Atlendis Labs Announces the Launch of the Atlendis Protocol V1

Paris, France, 7th June, 2022, Chainwire

Atlendis, a capital-efficient DeFi protocol that enables crypto loans without collateral, announced today the launch of the Atlendis protocol V1 on Polygon mainnet, a full-stack Ethereum scaling solution.

This is a major milestone for Atlendis (formerly known as JellyFi) following its $4.4 million seed funding round and coming a few months after the alpha release of the Atlendis protocol. Liquidity providers (LPs) can now deposit into the borrower pool of their choice on the Atlendis protocol to start earning interest. Whitelisted institutional borrowers including dApps, protocols and DAOs, can now take out loans in their specific pools.

Atlendis is launching with institutional borrowers DeversiFi and ZigZag with an initial credit limit of $10 million, and there is a growing pipeline of institutional borrowers that will be joining soon. Interested institutional borrower candidates can contact Atlendis Labs to apply for access to revolving lines of credit on the Atlendis protocol.

“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,” said Alexis Masseron, Co-Founder and CEO of Atlendis Labs.    

“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.   

Atlendis Labs and the Atlendis Protocol

Founded in 2021 by former ConsenSys employees, Atlendis addresses capital inefficiencies in the DeFi lending market and provides solutions for recurring liquidity needs and non-dilutive financing. Previously, institutional borrowers including dApps, protocols and DAOs have had limited options to meet their liquidity requirements through crypto loans, as most DeFi lending protocols require borrowers to overcollateralize their loans, thus drastically reducing borrowing use cases in DeFi compared to TradFi.

Features Available for Liquidity Providers

Features Available for Borrowers

Benefits for Borrowers

Once borrowers are whitelisted, the Atlendis protocol will create a specific liquidity pool(s) per borrower and per asset. Borrowers will have instant access to uncollateralized crypto loans at a fair rate via Atlendis’ unique market rate discovery. Borrowers have flexibility as they do not have to lock any collateral. Interest and principal on the crypto loans must be repaid at maturity.

Benefits for Lenders

On the Atlendis protocol, liquidity providers can earn higher rewards than on overcollateralized lending protocols. Lenders have the ability to choose the borrowers that they trust to lend to, as well as their preferred lending rate, benefiting from data including the credit evaluation and live financial performance of the borrowers performed by X-Margin.  

Audit Reports 

Two audits of the Atlendis protocol’s smart contracts were mandated by Atlendis Labs. The first was conducted by Runtime Verification and the second by PeckShield.

About Atlendis

Atlendis is a capital-efficient DeFi lending protocol that enables uncollateralized crypto loans. Institutional borrowers can obtain flexible and competitive loan terms. Uncollateralized loans on the Atlendis protocol are similar to revolving lines of credit, giving borrowers flexibility for recurrent and short-term liquidity needs. For lenders, Atlendis enables higher returns with granular control 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. There will be no idle capital on Atlendis. Atlendis enables trusted borrowing and lending, opening a wide range of use cases for borrowers.

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