Polygon-based Crypto Lender Atlendis Knocks Fintech Banxa in New V2 Launch
Atlendis, an innovative collateral-free lending platform, is about to launch its latest version, introducing innovative features and vital crypto avenues. With its lines of credit catering to institutional borrowers, Atlendis enables users to become pool lenders, earning additional interest payments and rewards in the realm of decentralized finance (DeFi).
The emergence of Atlantis signifies a significant advance in the crypto space, as it overcomes one of its main drawbacks: unsecured loans. While platforms like Aave or MakerDAO also offer loans, these usually require the borrower to provide more collateral than the loan amount. In contrast, Atlendis functions similarly to a traditional bank, offering loans without requiring collateral.
Even though there is no collateral, borrowers at Atlendis are still subject to creditworthiness checks, thanks to a strategic partnership with Credora. This ensures a safe and reliable lending environment for all participants.
Atlendis initially launched its V1 version in the summer of 2022, generating an estimated $6.3 million in cumulative loans to nearly 5,800 different lenders. With the release of the latest iteration, Atlendis V2 introduces several improvements. These include flexible loan terms, allowing borrowers to extend loans to a later period, enhanced due diligence processes for borrowers, and Know Your Customer (KYC) options for certain pools, ensuring compliance with regulatory requirements.
Alexis Masseron, CEO and co-founder of Atlendis, expressed his enthusiasm for continuing to improve the Atlendis protocol. He stated, “Atlendis is continuously improving the Atlendis protocol, simplifying DeFi access for both borrowers and lenders. This accessibility allows real-world businesses to obtain funding more easily while providing new revenue opportunities to liquidity providers.”
In addition to the launch of V2, Atlendis has also secured Banxa Holdings, Inc., a publicly traded fintech company, as a lender on the platform. Banxa will leverage a $2 million line of credit in Tether’s USDT stablecoin to increase liquidity on the exchange, facilitating greater trading volume.
With unmatched unsecured lending capabilities and the introduction of advanced features, Atlendis is cementing its position as a leader in the DeFi landscape. By empowering both borrowers and lenders, Atlendis drives accessibility, liquidity and growth in decentralized finance.
