Atlendis V2 Launches On Polygon Mainnet And Opens First Pool
Key Points:
- Atlendis has announced the release of the Atlendis protocol V2 on the Polygon mainnet.
- Banxa, the leading on-and-off ramp solution for Web3, is the first borrower to launch a liquidity pool on the V2.
- The Banxa pool starts with a $2 million USDT capacity.
Atlendis Labs, a decentralized finance (DeFi) credit marketplace, stated in a press release that its improved version had been deployed on the Polygon blockchain’s mainnet, with payment service provider Banxa as the first borrower.
The update gives borrowers the opportunity to return early or roll over a portion of their outstanding credit, adds compliance options for pools to be permissionless or permissioned via know-your-customer (KYC) checks, and boosts borrowers’ due diligence.
The Atlendis protocol has crossed $6 million in total repaid loans and over 11,000 distinct lenders since its introduction a year ago.
Atlendis V2 is a considerable enhancement to the RCL product in V1, improving protocol utilization and flexibility. Important enhancements include the ability to adjust the protocol to the specific demands of borrowers while simultaneously providing lenders with additional freedom. The V2 targets a wider variety of financing use cases, providing the new potential to better serve lenders and borrowers equally while retaining core features such as decentralized rate discovery and NFT positions.
Banxa, a popular on- and off-ramp service between fiat money and cryptocurrencies, will launch a stablecoin credit pool of $2 million USDT from Tether. The business will be the pool’s only borrower, and the credit line will be used to meet the firm’s expanding daily transaction volume liquidity demands.
Banxa’s credit line on Atlendis will be utilized only to fund the expanding liquidity requirements to sustain the huge expansion in their daily transaction volumes. The management team at Banxa maintains a clear line of demarcation between operating expenditures and liquidity requirements.
The move comes as crypto-native platforms increasingly provide conventional financial investments – known as real-world assets (RWA) – such as private credit utilizing blockchain technology and smart contracts, allowing for faster underwriting and transactions.
The tokenization of RWAs has emerged as one of the hottest investment themes in crypto this year, propelled by the collapse of DeFi lending and attractive real-economy payouts as central banks across the world raised interest rates to battle inflation.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Author
News
Atlendis V2 Launches On Polygon Mainnet And Opens First Pool
Key Points:
- Atlendis has announced the release of the Atlendis protocol V2 on the Polygon mainnet.
- Banxa, the leading on-and-off ramp solution for Web3, is the first borrower to launch a liquidity pool on the V2.
- The Banxa pool starts with a $2 million USDT capacity.
Atlendis Labs, a decentralized finance (DeFi) credit marketplace, stated in a press release that its improved version had been deployed on the Polygon blockchain’s mainnet, with payment service provider Banxa as the first borrower.
The update gives borrowers the opportunity to return early or roll over a portion of their outstanding credit, adds compliance options for pools to be permissionless or permissioned via know-your-customer (KYC) checks, and boosts borrowers’ due diligence.
The Atlendis protocol has crossed $6 million in total repaid loans and over 11,000 distinct lenders since its introduction a year ago.
Atlendis V2 is a considerable enhancement to the RCL product in V1, improving protocol utilization and flexibility. Important enhancements include the ability to adjust the protocol to the specific demands of borrowers while simultaneously providing lenders with additional freedom. The V2 targets a wider variety of financing use cases, providing the new potential to better serve lenders and borrowers equally while retaining core features such as decentralized rate discovery and NFT positions.
Banxa, a popular on- and off-ramp service between fiat money and cryptocurrencies, will launch a stablecoin credit pool of $2 million USDT from Tether. The business will be the pool’s only borrower, and the credit line will be used to meet the firm’s expanding daily transaction volume liquidity demands.
Banxa’s credit line on Atlendis will be utilized only to fund the expanding liquidity requirements to sustain the huge expansion in their daily transaction volumes. The management team at Banxa maintains a clear line of demarcation between operating expenditures and liquidity requirements.
The move comes as crypto-native platforms increasingly provide conventional financial investments – known as real-world assets (RWA) – such as private credit utilizing blockchain technology and smart contracts, allowing for faster underwriting and transactions.
The tokenization of RWAs has emerged as one of the hottest investment themes in crypto this year, propelled by the collapse of DeFi lending and attractive real-economy payouts as central banks across the world raised interest rates to battle inflation.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Other Posts
Related Posts
Latest
Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B
Crypto Advisory Council Now A White House Position Attracting Leaders
Press Release
Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B
Analyst Sounds Major Breakout Alert Amid Shiba Inu, WallitIQ, And Dogecoin Price Recoveries
