Alkimiya (42) (N/A)

42 (prev. Alkimiya) is building a new type of DeFi market called the Alkimiya market by turning blockchain fundamentals like blockspace, hashpower, and gas fees into tradable financial assets.

Instead of focusing on token speculation, the Alkimiya protocol targets infrastructure-level activity, enabling miners and validators to hedge rewards and create synthetic blockspace instruments. The protocol is currently live on Base, Ethereum and Avalanche.

Core Features

Alkimiya combines DeFi with blockchain production economics:

• Synthetic contracts tied to blockspace, hashpower, and gas fees
• Peer-to-peer creation and settlement of financial instruments
• LP Vaults and Gas Refinery features to tokenize gas flows and expand liquidity

More info about their features in docs.

Funding & Backers

In January 2023, Alkimiya raised $7.2M in second private round from 1kx, Castle Island Ventures, Coinbase Ventures, Dragonfly, and others. The strong cap table positions Alkimiya crypto well for further growth.

🪙 Alkimiya Token & Airdrop: As of June 2025,  there is no live Alkimiya token yet, but the team has hinted at a future launch. A points-based campaign called the Fourier Program is already live, where users complete tasks and earn XP. This initiative is expected to lead to a retroactive airdrop. Details here. 

If you're considering joining the campaign, here’s a quick breakdown of 42 (prev. Alkimiya) pros and cons to help you decide.

✅ Alkimiya Pros:

• Above-average PR
• Good SEO and effective growth marketing
• Backed by top investors (Coinbase Ventures, Dragonfly, 1kx)
• Active airdrop farming campaign (Fourier Program)
• Real utility for miners and validators

❌ Alkimiya Cons:

• No Bug Bounty program report
• No token or detailed roadmap yet
• Experimental market model