🏦Borrower FAQ

How to become a borrower on the Atlendis protocol?

What is the Atlendis protocol?

Similar to a revolving line of credit, the Atlendis protocol offers a crypto credit line in the form of a liquidity pool that whitelisted, institutional borrowers can withdraw from at any time.

Who can become a borrower?

Only institutional borrowers (Web3 protocols, DAOs, Web2 corporations, Fintechs, etc.) will be able to borrow on the Atlendis protocol.

What steps are needed to become a borrower?

Credit assessment

The first step towards becoming an authorized borrower on the Atlendis protocol is to go through a credit scoring process. Atlendis has delegated the creditworthiness assessment to third-party partners specialising in analyzing companies financial state.

Whitelisting

Atlendis goes through an assessment of the corporate entities in order to determine their track record, known team and established businesses. This process is currently centralized and done by the core team, but in the future it will be carried out on-chain, by the community.

How to apply?

If your institution would like to open a pool and become a borrower on the Atlendis protocol, please fill out the following form: Borrower application form

Pool Creation

What are the pool's parameters?

• Pool asset: There is only one type of asset per pool. If a borrower wants to borrow multiple assets, they are required to open multiple pools.

• Maturity: Duration of the borrow cycle.

• Borrow Capacity: This corresponds to the maximum credit limit that the borrower might have to use at some point.

• Order Book Range: Minimun and maximum rates of the order book as well as rate spacing.

• Fees Parameters.

• Repayment Period duration.

• Roll over period duration if existing.

Can a borrower open several pools?

Yes, a borrower can open different pools with different assets and/or maturity.

Borrowing

Can a borrower borrow at any time?

Borrowers are free to borrow from their pool provided that they have not used their total borrow capacity and that they are not in repayment period.

Can a borrower borrow more if they have not used all their borrow capacity ?

Yes, but the maturity date of the current borrow cycle is unchanged.

What type of asset can a borrower borrow on the Atlendis protocol?

The type of asset that a borrower can borrow on the Atlendis protocol depends on the asset that the borrower requested at the pool’s creation time.

Can a borrower choose their borrowing rate?

The borrowing rate is fixed by the liquidity providers who deposited into the pool via Atlendis' order book model. The borrower can however choose the ticks they are willing to borrow from, and provide some information to the community on their preferred borrow rate.

Are there any fees to borrow on the Atlendis protocol besides the borrowing rate?

Yes, there are several types of fees:

• Borrowing fees: They represent a % applied on the amount borrowed and are paid at borrow time.

• Roll over fees: They represent a % applied on the amount rolled-over and are paid at roll-over time.

• Gas fees (a gas report is available on demand).

Pool Management

Can the order book range be changed?

These parameters cannot be changed once the pool has been opened. However, borrowers are free to change their preferred borrowing rate displayed on the Atlendis dApp.

Can the borrow capacity evolve?

Yes, this can be changed after pool creation.

Repayment

When shall the borrower repay?

The repayment must happen during a time period (defined as the repayment period) preceding the maturity date.

Can a borrower repay early?

The early repayment feature can be activated for pools on borrowers request.

Are there any fees for late repayment?

In the event of late repayment, a penalty fee will be paid by the borrower to discourage late repayment. The penalty fees accrue with time.

What's the non-standard repayment procedure?

Under certain circumstances, such as a default event under the Master Loan Agreement, the governance of the Atlendis protocol has the ability to initiate a non-standard repayment procedure for a lending pool. This is a unique feature that only the governance can activate. The non-standard repayment procedure enables, among other things, the borrower to early repay or the governance to declare the pool as defaulted.