We present a syntactic cut-elimination procedure for the alternation-free fragment of the modal mu-calculus. Cut reduction is carried out within a cyclic proof system, where proofs are finitely branching but may be non-wellfounded. The structure of such proofs is exploited to directly transform a cyclic proof with cuts into a cut-free one, without detouring through other logics or relying on intermediate machinery for regularisation. Novel ingredients include the use of multicuts and results from the theory of well-quasi-orders, the later used in the termination argument.
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