Atlendis, a
-based uncollateralized lending platform, it’s launching its newest iteration, including a bunch of latest options and key crypto on-ramp alongside the way in which.
The protocol gives credit score traces for institutional debtors, and customers can act as pooled lenders for such debtors, incomes curiosity funds and extra DeFi rewards.
Crucially, Atlantis addresses one of many key weaknesses within the crypto area: Uncollateralized lending.
Tasks like Aave or MakerDAO, for instance, additionally present loans to customers, however these loans are sometimes overcollateralized, which means that it’s good to put up extra collateral than you’ll get within the mortgage. As an alternative, Atlantis, very similar to a financial institution, gives loans with none collateral wanted.
Debtors nonetheless do endure a creditworthiness verify too by way of a partnership with Credora.
The platform first launched its V1 in July 2022 final Summer season, which noticed cumulative loans totaling $6.3 million to roughly 5,800 distinctive lenders.
The most recent model of Atlendis may also embrace options similar to versatile lending occasions for debtors with an choice to roll over loans to subsequent intervals, elevated due diligence of debtors, and a Know Your Buyer (KYC) possibility for particular swimming pools to adjust to rules.
“Atlendis continues to enhance the Atlendis protocol, simplifying entry to DeFi for debtors and lenders, making funding extra accessible for real-world companies whereas unlocking new yield alternatives for liquidity suppliers,” stated the challenge’s CEO and co-founder Alexis Masseron.
Alongside the launch of V2, Atlantis can be including the publicly-traded fintech Banxa Holdings, Inc. as a borrower to the platform.
The agency will use a $2 million credit score line in Tether’s stablecoin USDT borrowed quantity to enhance the liquidity on the alternate to facilitate bigger volumes.
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