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

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Polygon-based Crypto Lender Atlendis Taps Fintech Banxa in New V2 Roll Out
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Atlendis, a Polygon-based uncollateralized lending platform, it’s launching its latest iteration, adding a host of new features and key crypto on-ramp along the way.

The protocol offers credit lines for institutional borrowers, and users can act as pooled lenders for such borrowers, earning interest payments and additional DeFi rewards.

Crucially, Atlantis addresses one of the key weaknesses in the crypto space: Uncollateralized lending.

Projects like Aave or MakerDAO, for example, also provide loans to users, but these loans are typically overcollateralized, meaning that you need to post more collateral than you’ll get in the loan. Instead, Atlantis, much like a bank, offers loans without any collateral needed.

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Borrowers still do undergo a creditworthiness check too via a partnership with Credora.

The platform first launched its V1 in July 2022 last Summer, which saw cumulative loans totaling $6.3 million to roughly 5,800 unique lenders.

The newest version of Atlendis will also include features such as flexible lending times for borrowers with an option to roll over loans to subsequent periods, increased due diligence of borrowers, and a Know Your Customer (KYC) option for specific pools to comply with regulations.

“Atlendis continues to improve the Atlendis protocol, simplifying access to DeFi for borrowers and lenders, making funding more accessible for real-world businesses while unlocking new yield opportunities for liquidity providers,” said the project’s CEO and co-founder Alexis Masseron.

Alongside the launch of V2, Atlantis is also adding the publicly-traded fintech Banxa Holdings, Inc. as a borrower to the platform.

The firm will use a $2 million credit line in Tether’s stablecoin USDT borrowed amount to improve the liquidity on the exchange to facilitate larger volumes.

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