Blockchain News

Polygon-based Crypto Lender Atlendis Taps Fintech Banxa in New V2 Roll Out

Atlendis, a groundbreaking uncollateralized lending platform, is set to unveil its latest version, introducing a wide range of innovative features and a vital crypto on-ramp. With its credit lines catering to institutional borrowers, Atlendis allows users to become pooled lenders, earning interest payments and additional rewards in the decentralized finance (DeFi) realm.

The advent of Atlantis signifies a significant advancement in the crypto space, as it successfully tackles one of its key weaknesses: uncollateralized lending. While platforms like Aave or MakerDAO also offer loans, these typically require borrowers to provide more collateral than the loan amount. In contrast, Atlendis functions similarly to a traditional bank, offering loans without the need for collateral.

Despite the absence of collateral, borrowers on Atlendis still undergo a creditworthiness check, thanks to a strategic partnership with Credora. This ensures a secure and reliable lending environment for all participants.

Atlendis initially launched its V1 version in the summer of 2022, resulting in cumulative loans of approximately $6.3 million to nearly 5,800 distinct lenders. With the release of the latest iteration, Atlendis V2 introduces several enhancements. These include flexible lending times, enabling borrowers to roll over loans to subsequent periods, enhanced due diligence processes for borrowers, and a Know Your Customer (KYC) option for specific pools, ensuring compliance with regulatory requirements.

Alexis Masseron, the CEO and co-founder of Atlendis, expressed his enthusiasm for the continued improvement of the Atlendis protocol. He stated, “Atlendis continues to enhance the Atlendis protocol, simplifying DeFi access for borrowers and lenders. This accessibility enables real-world businesses to obtain funding more easily while simultaneously providing liquidity providers with new yield opportunities.”

In addition to the launch of V2, Atlendis has also secured Banxa Holdings, Inc., a publicly-traded fintech company, as a borrower on the platform. Banxa will leverage a $2 million credit line in Tether’s stablecoin USDT to enhance liquidity on the exchange, facilitating larger trading volumes.

With its unrivaled uncollateralized lending capabilities and the introduction of cutting-edge features, Atlendis solidifies its position as a leader in the DeFi landscape. By empowering borrowers and lenders alike, Atlendis drives accessibility, liquidity, and growth in the realm of decentralized finance.

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