What is Alkimiya?

Alkimiya is a protocol designed to create, trade, and settle synthetic blockspace resources through peer-to-peer smart contracts. Public blockchains have limited transaction capacities, resulting in competition and fluctuating fees. Alkimiya addresses this by converting key blockspace resources, like average transaction fees, into tradable assets, allowing for better price discovery and resource allocation. This system benefits various users: miners can secure future revenue by selling transaction fees, service providers such as wallets and exchanges can hedge against fee volatility by purchasing fees, and collectors can offset high minting costs. The protocol's design enables improved prediction and management of on-chain settlement costs, transforming how blockchain networks handle resource allocation and pricing.