Atlendis Labs is proud to announce the opening of one of its first borrower pools for DeversiFi upon launching the Atlendis protocol on June 7th, 2022.
DeversiFi is the technological consecration of several years of decentralized exchange development. The DeversiFi team developed innovative solutions solving a number of crucial problems faced by decentralized exchanges with the end-goal of building a non-custodial exchange suitable for professional traders — frequent day traders, algorithmic funds and arbitrage traders — while offering a speed and security advantage over existing centralized venues. In short, to deliver all the important pillars of profitable trading with all the advantages of self-custody.
DeversiFi is an extremely fast, deeply liquid and private non-custodial trading portal built on Ethereum, harnessing StarkWare’s Layer-2 scaling technology (ZK-Rollup/Validium). DeversiFi provides high-speed API and UI access to some of the industries deepest order-books, allowing for 9,000+ transactions per second, privacy-by-default, competitive fees, and withdrawal-certainty meaning users are always in full control of their assets and can move in and out at speed. All with next to no counterparty risk.
DeversiFi’s protocol includes an Invest feature where users can become liquidity provider in various DeFi protocols and earn yield directly from DeversiFi.
On June 8th, DeversiFi announced the launch of their cross-chain swap feature to enable users to directly swap tokens between Ethereum and Polygon, without having to bridge funds and gas free. DeversiFi already anticipates the launch of their cross-chain swap on Arbitrum, Optimism, Binance and Avalanche.
Deversifi’s Rating and Capacity
X-Margin specializes in proving creditworthiness of borrowers by evaluating their financial exposure both on-chain and off-chain.
Atlendis partnered with X-Margin so they can support the due diligence, KYC and financial performance monitoring of allowlisted borrowers on the Atlendis protocol. Using zero-knowledge technology, X-Margin is able to collect and analyze sensitive data without revealing it, and render an accurate risk assessment and financial scoring of borrowers.
At the time of writing, DeversiFi is credited with a borrower rating of “BB” and a total borrow capacity of USD 5M. More information about X-Margin’s credit assessment methodology can be found here.
Why is DeversiFi borrowing on the Atlendis protocol?
“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,” said Ross Middleton, Co-Founder of DeversiFi.
DeversiFi will use the pool to issue 48-hour maturity bonds and engage in market neutral strategies. The main focus will be to support their market making activities, innovative features such as cross-chain swaps across layers of the Ethereum ecosystem and fast-withdrawal bridges by bringing liquidity and depth when trafic intensifies.
Lending to DeversiFi on Atlendis
Anyone can now use the Atlendis protocol to start depositing assets in DeversiFi’s borrowing pool. This first pool opened for DeversiFi is denominated in USDC, has a maturity of 48 hours and a $5,000,000 borrowing capacity.
First time users should follow Atlendis’ tutorials – both written and video – to easily navigate the protocol and find answers to common questions. Additionally, the team and community are available on Atlendis’ Discord to chat and support users. Any user should also make sure to read the documentation to use the Atlendis protocol responsibly.
As a lender, when providing liquidity to a pool on the Atlendis protocol, a position NFT will be minted and sent to your wallet to reflect your individual position in the pool. It contains information such as your deposit, the currency, the pool ID, and your chosen lending rate. If you decide to withdraw your position, this NFT will be burnt and your assets redeemed. Exchanging this NFT will result in the loss of the ownership of your lending position on the Atlendis protocol.
Want to lend to DeversiFi? Connect to the Atlendis protocol and get started here.
Atlendis is a capital-efficient DeFi lending protocol that enables uncollateralized crypto loans. Institutional borrowers can obtain flexible and competitive loan terms. Uncollateralized loans function as a revolving line of credit, giving borrowers flexibility for recurrent and short term liquidity needs. Lenders earn high returns on actively loaned out capital and have granular control over their investment portfolios. Unused capital is placed on a trusted third-party liquidity protocol, while simultaneously earning additional returns from Atlendis. There is no idle capital on Atlendis. Atlendis enables trusted borrowing and lending, opening a wide range of use cases for borrowers.
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