Atlendis is a capital-efficient DeFi protocol enabling uncollateralized crypto lending to institutional borrowers. Atlendis enables lenders to deposit digital assets in a single pool per asset and per borrower, and to earn liquidity rewards while funds are unused and additional rewards as funds are lent out.
The Atlendis protocol v2 has been audited by two independent audit companies. Audit reports are being finalised, and will be shared once ready, shortly after v2 is released.
Anyone can use the protocol to lend assets. Only whitelisted institutional borrowers can take out a loan, for more information please refer to the borrower FAQ.
At launch, the Atlendis protocol is operating on the Polygon network.
Each liquidity provider’s deposit on the Atlendis protocol is characterized by a position. The positions are represented by an NFT with original artwork. A position is characterized by:
- Borrower pool
- Chosen lending rate
- Amount actively borrowed by the borrower
- Amount not currently borrowed
All pools on the Atlendis protocol are single-asset pools. The type of assets that lenders can deposit on the Atlendis protocol vary from pool to pool, and the borrower decides the asset they wish to borrow at the pool’s creation. Lenders can filter the pools by asset type in the “Atlendis” section of the dApp.
Information about the borrower is available on the borrower's pool page.
Either the borrower is not currently borrowing from their pool, or other liquidity providers in the pool have set lower lending rates and therefore, their funds have been lent on a priority basis.
Looking at the borrower's preferred rates range and the volume weighted average lending rate should give lenders an indication of how likely their funds are to be borrowed.
This can be found on the position page of the dApp.
The lender's lending rate should depend on the lender’s own risk assessment of the borrower’s default risk.
Yes, the chosen lending rate must remain within a range set at the pool’s creation time.
The range is provided by the borrower. It is an indication of the rate at which the borrower might be willing to borrow. Having a preferred rate range serves as reserve price and removes the risk of a borrower never using their pool, which would be detrimental for lenders.
The maturity of a loan is a parameter that is fixed at the opening of the pool and visible on the pool’s description card.
Funds that are not actively loaned out are withdrawable at any time. Funds that have been loaned out can be withdrawn depending on the available amount of liquidity in the pool.
Liquidity providers can change their position's lending rates as long as their funds are not actively loaned out.
A withdrawal fee of 10bp is applied to withdrawing position.
At the end of a loan cycle, lenders can't withdraw their funds from the pool by any action (withdraw, exit, opt out) during a short period of time, which is the freeze period. This is meant for borrowers to get enough time to organise the on ramping of their funds to repay the loan, or to decide if they are going to rollover their loan, as this period guarantees a certain level of liquidity in the pool.
Lenders can decide to withdraw their funds any time before or after the freeze period. Borrowers can choose not to activate the freeze period if they don't need it.
Yes, interest earned on the Atlendis protocol is calculated based on both the initial deposit amount and the accumulated interest.
In the first iteration of the Atlendis protocol, liquidity providers of a specific pool cover the loss if the borrower defaults on that pool.