What is Atlantis Loans
DeFi platforms are popping up everywhere these days – it’s all the crypto community can do to keep pace and sort the good from the bad. If you’re searching for information on the DeFi lending platform Atlantis Loans, you’ve probably struggled to find much so far – not a lot is known about this intriguing new prospect.
Good news. We’re here to shed some light. Let’s take a look at the Atlantis market, its earning and borrowing terms, and its goals.
What is Atlantis Loans?
The platform was launched in October 2021. Its goal is to make borrowing and lending transactions easier using crypto while offering attractive interest rates for users.
The Atlantis market operates using BSC (Binance Smart Chain), Avalanche and Polygon. Its goal is to offer true multi-chain support in a bid to allow users to trade cryptocurrencies and stablecoins across all major blockchains.
In its whitepaper, the platform notes that Atlantis Protocol rests on a native cryptocurrency, the Atlantis Token (ATL). These are capped at 6,500,000, with 18% of all ATL being reserved for the development team and marketing community.
It’s an open-source project that allows ATL holders to become stakeholders and governors in the protocol’s future. Decisions about the platform’s direction are voted on by users, mitigating the risk of a DeFi platform becoming centralized “by default” as it grows.
How Does Atlantis Loans Work?
Lending and borrowing are at the center of the Atlantis market. It’s a non-custodial platform, and all transactions are conducted via BSC, Avalanche or the Polygon chain.
Some key issues of crypto platforms that the protocol aims to address include:
- High interaction fees. The platform’s stated goal is to make borrowing and lending more affordable for crypto enthusiasts. It considers the rates for contract interactions on other lending platforms to be unjustifiably high.
- Improved security monitoring. A fascinating feature of the Atlantis market is that it allows liquidators easy access to underwater accounts that are destabilizing the protocol. By swiftly addressing dubious accounts, it aims to keep itself stable and offer a more trustworthy experience as well as rewards for liquidators.
- Self-governing community. ATL holders can vote on changes to the service. Those holding 65,000 ATL or more can create proposals. This is designed to ensure that the needs of lenders and borrowers are equally represented.
- Equable distribution of ATL. A core goal of the platform is to distribute its native cryptocurrency to suppliers and borrowers equally, rewarding users who provide liquidity.
Signing Up for Atlantis Loans – Step-by-Step Guide
- Go to the company’s website and click “connect wallet.”
- Select whether you want to connect with BSC, Avalanche or Polygon.
- Select your wallet type.
- Start borrowing and lending using many popular cryptocurrencies supported on BSC, Avalanche and Polygon.
Who Should Use Atlantis Loans?
The platform rewards users who provide liquidity to the Atlantis market. This means that if lenders are at a premium and you’re interested in becoming a supplier, you’ll find attractive rates on ATL when you sign up.
Anyone interested in the self-governing side of DeFi platforms will also be interested in how users can influence the protocol’s direction. Having a stake in the market you use to borrow and lend is advantageous, especially when trading at higher volumes.
Who is Behind Atlantis Loans?
Its creator is known as MikeM, who also founded the DeFi platform Venus Finance.
What Makes Atlantis Loans Unique?
The protocol’s self-governing nature is somewhat different from most crypto platforms, which largely rely on centralized governance in some way. Its system of rewarding users for providing liquidity and allowing liquidators to deal with underwater wallets is also very innovative.
Atlantis Loans is extremely new, which means we’ll be watching with interest to see if it lives up to its promise. It seems secure, working with BSC, Avalanche and Polygon, and has a strong mission outlined in its whitepaper. It’s also very simple to open an account, and we recommend doing so even though it’s still developing. You will find good rates and enjoy the easy-to-use system.