42 (prev. Alkimiya) is a DeFi protocol focused on tokenizing and trading future yield from staking and on-chain assets. It brings a new layer of capital efficiency by allowing users to hedge or speculate on yield, similar to fixed-income markets in TradFi. Built on Ethereum, the protocol supports ETH, LSTs, and LSDfi integrations.
In 2022, Alkimiya protocol raised $7.2M in a round led by Dragonfly, with participation from Ethereal Ventures, Circle Ventures, and NGC. The team is actively expanding and recently launched an airdrop campaign for early users.
Please note that all information, including our ratings and reviews, is presented purely for educational purposes. CoinLaunch isn't a financial advisor and doesn't intend for the information to be perceived as investment advice or recommendations. Our project evaluation methodology encompasses 89+ distinct variables/metrics, refined over time through the team's rich 7-year experience.
Alkimiya (42) Overview
Alkimiya (42) Review
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
Alkimiya (42) Token Economy
Alkimiya (42) Token Sale (ICO & IDO) Rounds
Alkimiya (42)
Funds and Backers (3/6)
Submit | Fund | Score | Type | Retail ROI | Numbers of investments |
|---|---|---|---|---|
| Very High | 1.53x | 85 | ||
| N/A | 1.55x | 41 | ||
| Very High | 1.23x | 37 |
Alkimiya (42) Marketing Activity
Social Media Activity
Top Twitter (X) Followers
Alkimiya (42) Airdrop & Retrodrop & Bounty
Description
42 (prev. Alkimiya) is building a decentralized derivatives protocol that allows users to hedge future yield from staking and mining. In January 2023, the project raised $7.2M in a private round led by 1kx, with participation from Dragonfly Capital, Fenbushi Capital, and Robot Ventures, highlighting strong investor confidence in the protocol.
Recently, the team has launched an airdrop campaign – Program Fourier, based on a points system. Users can earn points through on-chain activity, which may later qualify them for retroactive rewards. While no token has been officially confirmed, the airdrop is live and open to early adopters.
Others in upcoming IDO
Get Trust & Increase Conversion Rate
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