DeFi startup Atlendis, is pleased to announce the launch of the Atlendis Protocol V1 on the Polygon mainnet according to a recent press release.
The move reflects the company’s effort to provide an avenue for crypto-native organizations to access revolving lines of credit that can meet their recurrent liquidity needs instantly without having to worry over the need to provide collaterals.
Atlendis is a capital-efficient DeFi lending protocol that enables uncollateralized crypto loans. The launch of the Atlendis protocol V1 on the Polygon mainnet, a full-stack Ethereum scaling solution, marks another significant milestone for the company after its recently concluded $4.4 million seed funding round and the alpha release of the Atlendis protocol.
Alexis Masseron, the Co-Founder and CEO of Atlendis Labs expressed the team’s delight in the new development saying;
“We are excited to launch the Atlendis protocol and facilitate new DeFi use cases through uncollateralized crypto loans. Our main objective is to help crypto-native organizations access revolving lines of credit to meet their recurrent liquidity needs instantly without having to lock any collateral. In addition to targeting renowned Web3 institutions that engage in market-neutral strategies, Atlendis welcomes non-crypto native companies seeking exposure to crypto-assets.”
Following the launch, liquidity providers (LPs) will be able to deposit into the borrower pool of their choice on the Atlendis protocol to start earning interest. Furthermore, whitelisted institutional borrowers including dApps, protocols, and DAOs, now have access to taking out loans in their specific pools.
Atlendis offers institutional borrowers flexible and competitive loan terms. Its uncollateralized loans are similar to revolving lines of credit, giving borrowers flexibility for recurrent and short-term liquidity needs. Furthermore, the platform enables higher returns with granular control for lenders over their risk profile. Lenders can earn high interests on actively loaned out capital and unused capital will be placed on a trusted third-party liquidity protocol.
With Atlendis, there is no idle capital as it enables trusted borrowing and lending, opening a wide range of use cases for borrowers.
Atlendis Launches With DiversiFi and ZigZag
According to the announcement, there is a decent list of institutional borrowers queueing to launch with Atlendis, however, the company is starting DeversiFi and ZigZag with an initial credit limit of $10 million.
It further notes that interested institutional borrower candidates can contact Atlendis Labs to apply for access to revolving lines of credit on the Atlendis protocol.
The Co-Founder of DeversiFi, Ross Middleton, commented saying;
“Atlendis is a unique protocol that allows DeversiFi to access short-term, revolving, and under-collateralized borrowing to fund DeversiFi’s fast-withdrawal service and multi-chain bridges. We aim to initially borrow USDC from Atlendis and scale to other pools as our cross-chain features roll out.”