request/Nano Coingate/Coinpayments

Financial
05. Goal Target Acquirers Merchants Merchants Consumers
Institutions
Merchants/Consumers Merchants
Positioning
Payment Protocol Merchant
Core Product Subscription Payment Wallet Remittance Micro Payment Merchant Acquiring
Smart Contract marketplace Acquiring
06. Ecosystem
Support multiple cryptocurrencies

07. Product Multi-level account support

Features Basic
Active payment
(withholding mode) support for merchants
Functions
Combined payment, conditional payment,
08. Application escrow payment, etc.

Scenarios Peer-to-peer payment

Escrow
09. Roadmap
Dispute Mediation
Operational
Support
10. Team Credit Score

Security Fund

11. Alchemy Risk Management and Anti-fraud

Token Technology
Foundation
Cross-chain Payment

Smart POS Integration

12. Risk and
Alchemy vs Existing Blockchain Payment Platforms
Disclaimer We focus on providing payment protocols and open source development platforms that enable payment companies to adopt it with faster and cheaper service.
 4. VISION decentralization:

Alchemy envisions that backed by decentralization, smart contracts and • Decentralization of currencies

consensus mechanism of blockchain, Alchemy would enable payment

One of the most fundamental problems of traditional payment networks
industry players to embrace the new era of payment technology by fully
01. Preface is that legal FIAT currencies are the exclusive options for transactions.
utilizing a series of open source protocols and open R&D platform to
This then helps centralized institutions retain power over the clearing and
improve the efficiency of cross-border payments; to provide merchants and
02. Overview settlement processes.
customers with a faster, more secure, more convenient, and more flexible
global payment solution. As a decentralized open ecosystem, the Alchemy payment network
03. Existing provides access to various assets that can be liquidated, including but not
Problems limited to various cryptocurrencies, tokens, credit payments and points of

04. VISION 5. Goal credit service providers, various forms of digital assets, and fiat currencies;
ultimately helping to open up options for transactions and not limit them to
The Goal of Alchemy is to design the payment protocol through community
one single form of currency. We believe users and merchants have the right
05. Goal consensus, to build a decentralized, trust powered infrastructure, to
to choose which currency to use for payment and settlements.
expedite the penetration of cryptocurrency into our daily life; and most
06. Ecosystem importantly to return the rights of payment to the merchants, the customer • Decentralization of Technical Infrastructure
and the market.
07. Product The product architecture of Alchemy is composed of five layers: the access

Features 5.1.Decentralization layer, the solution layer, the product layer, core layer, and the blockchain
network layer. Each of them acts in accordance with the innate principles of
Alchemy achieves the decentralization of payment decentralization. Each layer is also defined through an open ACH payment
08. Application
Networks by integrating with decentralizing consensus protocol to ensure consistency with decentralized applications.
Scenarios
Cryptocurrency wallets, deploying decentralized
• Decentralization of Operational Mechanism
Technical structures, along with relevant operation
09. Roadmap
And governance mechanisms. Based on a Service Level Agreement, Alchemy has standardized and
10. Team categorized the daily tasks with a grading system. For example, merchant
With the frictions and pains working with traditional centralized payment onboarding process, reconciliation, and settlement are facilitated through
networks such as Visa, Mastercard, UnionPay and other switching network, the automated and transparent execution of smart contracts; decentralized
11. Alchemy
Token Alchemy payment network adheres to the concept of “decentralization” dispute settlement, decentralized exchange, and decentralized automated
from payment currency, technical architecture, operation system and clearing houses are all applied to crowd-source the operational tasks to
governance mechanism for our visions and goals. our ecosystem partners. By ensuring quality and efficiency with these
12. Risk and
Disclaimer operations, every player can expand fast at a more affordable cost by
We’ve applied the following technology and measures to achieve working together.
 5.2. Large-scale Commercial Application In respect of merchants, the payment model can be divided into: PUSHPAY
model with the payer as the payment initiator and PULLPAY model with the
Alchemy meets the needs of large-scale commercial payee as the initiator;
application by supporting complex account
In respect of a security model, the payment model can be divided into
infrastructure, complex PUSHPAY and PULLPAY
01. Preface escrow transactions and standard transactions;
Payment models, complex transaction types and
More reasonable business flow for payment services. The payment model can also be divided into single payment and batch
02. Overview
payment;

Modern businesses have many requirements for electronic payment In respect of the type of payment, it can be divided into cryptocurrency
03. Existing
providers but have to subject to all the friction we discussed earlier. Their payment, credit payment, and bonus point payment;
Problems
collective needs continue to be left unresolved in any way. If these market
In respect of the corporate payment case, it can be divided into restricted
demands cannot be met, or if the pain points cannot be addressed, then
04. VISION batch payment (salary payment), capital consolidation, fund appropriation,
using cryptocurrencies as one of the mainstream forms of payment will not
and supply chain factoring.
be realized.
05. Goal
• Support for complex transactions
The core demands to help achieve this ultimate vision of mass
06. Ecosystem
adoption are: Transaction types in real world business are not confined to a simple model
between users and merchants. Complex transaction types are also included
07. Product • Support for complex account infrastructure
such as combination payments, subscription payments, batch collection/
Features
In addition to personal accounts, the commercial business also supports payments, restricted payments, secured payments, document splitting,
complex account types such as hierarchy accounts, escrow accounts, credit transfers, and corporate payments.
08. Application
accounts, joint accounts, and high-frequency hotspot accounts.
Scenarios • More reasonable support for payment service flow
For example, many companies and enterprises have special needs for
Traditional electronic payment is greatly restricted by the various rules,
09. Roadmap hierarchy of accounts, "payment-collection parallel" model, and payment
consolidation accounts. regulations, and interface limitations of centralized payment institutions,
which lead to the problems of business flow and capital flow, such as the
10. Team
• Support for complex payment models various problems in cross-border receipts.

11. Alchemy Real payment cases include C2C (Customer-to-Customer), C2B (Customer- Through Alchemy's payment network construction, the payment process
Token to-Business) and B2B (Business-to-Business). Different business models can better meet the needs of business processes and helps with business

have corresponding payment models. innovation.

12. Risk and • Smart contracts need to become easier to use and meet the
For example:
Disclaimer requirements of commercial scalability
 Alchemy employs a large number of smart contracts to automate capability by adhering to rules developed through community consensus.
payments. However, the deployment and application of smart contracts
The common rules of the platform are guaranteed by governance
must rely entirely on professional engineers. It can also be argued that
mechanisms and consensus mechanisms. As for innovation, the
smart contracts are still toys for “techy”. By providing visual friendly tools to
development of electronic payment systems over the past few decades
template smart contracts, Alchemy will allow non-technical users to freely
01. Preface have fully demonstrated that as long as the power is granted to the
edit, create combination of smart contracts to adapt to their needs. At the
innovators who are closer to the market, unlimited creativity will come
same time, DAPP developers can launch various innovative smart contract
02. Overview along.
applications in our smart contract app store for a fee.
In terms of governance mechanisms, Alchemy adopts a completely open
03. Existing
Problems
5.3.Security and Trust ecosystem, enabling participants to focus on what they are good at.
Appropriate incentive mechanisms are applied to achieve maximum profit
Alchemy is building a trust-driven ecosystem through and to stimulate innovation through the market.
04. VISION credit scoring architecture to address payment
Security issues. 5.5. Operation with Low Cost and High
05. Goal
Efficiency
Various security issues, including fraud, malicious user attacks, phishing
06. Ecosystem sites, and privacy exploitation, exist in the world of both online and offline Alchemy achieves low-costs and high efficiency
payment. Therefore, creating a secure payment environment is the top Through the decentralized operational support
07. Product priority for our solution. infrastructure.
Features
The Alchemy ecosystem is trust-driven. To achieve this vison, we Operating a payment network involves a large amount of work. This
08. Application includes merchant onboarding, merchant integration IT support,
will take the following measures:
Scenarios customized demand for merchants, dispute resolution, clearing and
• Trust-driven ecosystem; merchant’s credit deposit; security fund; settlements, customer service, risk management, and anti-fraud. The
09. Roadmap Privacy protection; credit scoring; decentralized risk management and network cannot reach a scale if we cannot provide high efficiency with
anti-fraud lower cost.
10. Team
Alchemy fully exploits the power of blockchain smart contracts, focuses on
5.4.Sustainable Evolution smart contracts, promotes the decentralization and intelligent construction
11. Alchemy
Alchemy is an open ecosystem that allows of the operating system, and relies on the decentralized operational
Token
sustainable evolution. support system to inspire eco-partners to participate in the Alchemy
payment network with economic incentives, thus realizing the goal of low-
12. Risk and
As a basic network for payment, sustainable evolution of the platform is cost and high efficiency.
Disclaimer
vital for Alchemy. To achieve this, the key lies in our continuous innovative
 6. Ecosystem Alchemy Ecosystem
Alchemy ecosystem is composed of partners at the users’ end, partners at the
merchant side/business end, partners of transaction service networks, and our
developer community.

01. Preface

02. Overview
Vendor of Smart POS
03. Existing Card Issuer
Merchant/Business Payment
Problems High Trac APP Merchant-/ Gateway Provider
User-end APP Business-end Merchant/Business Provider
High Trac Websites APP
Super Node
04. VISION Financial Software/ Store/
Developer of digital wallet Invoicing Software Provider
Solution Provider
05. Goal Decentralized Operation

Decentralized Decentralized
06. Ecosystem Credit Scoring Hosting

Super Node Super Node

07. Product Risk and

Paym ent Protocol
Features Compliance

ALCHEMY DAO

08. Application Digital Currency Issuer

Scenarios Credit Payment Service Provider

Payment Protocol
Super Node
Digital Asset Vendor
Transaction Developer Web/APP
09. Roadmap Exchange Service Network Community DAPP
Liquidity Provider Financial Software/ Store/
10. Team StableCoin Service Provider Invoicing Software Provider
Marketing APP

11. Alchemy
Alchemy Ecosystem
Token

12. Risk and

Disclaimer
 6.1. Partner and the User End 6.2. Partner of Merchant Side/Business End

Responsibility in the Responsibility in the

Stakeholders Requirements & Interest Product Form Stakeholders Requirements & Interest Product Form
Ecosystem ecosystem

01. Preface • Hold various cryptocurrencies;

Wallet at the merchant
require attractive consumption Integrate Alchemy
Smart POS Smart POS integration side;
scenes;
02. Overview manufacturer
payment solution with
with Alchemy solutions Lightening Network+NFC
• Can overdraw as a credit card; smart POS
payment solution;
User wallet;
03. Existing • Safe consumption and avoid
Virtual card solution
malicious merchant fraud; Online Purchase; In-app payment;
Problems User
• Control the consumption data Offline Purchase; Online payment
Expand merchants in
and avoid privacy leakage;
04. VISION tokenization data income Merchants/
their respective regions
They have merchant base and provide them
• Can exchange mobile credit, corporate and charge service fees with ACHPAY payment
Sales toolkit
05. Goal with universal usage of service by providing payment network solutions
points obtained from various provider solutions including cryptocurrency
merchants receipts, universal points,
06. Ecosystem corporate payments

User wallet integration User wallet;

07. Product E-wallet They have user base and need to
with Alchemy payment Digital identity Customized development
developer provide more usages for wallets Payment Current payment
Features solution; APP gateway solutions integration with
of payment gateways SDK.Plugin.API.gateway
for various industries sidechain (may issue their
service cryptocurrency related
and regions; merchant own tokens)
provider payment solutions
08. Application 1、Apply for Visa/
technical access support

Scenarios Bank cards and virtual cards MasterCard, etc

issuers and able to utilize the
2、apple pay and
Issuers acquiring network of influential Virtual Card Integrate competitive
09. Roadmap card association such as Visa,
google pay integration
Software payment solutions in
Software integration
with Alchemy payment SDK.Plugin.API.gateway.
MasterCard, Union Pay 3 Integration with developer their software (multi-level
solutions
、 POS
smart account fund collection)
10. Team

11. Alchemy Website/APP

They have C end consumer base Payment SDK/ Integrate competitive Cooperate with Alchemy
Token High Traffic
and need to provide a secure, fast
integration with
Plugin/API/
Industry
industry payment and ecosystem partners
Industry solutions
Website/APP Alchemy payment solution sidechains (may issue
and low-cost payment for users; Gateway solutions into their in customizing industry
solution provider their own tokens)
solutions solutions
12. Risk and
Disclaimer
 6.3. Partners of the Transaction Service Network 6.4. Developer Community
Requirement & Responsibility in the Developers are a vital part of innovating Alchemy ecosystem.
Stakeholders Product Form
Interests ecosystem Building a developer-friendly community is the core task of
Alchemy. The participants of Alchemy developer community
01. Preface The cryptocurrency
Integrate with Alchemy

Cryptocurrency Issuers issued needs to have a

payment network to Payment channel include:
improve payment gateway
consumption scenario
02. Overview efficiency
• Payment consensus protocol developer: participating in the
Development of interfaces, service and product related to Alchemy
03. Existing Credits are granted to
Consensus protocols;
users and merchants, and
Problems Record user's credit the credit line is used on
Credit payment service Credit payment • Application developers: participating in the development of Alchemy
score and create more the Alchemy payment
providers gateways
consumer scenes network. The risk of bad ecosystem-related apps and services;
04. VISION debts is borne by credit
service provider. • DAPP developers: participating in the development of various DAPP
05. Goal In the Alchemy ecosystem;
Issued cryptocurrency Member marketing developers: participating in the development of
Integrate with Alchemy Cryptographic •
06. Ecosystem Cryptocurrency assets assets require
payment network to currency asset Member loyalty management, member marketing
issuers circulation or
achieve asset circulation channel gateway;
consumption scenarios
07. Product
Features
Provide cryptocurrency,
More cryptocurrency legal currency exchange Exchange channel
Exchange
08. Application transactions and cryptocurrency gateway
Scenarios transactions;

09. Roadmap Stable Coin service

Stable coins need
Provide clear settlement Stable coin channel
more application
provider currency for ACH gateway
scenarios
10. Team

11. Alchemy Provide cryptocurrency

Holding legal currency, liquidity;
Alchemy node;
Liquidity service Credit payment
Token provider
cryptocurrency to
liquidity; lightening
maximize revenue Provide legal currency
liquidity; network node
12. Risk and
Disclaimer
 7. Product Features •
•
PUSHPAY Users Scan Merchants + PULLPAY
NFC Lightning Network Payments
It provides online and offline merchants and consumers (users) with a • Cryptocurrency Prepaid Card
variety of payment and settlement modes in both fiat currencies wallet and

01. Preface cryptocurrencies, as well as industry solutions. 7.2 Cryptocurrency Payment Gateway
Alchemy Payment provides a hybrid payment integrated with both • Online and Offline Access Schemes including SDK/Plugin/API/
02. Overview cryptocurrency and fiat currency. Different product forms can be selected Gateway
according to different situations to meet the needs in various scenarios. • Supporting Lightning Network Express Payments
03. Existing It provides a data statistics system for all products, you can view historical • With PULLPAY+PUSHPAY lightning network, PULLPAY supports pre-
Problems transactions, payment reviews and other data. authorization

7.1 Smart POS for Cryptocurrency 7.3 IN-APP Payment SDK

04. VISION
• Cryptocurrency and Fiat Currency Acceptance It provides partners with a Lightning-network-based IN-APP payment SDK,
embedded in the partners’ APP, achieving IN-APP Lightning payment.
05. Goal • Lightning Network Express Payments

06. Ecosystem

07. Product
Features

08. Application
Scenarios

09. Roadmap

10. Team

11. Alchemy
Token

12. Risk and

Disclaimer
 8. Application Scenarios Example

If a company has subsidiaries in multiple countries in Asia, which are

managed by regional headquarters, then the assets of these subsidiaries
8.1. Transnational Centralized Collection need to be regularly and automatically aggregated to upper level
01. Preface headquarters.

Management Architecture
02. Overview The Alchemy payment network solution for the payment scenario
of transnational centralized collection is:
03. Existing Corporate

Problems • To facilitate this need, the transnational company opens Alchemy

Hierarchy of accounts. The accounts are then set according to the
04. VISION Asia Pacific Headquarter Asia Pacific Headquarter company’s hierarchical architecture. Account of each level support
sub accounts of various types (which are set according to the need of
05. Goal Accounting subjects),for example to support the "payment-collection
parallel" model (which is commonly used in financial management of
06. Ecosystem apan Branch Philippines Branch Britain Branch France Branch
a group) then separate accounts for collection and payment can be set
Up for companies at each level.
07. Product
• Hierarchy of accounts supports hierarchical authorization management
Features
models through which managers of the higher-level accounts
Acquiring Architecture
Could then set permissions for managers of lower-level accounts.
08. Application
For example, account permissions are limited to collection instead
Scenarios
Cash collection General Cash collection Of payment, or to conducting restricted payments for designated
Account
accounts.
09. Roadmap
• When accounts at all levels of Hierarchy of accounts activate proactive
General Account of Asia eneral Account of Europe
10. Team Pacific Headquarter Headquater Collection permissions, accounts of higher level can regularly conduct
Cash Cash
Cash collection Cash collection
collection collection
Automatic collections to account for lower levels within valid durations.
11. Alchemy This explains how automatic concentration of assets are accomplished
Token In a multi-level system.
apan Account Philippine Account Britain Account France Account

12. Risk and

Disclaimer
X-border Centralized Collection (Example)
 8.2. Sub-Account of Direct-Selling Company Example

Direct-selling and distributing industries have a great demand for

irect Selling Company automatic accounts splitting and batch payments.
Management Architecture
01. Preface For direct-selling, distributing industries, Alchemy payment
Headquarter
network solution to use cases of automatic account splitting and
02. Overview
batch payment:
03. Existing istributor 1 istributor 2
• Opening Alchemy hierarchy accounts for direct-selling companies.
Problems Accounts correspond to a hierarchical system of direct-selling
architecture. At each level, accounts support sub-account of various
04. VISION types, e.g. collection account, payment account, splitting account can
istributor11 istributor12 istributor 21 istributor 22
be set at each level.
05. Goal
• Business collection of direct-selling staff at each level goes to

06. Ecosystem corresponding collection account

irect Selling Company • Each day, system automatically concentrates money of collection
07. Product ocument Splitting accounts of each level to master account of the direct-selling company.
Features ocumen ocumen • Direct-selling company formulates document splitting rule, which is
Splitting Splitting
Genera
saved in smart contract.
08. Application Account

Scenarios • When accounting staff of the direct-selling company initiates

istributor 1 Account istributor 2 Account
document splitting operations, smart contract automatically conducts
09. Roadmap Splitting Splitting Splitting Splitting document splitting according to document splitting rule. The money
goes to document splitting account of direct-selling staff through
10. Team batch payment.
istributor 11 istributor 12 istributor 21 istributor 22

11. Alchemy Account Account Account Account

Token
ocument Splitting of irect-selling Company (Example)
12. Risk and
Disclaimer
 8.3. Digital Entertainment Industry Payment

01. Preface

02. Overview

03. Existing
Problems

04. VISION
Game Plyer Game Application Payment Gateway Alchemy Node
05. Goal

06. Ecosystem

07. Product
Features Game Payment Solution
08. Application
Scenarios The digital entertainment market is an important target market for transaction system, payment systems. This is suitable for developers
with lower proficiency in server development. SDK is suitable for cases
Alchemy. Its solution for digital entertainment market is as follows:
09. Roadmap In-APP payment or web games and for developers with moderate
• Packaging Alchemy payment solution into forms such as SDK, API, proficiency in server development.
10. Team and front gateway and then provide these to game developers who
• Alchemy payment solutions for digital entertainment industry includes
can select corresponding solutions according to their own RESEARCH
various services such as cryptocurrency payments, subscription
11. Alchemy AND DEVELOPMENT capabilities. For the simplest case, developers
payments, credit payments, combined payments, and revenue
Token can just set up a few parameters to access Alchemy payment network.
splitting.
• API is suitable for game developers with high proficiency in
12. Risk and RESEARCH AND DEVELOPMENT who needs control over payment
Disclaimer process. Front gateway provides complete platforms which include
 8.4. Offline Consumption
4

Scan QR Code 3 Generate QR Code

01. Preface
8 Push Tansaction

Smart POS Payment Gateway

02. Overview User 5
Wallet APP 4

NFC
03. Existing
Problems 5

04. VISION 7 Commited to blockchain

Lighting Network
2 Transaction Alchemy Payment Network
05. Goal O -Chain
1
Payment Gateway
06. Ecosystem

07. Product 6
O ine Acquiring Solution
Features
On-ChainOn-Chain

08. Application
Scenarios Typical cases of Alchemy payment solution for offline consumption: • Alchemy SDK creates QR code for user to then scan and pay.

• User for an offline merchant chooses cryptocurrency payments. • User scans with the wallet APP to authorize the payment.
09. Roadmap
• Merchant creates a sale order with cash register app of smart POS. • Alchemy payment channel gateway polls to acquire transaction status

The app calls Alchemy SDK to acquire the collection address of the of the block chain order.
10. Team
transaction. • Alchemy transaction processing system writes transaction order into a
11. Alchemy • Alchemy transaction processing system generates payment transaction blockchain payment network.
Token orders. • Alchemy payment gateway pushes real-time payment status to smart

• Payment gateway returns information such as collection address, POS through WebSocket, notifying merchant of successful payment.
12. Risk and
transaction order to Alchemy SDK of the smart POS. • User can also pay through the Lightning Network with the similar
Disclaimer
process
 8.5. Issuance and Circulation of General Bonus Points

Business System Call

01. Preface Merchant Smart Contract

02. Overview

03. Existing
Anchored Transaction
Problems Token Fiat Currency Membership Account
Consumption Consumption Token Holder
Merchant Token ACH Exchange
04. VISION

05. Goal
Token Types
06. Ecosystem Token Transaction
Loyalty Points Gift Certificate
Cash Token Membership Card

07. Product User Decentralized Exchange Discount Token

Features

08. Application Issuance and Circulation Solution of general bonus points

Scenarios

09. Roadmap Typical cases of Alchemy payment network applied to a general • Based on smart contract setting, universal bonus gateway awards user
with merchant Tokens.
bonus points:
10. Team
• Users may check Token assets possessed through wallet APP and use
• Through Alchemy member loyalty management platform, merchant
the rewarded Token for payments in the future.
11. Alchemy issues Token of its own brand, which is anchored in ACH (Alchemy
Token Token). • Users can participate in transaction using rewarded merchant Token at
the Alchemy decentralized exchange. Token can then be converted to
• When users shop with merchants, merchant business systems then call
12. Risk and ACH or Token of other merchants to accomplish Token conversion and
general bonus point gateway of Alchemy platform.
Disclaimer circulation.
 8.6. Cross-Border E-commerce Escrow Payment • If you are concerned about fraud at the money-changer, you can
Choose Alchemy to centralize the escrow service to ensure that the
For cross-border Ecommerce and C2C transaction at platforms like eBay,
Transaction will proceed smoothly.
Taobao, third party participation is needed for escrow transactions due
to lack of trust, and language barriers. During the process methods and • After the merchant at the money-changer has successfully received
01. Preface processes encounter issues such as arbitration of transaction dispute, payment through the smart POS, the local legal currency is then
merchant fraud, and operational support. exchanged to the user.
02. Overview
Alchemy infrastructure such as decentralized operations can safeguard • If an escrow service is used, currency is transferred from the escrow
transaction and create a safe and trust-driven transaction environment. account to the money-changer merchant account only after the user
03. Existing makes the confirmation.
Problems
• If there are disputes during the transaction process, arbitration can be
04. VISION 8.7. Local currency exchange conducted through Alchemy decentralization disputes.
Tourists traveling overseas, migrant workers sending remittances back
05. Goal home, and international students traveling abroad for short periods
of time are all faced with the problem of local currency exchange. The
06. Ecosystem problems are particularly acute in southeastern Asia, including high fees for
transnational remittance service providers/exchange service providers, and
07. Product stringent foreign exchange control policies of various governments.
Features Through Alchemy's numerous online and offline partner network (such as
Zerobank) and solutions, users can exchange local currency easily.
08. Application
Scenarios Typical circumstances, exchange currency at money-changers---
offline:
09. Roadmap
• Offline money-changers installed with preset Alchemy one-stop multi-
10. Team currency receiving solution and can complete the acquiring of various
digital currency and legal currency easily.
11. Alchemy • The user uses our money-changer partner’s APP to find the nearest
Token money-changers and quotes. At the same time, the user can view the
exchange points and credit score in Alchemy.
12. Risk and
Disclaimer • The user scans the merchant's acquiring QR code at the money-
changer to complete the payment.
 9. Roadmap
P7 Alchemy Hub v0.5 is released ( support
P1 Smart POS integration for accepting
payments in cryptocurrency Raiden Network and State Channel)
01. Preface Alchemy Hub APP V0.5 is released
P14 Alchemy Hub v1.5 is released
P8
P2 Payment acceptance on Lightning ( support Raiden Network and State
Network MVP Channel) Cooperate with
P15 Alchemy Hub APP V1.5 is
02. Overview released
business development,
P3 PULLPAY MVP P9 Bitcoin P2P Purchase APP v1.0 continue to iterate
related products,
P10 PULLPAY V0.8 P16 PULLPAY V1.5
03. Existing S1 Offline payment acceptance
solutions and Alchemy
Consensus Protocol
Problems solutions for cryptocurrency C1 Community working group of Alchemy
S7 Multinational centralized
consensus protocol is established
payment acceptance solutions
S2 Merchant POC for offline payment
acceptance C2 Alchemy Consensus Protocol v0.5 is
04. VISION released

05. Goal

06. Ecosystem 2019 Q1-Q3 2019 Q4 2020 Q1 Q2 Q3 Q4 2021 Q1...

07. Product
Features
P4 Magento, Wordpress, WooCommerce, P11 Alchemy Hub v1.0 is released
08. Application Prestashop, Opencart, Zencart, P17 Alchemy Hub v2.0 is released
etc. Shopping Cart Payment Plugin Alchemy Hub APP v0.5 is released
Scenarios P12
( support PULLPAY)
P5 PULLPAY V0.5 P18 Alchemy Hub APP v2.0 is released
P13 PULLPAY V1.0
09. Roadmap P6 Bitcoin P2P Purchase APP v0.5 P19 PULLPAY V2.0
S5 Online digital entertainment
subscription PULLPAY solution
10. Team S3 Merchant POC for online payment
C3 Alchemy Consensus Protocol v1.0 is
Merchant POC for online digital released P Product
S6
S4 Online digital entertainment entertainment subscription C Community
11. Alchemy solutions v1.0 is released PULLPAY solution
S Solution
Token

12. Risk and

Disclaimer
 10. Team
10.1. Founding Team

01. Preface

02. Overview

03. Existing
Problems
Molly ZHENG
04. VISION CEO

05. Goal Over 20 years experence in payment industry. Served as

Senior Consultant of Paypal China, SVP of HSBC China, Direct

06. Ecosystem
of GE Money and Chief Representve of MasterCard China.

07. Product
Features

08. Application
Scenarios

09. Roadmap
Shawn SHI Lance XU Terry CHAN
10. Team
Partner/Products Partner/Operations Financial Director

11. Alchemy 10 years experiences in handling Internet 12 years experience of third-party payment Member of the Hong Kong Institute of Certified Public
Accountants. Terry formerly worked for PwC HK with
Token products;Served as Vice President of Zhong market and operation management and 8 years more than 10 years experience in being a CFO, and
An Technology Co., Senior Product Director of Audit and Assurance services of listed company and
experience in electronic consumer products
Zhong An Insurance, Co-founder of Weizhishu corporate compliance. He has extensive experience
12. Risk and in IPO, regulator inspection, mergers and acquisitions
field;co-founder and former VP of well-known
Disclaimer Co., and the Head of Online Marketing of Qihu and inte rnal controls, has assiste d num e rous
360 Market Center third-party payment institution; companies to list in Hong Kong, Singapore and USA.
 10.2. Technical Team

01. Preface Chuan LIANG Huarong NIU

Director of Payment Technology Director of Communication Technology

02. Overview 18 years experience in telecommunications and 20 years experience in communication technology
Internet industry and 12 years experience in third and international communication; Served as Team
03. Existing party payment; Former CTO of well-known 3rd party Leader of Alcatel-Lucent’s Latin-American business,
Problems payment institution the Director for Alcatel’s China Business and the
Software Development Engineer of Internet Capacity

04. VISION Center, Alcatel Belgium

05. Goal
Lin ZHONG
Director of international payment solutions
06. Ecosystem
Lin Zhong has a 15-year experience of Internet
technology development and 10-year experience
07. Product
in payment and financial solutions; He has worked
Features
as CTO of established company, R&D engineer
of Autonavi group, and has rich experience in
08. Application
international payment solutions.
Scenarios

09. Roadmap

10. Team

11. Alchemy
Token

12. Risk and

Disclaimer
 10.3. Business Team

Alan TIEN
01. Preface Chairman of Global Growth&Compliance Committe
Stanford University;served as VP in the Innovation and
02. Overview Strategic Partnership Department of Visa APAC;GM of
PayPal China.
03. Existing
Problems
Will LEUNG
04. VISION Head of East Aisa
Location: Hong Kong
05. Goal Graduated from the University of Birmingham, UK;
Former co-founder of a well-known international
06. Ecosystem payment company. Will has rich experience in market
development in international mobile payment, and is
07. Product familiar with Hong Kong and other Asian markets.
Features

08. Application
Danny CHUA
Scenarios International Business Director
Location: Malaysia
09. Roadmap
Danny has double degree from Royal Melbourne
Institute of Technology University; With a 19-year
10. Team
experience in the payment / fintech / e-commerce
industry, Danny successively served as Head of
11. Alchemy
Payment and Electronic retail at Maxis (Malaysian No.
Token
1 Telecom operator), and Senior VP of MOL, leading
MOL to launch MOLWallet (RazePay); Danny was also
12. Risk and
a co-founder of an online / offline payment service
Disclaimer
provider, which was acquired by Wirecard in 2013.
 10.4. Consultants & Investors

01. Preface Dr. Justin ZHAN Seema Khinda JOHNSON

Scientist of Big Data and Cryptography Scientist of Blockchain Security
02. Overview Professor of Computer Science at University of Nevada, Co-founder and COO of nuggets
Las Vegas in big data, information security, social
18 years experience in business development and
03. Existing computing and health sciences; Chairman of ASE / IEEE
strategy
Problems International Social Computing Conference (SocialCom),
International Privacy, Security, Risk and Trust (PASSAT) Successfully launched global products for brands such
International Conference and International Biomedical as Skype and Microsoft in multiple cultural regions
04. VISION Computing Conference (BioMedCom); Chairman of
160 international conferences and member of planning
05. Goal committee; Published more than 180 articles and 30
speeches Kai Yee GOH
Cross-border Remitttance Expert
06. Ecosystem
Co-founder and CEO of ZeroBank
07. Product Sean MOSS-PULTZ Formerly the President of Transfast Asia Pacific, GM of
Features Scientist of Blockchain Security United Financial Group, President of PayPal Asia Pacific
Strategic Alliance, President of Harte-Hanks Asia Pacific,
Co-founder and CEO of Bitmark;
08. Application and Western Union International Business Development
Founder of Openmoko which developed the first open Director
Scenarios
source mobile phone in the world

09. Roadmap
Lin LI
10. Team Strategic Development Expert

Natasha LV Formerly the VP of IFENG.com and the Chief Human

11. Alchemy
Senior Compliance Expert Resources Officer
Token
8 years experience at Central Bank EMBA from Guanghua Management School of Peking
Formerly in the head office of BOC and UnionPay University
12. Risk and
Disclaimer Previously Co-founder of Fuiou Financial Network MBA from Kel l ogg School of Management at
Technology Co., Ltd. Northwestern University, US
 Qilin HU
Expert in Finance
Former Venture Partner of Sequoia Capital China;
Former general manager of Baidu Pay Baifubao, the
01. Preface COO of Ping An FinTech and the Deputy General
Manager of Tencent TenPay.

02. Overview Prior to this, worked for PayPal in USA and China for
nearly 10 years;
03. Existing B.S in NKU(Nankai University), MA.S in University of
Problems Lowa, USA. EMBA in Cheung Kong Graduate School of
Business.
04. VISION

05. Goal
Dr. Qi DENG
06. Ecosystem Scientist of AI and Mathematical Modeling
24 years experience in financial technology, quantitative
07. Product finance, AI, deep study and blockchain;
Features
Former quantitative researcher at Bear Stearns

08. Application Developed more than 10 AI and machine learning

models for financial modeling and automated
Scenarios
transaction (focusing on stocks, ETFs, bonds, etc.). Has 7
US invention patents
09. Roadmap
Dr. Grenoble, Senior Commercial Finance, France, Master
of Electrical Engineering, Purdue University, Bachelor of
10. Team Physics, Peking University

11. Alchemy
Token

12. Risk and

Disclaimer
 10.5. Research and Development Team
This team consists of 20 people. The core members include:

01. Preface Bo Lv Datong CHEN

Product Manager Core Development Engineer of Wallet APP

02. Overview 10 years experience in payment products; Former Product Manager Leads wallet app development for merchants
at Tencent, where he focused on aggregate payment and payment
4 years experience in financial APP development and is proficient
03. Existing data; created products including intelligent mobile POS and
at Android/iOS financial product APP development and Ethereum
Problems merchant account system
wallet development; Former development engineer at a well-known
third-party payment company
04. VISION Xiangchao MENG
Core Payment Network Development Engineer Nan ZUO
05. Goal 8 years’ working experience in financial product development Front-end Developer

and an expert on third-party payment, big data risk control and 6 years’ working experience in front-end development with focus on
06. Ecosystem consumer credit product development and Ethereum development adaptive front-end design of various platforms; Deep understanding
technology; Former development engineer at a well-known third- in Web standard and mainstream programming architecture
07. Product party payment company
Features Chaonan GENA
Blockchain Development Engineer
Junjie JIANG
08. Application Core Development Engineer of Payment Leads the development of Lightning Network
Scenarios
Leads the development of payment gateway for digital currencies 3 years experience in Internet financial development and an
expert on consumer financial credit platform; Former development
09. Roadmap 8 years experience in payment industry and an expert on third-party
payment development; Former development engineer at a well- engineer at a well-known third-party payment company

10. Team known third-party payment company

Wenhong LAN
11. Alchemy Smart POS Development Engineer
Yuejiang YUAN
Token Blockchain Development Engineer Leads the development of Smart POS

Four years’ working experience in payment industry with 15 years’ working experience in payment industry and is proficient
12. Risk and
experience in consensus algorithms and various popular blockchain at R&D and maintenance of smart POS terminations and operating
Disclaimer
development languages principles and structures of IC card and POS related products
 11. Alchemy Token 11.2. ACH Nodes and Node Benefit
Most of the ACH tokens will be distributed to payment participants, which are
11.1. ACH
mostly merchants and payers. In this system, each merchant is running node
as it is running a payment terminal. The money transfer is completed by the
01. Preface ACH is the token of whole Alchemy system. Its total volume is capped at 10 node and the node will receive a bonus after each successful transaction. The
Billion, which cannot be increased. Merchants participating in the governance amount of ACH tokens in this bonus is determined by the transaction volume
02. Overview of node network and blockchain payment system need to pledge and which will be distributed by the node to payers and itself.
consume ACH Token. Meanwhile, merchants and payers mine for and collect Alchemy has the ability to achieve regional operation on a global scale and
03. Existing ACH tokens incentives by acting as payment participants. ACH holders have the ACH reward system will differ according to factors such as country, region,
Problems the rights to take part in governance activities. merchant class and consumer class.

04. VISION

05. Goal

06. Ecosystem

07. Product
Features

08. Application
Scenarios

09. Roadmap

10. Team

11. Alchemy
Token

12. Risk and

Disclaimer
 11.3. The Use of ACH The ACH payment ecological reward pool has 4 billion ACH tokens,
accounting for 40% of the total supply, which is expected to be distributed in
5 years.
Alchemy is aware that relying on technical solutions and resources is not
enough to quickly drive the adoption of cryptocurrency payments – which will
01. Preface require a wide range of participants and supporters. As such, a strong 11.3.2. ACH Payment Incentives Mechanism
incentive program is necessary.
Most ACH will be rewarded to both parties involved in a payment transaction.
02. Overview ACH is committed to building an efficient and fair token economic incentive
The core infrastructure that supports the operations of the payment system is
ecosystem. Its core design revolves distributing reward tokens - which holds
the merchant node network. Merchants using Alchemy systems are defined as
03. Existing ecological rights and interests - based on contribution to drive positive impact
nodes, and payment and settlement transactions by merchants and payers
Problems on the ACH payment ecosystem.
take place on the merchant node network. The merchant node network is
The most important benefit for ACH holders is to receive income distribution.
responsible for operations and maintenance of Alchemy's payment scenarios
04. VISION Alchemy can decide whether to buy back ACH from exchange and burning
and capital flow operations.
them or distribute income in BTC and other cryptos, per market observation.
After each transaction is completed, the node network will receive a
05. Goal
corresponding amount of ACH rewards based on the transaction volume. This
11.3.1. ACH Payment Ecosystem and Incentive Mechanism
reward will be distributed to merchants and users participating in the
06. Ecosystem
transaction in accordance with specific algorithm rules. The difficulty of
The ACH payment ecosystem mainly rewards two behaviors: payment and
obtaining rewards will continue to increase over time, and will increase with
07. Product referral. Payment reflects to the action of being participant in the payment
ecosystem. However, the number of payers using Alchemy cryptocurrency the increase in the total size of users. Logarithmic increment functions are
Features
payment system is equally critical. Therefore, referral program to drive the used to control the mining difficulty to obtain rewards. The specific reward
growth in users within the community is extremely crucial to the development rules are as follows:
08. Application
of the ecosystem. Alchemy is an advocate on providing payers with mixed
Scenarios • The difficulty of obtaining ACH increases with time. Every interval is
payment options and believes payers should have the full freedom in
choosing which currency to pay with. The introduction of ACH rewards, split into m minutes, where the difficulty of obtaining ACH within the
09. Roadmap however, will incentivize more payers to choose to pay in cryptocurrencies
same interval is fixed, and the difficulty of the next interval increases.
The interval number starts from 1 (the interval number is also called
and experience the benefits of crypto payments – granting them a fuller
10. Team the interval height h).
picture as to which payment method suits them better.
• The difficulty for users to obtain payment rewards is proportional to
11. Alchemy The mining difficulty to obtain ACH rewards will continue to increase over the total scale of users, and the difficulty coefficient is k.
Token time and scale of users. This means that users, who conduct payment
transactions and refer new users, at different stages will receive varying ACH • In the initial interval, for every payment equivalent of US$100, the
12. Risk and rewards. During the early stages, mining difficulty will be lower and hence, merchant gets a ACH and the user gets k*b ACH. The initial difficulty
Disclaimer provide a higher reward for early participants in the ecosystem. This is in line of acquiring ACH at interval=1 is:
with the principle of establishing community consensus.
 • Interval difficulty q increases with interval height h: Regardless of how ACH rewards are disbursed, to ensure the safety of user
assets and the safety of ACH rewards and recipients’ convenience, parties
who use the Alchemy Pay payment system will be guided to use ACH wallet.
This will further promote the healthy development of the ACH payment
11.3.3.Referral Incentives
ecosystem and drive traffic into the network.
01. Preface
Referral incentives are used to reward invitation behaviors among users. The
size of the incentive correlates to the number of invitees that ultimately joins 11.3.5.ACH Financial Ecological Network & Incentives
02. Overview
the ecosystem into a consensus circle. Each consensus circle can
Small and medium-sized merchants are smaller in scale, hold undisclosed
03. Existing accommodate 5 users and when the circle is filled, the referral incentives will
financial information, have poorer risk measures, and face adverse selection
Problems be released. Note that every user can only join one consensus circle.
and moral hazards. As a result, credit scoring systems on these merchants are
When the interval height is h, the number of ACHs the user gets for every 100
usually weak and mainstream financial resources and services are often not
04. VISION USD payment amount:
available for them. The payment business facilitates financial data which can
be used to help these merchants break the aforementioned barriers –
05. Goal This is the referrer’s basic incentives before referral incentives.
enabling information flow, capital and credit flow. Accordingly, the payment
• When the user joins a consensus circle, the reward is doubled, that is, business is a solid foundation for the development of derivative financial
06. Ecosystem services and solve the problem of information asymmetry. Furthermore,
the consensus circle reward is increased s = c
digital assets can be pledged to circumvent the issue surrounding
07. Product • When the user successfully invites n new users to use Alchemy to
insufficiency of merchants’ mortgage assets. There are far-reaching positive
Features complete a payment, the invitation reward will be increased
impacts in the building of a financial ecosystem based on ACH digital assets,
t = n · 25% · c
which can benefit the entire cryptocurrency ecosystem.
08. Application
• When a new invited user uses Alchemy to complete an equivalent
Scenarios DeFi Between Merchants & Users
payment of US$100, the referrer gets a commission reward r = 25% · c
We now know that ACH is used as holdings necessary for participation and
09. Roadmap incentive reward for participation in this business. At the same time, it can be
11.3.4.Development of Payment Ecosystem
used to provide merchants and users a safer, more convenient and greater
10. Team flexible way to participate in DeFi business. For instance, Alchemy DeFi
The ACH for payment and referral incentives are issued directly through ACH
wallet. For merchants, ACH will be deposited via the payment system used to platform has ACH holdings requirements for lenders to freely conduct
11. Alchemy conduct transactions. On the payer side, incentive distribution depends on lending business – where the borrower is able to use digital assets as
Token the digital wallet used by the payer as Alchemy payment is compatible with all collaterals to initiate loan application. Alchemy will charge a fixed percentage
digital wallets. If the payer’s wallet is able to store ACH, the ACH reward will of interest share as the platform share of the business, and provide incentives
12. Risk and be directly deposited into the payer’s wallet; if the user’s wallet is not able to to both borrowers and lenders in the form of ACH. On the other hand, the
Disclaimer store ACH, the payer’s incentive will be pre-stored in an ACH address and will ACH wallet has a system to calculate credit scores by analyzing data
be prompted with claim instructions. accumulated in payment and credit behaviors in the ecosystem.
 “Ant Credit Pay” of the Crypto World • Merchants, consumers and partners can also carry out carry out
Alchemy creates a decentralized and secure version of Ant Financial’s "Ant mortgage financing business through smart contracts – depending on
their digital asset holdings.
Credit Pay" built upon its payment infrastructure. A borrower can apply for
loan based on his credit score on the platform and ACH holdings to obtain
different amounts of credit and interest-free periods. Additionally, when users Big data business. Alchemy conducts big data analysis on collected payment
01. Preface data. The analyzed and processed data can be exchanged with credit
use cryptocurrency to pay, they may receive credit limits and enjoy the
convenient "consume first, pay later" shopping experience. This consumer reporting agencies, financial institutions, and consulting companies to
02. Overview mutually confirm the validity of data and model orientation or monetized.
credit model will be supported by Alchemy in a wide range of scenarios.

03. Existing Financial intermediary business. Alchemy can establish digital currency
11.3.6.Development of Financial Ecological Network
Problems integration and financing services between partners, merchants, consumers
The ACH Financial Ecological Network will continue to grow on the back of and exchanges, and collect information service fees and intermediary fees.
04. VISION
the above two business models, based on the combination of financial needs
and technological applications, and continue to advance in the following
05. Goal
three areas, including but not limited to:

06. Ecosystem Credit business. Alchemy can provide credit business, develop a full supply
chain digital currency financing system and build a digital financial service
07. Product platform. Digital currency credit business can obtain higher interest income
Features and promote the use of digital currencies such as ACH, and further reduce
forex friction and improve asset utilization.
08. Application
Scenarios • For merchants, Alchemy can provide unsecured short-term digital
currency loans based on their credit scores derived from historical
09. Roadmap transaction data. The loan assets include, but are not limited to, ACH
and other mainstream digital currencies.
10. Team For individual consumers, Alchemy can provide limited loans, based
•
on historical payment data, and charge interest.
11. Alchemy
Token • For partners, Alchemy can provide digital currency credit line and
charge interest based on their historical transaction flow within the
12. Risk and merchant app.
Disclaimer
 11.3.7.Financial Ecological Network Incentive Mechanism M is the scale of platform financial business, μ is the curvature coefficient
(0<μ<1),
The ecological incentive pool totals 1.1 billion ACH, accounting for 11% of the
total ACH supply, is expected to be released over 5 years. The amount of
reward is closely related to the profit of the platform's financial business. That
01. Preface
is, if the platform’s revenue of a certain business is high, the more ACHs will
be rewarded to merchants or users participating in the business. At the same
02. Overview
time, the size of ACH rewards will decrease over time as difficulty of obtaining Mi is the expected business valuation at the end of stage i
ACH rewards increases. Pi is the expected ACH internal business valuation at the end of stage i
03. Existing
First stage: Participants will receive an ACH reward equivalent to 50% of the mi is the starting financial business scale of stage i
Problems
platform revenue of the business segment. If the business is a non-Alchemy ni is the starting point of stage i - ACH financial ecological rewards issued
platform, the reward is shared by the participating parties in a certain qi is the starting point of stage i - ACH acquisition difficulty
04. VISION
proportion. The platform will issue a certain number of ACH rewards to M is the real-time business valuation of the platform
participants every day based on the overall business development and n is the amount of real-time ACH ecological incentives
05. Goal
calculated based on a dynamic difficulty algorithm. In the first stage, a total of Φ is the reward coefficient
100 million ACH rewards will be disbursed.
06. Ecosystem
Second stage: Participants will receive an ACH reward equivalent to 40% of
the platform revenue of the business segment. If the business is a non-
07. Product
Alchemy platform, the reward is shared by the participating parties in a
Features
certain proportion. The platform will issue a certain number of ACH rewards
to participants every day based on the overall business development and
08. Application
calculated based on a dynamic difficulty algorithm. In the second stage, a
Scenarios
total of 300 million ACH rewards will be disbursed.
Third stage: Participants will receive an ACH reward equivalent to 30% of the
09. Roadmap
platform revenue of the business segment. If the business is a non-Alchemy
platform, the reward is shared by the participating parties in a certain
10. Team
proportion. The platform will issue a certain number of ACH rewards to
participants every day based on the overall business development and
11. Alchemy
calculated based on a dynamic difficulty algorithm. In the third stage, a total
Token
of 700 million ACH rewards will be disbursed.
Dynamic difficulty calculation formula for daily rewards:
12. Risk and
Disclaimer
 • The main right of ACH token is to participate in the ecological
11.4. ACH Token Rights governance of the Alchemy network. In order to encourage ACH
holders to participate for the long-term and actively participate in
Within payments scenario, ACH plays an important role as a holdings governance instead of speculative holding, ACH holders will receive
requirement for merchants to access the network. To prevent fraudulent remuneration (income distribution of partial payment service fees) for
participating in the resolution and voting of network ecological
transactions, merchants need to put up matching number of ACH according
01. Preface matters.
to their expected transaction size but will receive them back along with their
rewards after proving they are a long-term and stable merchant node in the • The important role of ACH in transaction scenarios is to serve as a
02. Overview mortgage currency for merchants to access the network. In order to
network.
avoid extraordinary transactions and fraudulent behaviors, merchants
03. Existing need to mortgage the total amount of ACH that matches their
ACH uses in network governance includes: acquiring quota to obtain acquiring quota permissions, and obtain the
Problems
part of the mortgage ACH refund and rewards after proving that they
are a long-term and stable merchant node network.
• Ecosystem anchor coin: The ACH as an anchor coin for the tokens
04. VISION
issued by eco-partners
• Payment ecological incentives: Both merchants and payer in the
• Protocol fee: Partners who join the ecosystem and use Alchemy payment transactions and the referral of new users will receive ACH
05. Goal
protocol need to pay a certain amount of Protocol usage fee rewards.

06. Ecosystem Real-time payment: Consumers of ACH can enjoy real time transaction • Financial ecological incentives: Participants in financial business will
•
with low service fee receive ACH rewards.
07. Product
Features • Escrow deposit: For guaranteed transactions, both parties have to Other incentives: ACH rewards will be given to users and merchants
•
deposit a guarantee in ACH who actively contribute to sharing data; ACH rewards will also be
given to ecosystem partners who contribute to the ecosystem.
08. Application • Service fee：Various service fees are priced in ACH, and ACH will
leverage external stable coins to simplify the calculation of service fees.
Scenarios • Lock-up Requirements: Lockup requirements for merchants’ account
• Dispute Arbitration Fee: Those involved in dispute arbitration must opening, stable coin access, non-stable coin access, long-term lock-
09. Roadmap have certain number ACHs to avoid “non-interest attacks”. The up by strategic partners, etc.
proceeds of the arbitrator are issued in the form of ACH.
10. Team
• Incentives: Users and merchants that contribute data will be rewarded
with ACH; eco-partners, merchants, users who contribute to the
11. Alchemy ecosystem will be rewarded with ACH too.
Token
ACH uses in Alchemy business ecosystem includes:
12. Risk and
Disclaimer
 11.5. ACH Token Allocation Token Allocation
1.8 billion ACH token will be released at the start and 2.5 billion will be in
lockup. 5.1 billion ACH tokens will be distributed to participants through the
11% 18%
growing network and transaction mining. 6% of the total no. of tokens are
01. Preface
perpetually locked in Alchemy payment network to ensure network mobility.
The actual allocation below:
02. Overview
Use of Proceeds Allocation Allocati
Lockup Period
ACH Allocation Planned Use of Proceeds Lockup Period
03. Existing on
Problems
18%
To be released over
Retained capital held by the Alchemy
Alchemy Pay 60 months from date
Pay team for the ongoing development 18%
04. VISION Team
and operations of the Alchemy project
of public launch
(IEO)
Private placement/fundraising through Lockup applies for all 40%
05. Goal Private marketing channels for early start-up early/short-
Placement / research and development, marketing 18% term/long-term
5%
06. Ecosystem IEO and operation of the Alchemy Pay investors, with 2%
project varying periods.
Release in stages
6%
07. Product For early partners in the ecosystem:
according to the Alchemy Pay Team Private Placement / IEO
Features merchants & enterprise partners,
Ecosystem
trading service network partners, 5%
milestones of the Ecosystem Incentives Consulting Fees
Incentives
developer communities, CTO alliance
project plan signed Network Mobility Mining (Payment)
08. Application with each ecological Mining (Fin-Eco)
members. To incentivize contributions.
Scenarios partner
Consulting Fees Recognition for advice and resources
2% 24 months
09. Roadmap & Advisors provided to the Alchemy project
Locked within
Network Providing liquidity support for the network and barred
10. Team 6%
mobility Alchemy node network from entering
exchanges
11. Alchemy Unlocked 5 years
Mining
Token Long term incentives for payment starting from 6
40%
network months post ACH
(Payment)
launch
12. Risk and
Unlocked 5 years
Disclaimer Mining
Long term incentives for financial starting from 6
11%
(Fin-Eco) ecological network months post ACH
launch
 11.6. Distribution of Funds

1.8 billion ACH token will be released at the start and 2.5 billion will be in
lockup. 5.1 billion ACH tokens will be distributed to participants through the
01. Preface growing network and transaction mining. 6% of the total no. of tokens are
perpetually locked in Alchemy payment network to ensure network mobility.
02. Overview The actual allocation below:

Use of Proceeds Allocation Lockup Period

03. Existing
Problems Distribution of
Planned usage
Distribution
Distribution of funds
funds proportion
Development and continuous
04. VISION R&D improvement of Alchemy core 40% R&D
platform
05. Goal Construction of payment network
Security 5% Security
security system

06. Ecosystem Policy Cost for regulatory compliance in

10% Policy Compliance
Compliance various countries and regions

07. Product
Operation Operational expenses of Alchemy 10% Operation
Features
Growing the influence of
Marketing Alchemy’s network via marketing 10% Marketing
08. Application activities for merchants and users
Scenarios Investment in technical projects
Alchemy Fund related to the Alchemy industry 25% Alchemy Fund
to grow the Alchemy ecosystem
09. Roadmap

10. Team

11. Alchemy
Token

12. Risk and

Disclaimer
 12. Risk and Disclaimer Any information, statements, forecasts, plans, and opinions in this
document that relate to the expected blueprints, developments, and

This white paper is a general description of the project to solicit feedback related terms and functions are screened and updated, expanded,

from investors. The Alchemy's directors, consultants and legal counsel modified, independently verified, and revised. Therefore, Alchemy does not
guarantee the authenticity, accuracy or completeness of any information
01. Preface have the right to review and revise the document. Please do not copy or
distribute any part of this white paper without an appendix. No part of this provided herein. At the same time, we hope to achieve all the goals
mentioned in this article. In the case of unforeseen special circumstances,
02. Overview white paper establishes a legal relationship with the recipient of this white
paper and does not make the recipient legally binding or enforceable these goals may be modified or not be implemented without notice to you.

03. Existing against the Alchemy. Its updated version may be dated and published by
12.4. Not Recommended
Problems the Alchemy at appropriate time.
Nothing mentioned in this article constitutes legal, financial, tax or other
Alchemy only carries out business in the countries and regions allowed by advice. We recommend that you consult the relevant experts separately.
04. VISION laws and regulations, and does not involve fiat currency virtual currency
transactions and conversion. 12.5. Regulation
05. Goal
Token does not constitute any form of securities, business trust unit, The regulatory status of cryptographic tokens, including the any digital

collective investment scheme unit or any other form of investment. This currency, digital assets and block chain technology is unclear or unsettled
06. Ecosystem in many jurisdictions. The publication and dissemination of this Whitepaper
white paper does not constitute a prospectus or any form of standardized
contract document. This white paper is not subject to any form of securities, do not imply that any relevant laws, regulations and rules have been
07. Product complied with. No regulatory authority has examined or approved this
commercial trusts or any form of investment institutions.
Features Whitepaper. Where any relevant governmental authority makes changes to
To obtain any information or related content in this white paper, you must existing laws, regulations and/or rules, or where financial institutions make
08. Application confirm with Alchemy and ensure that you accept the following terms: certain commercial decisions, it may have a material adverse effect and/
Scenarios or impair the ability of any relevant entity referred to in the Whitepaper to
12.1. None Offered
function as intended, or at all.
09. Roadmap This white paper does not constitute or form any sales invitation or
instructional subscription, payment, purchase any investment products or
10. Team futures. Nothing in this document or the text constitutes the basis for any
contract or investment decision.
11. Alchemy
Token 12.2. None-Agreement
This Whitepaper shall not be relied on for any contract or to form basis of
12. Risk and any investment decision.
Disclaimer
12.3. Information