Decentralized Finance (DeFi) Credit Marketplace Upgrades on Polygon Mainnet
Atlendis Labs, a leading DeFi credit marketplace, has successfully deployed its upgraded version on the Polygon blockchain’s mainnet, as per the official press release.
Banxa Becomes the First Borrower on Atlendis Labs
Payment service provider Banxa has become the first borrower on Atlendis Labs’ upgraded platform. With this move, borrowers now have the flexibility of early repayment options or partial rollovers of outstanding credit. Additionally, the upgrade introduces compliance choices for pools, making them either permissionless or permissioned through know-your-customer (KYC) checks. Furthermore, it enhances due diligence measures on borrowers, bolstering the overall security of the lending ecosystem.
Banxa Opens $2 Million Lending Pool for Stablecoin Credit
Known for its seamless fiat-to-crypto on- and off-ramp services, Banxa has launched a stablecoin credit pool of $2 million denominated in Tether’s USDT. The company will be the sole borrower of this pool and intends to utilize the credit line to support its liquidity requirements arising from growing daily transaction volumes.
Crypto-Native Platforms and Real-World Assets (RWA) Investments
The development of crypto-native platforms offering traditional financial investments, especially real-world assets (RWA), has gained significant traction. Blockchain technology and smart contracts have enabled faster underwriting processes and transactions for RWA investments. The tokenization of RWAs has emerged as one of the hottest trends in the crypto space this year. This growth has been spurred by the decline of DeFi lending and the attractive yields in the real economy, particularly as central banks worldwide have raised interest rates to combat inflation.
Revolutionary Credit Lines for Small and Medium-Sized Businesses
Headquartered in Paris, Atlendis provides revolving credit lines to small and medium-sized businesses and fintech firms using the protocol’s liquidity pools. Prospective lenders can deposit stablecoins into these pools to earn a yield. The platform offers a unique feature allowing liquidity providers to set their desired interest rates with the help of a built-in lending rate order book. If an investor’s interest rate aligns with the platform’s loan demand, the protocol lends out the funds as a loan. In cases where the interest rate does not match the loan demand, the funds are deposited into DeFi lender Aave to earn a yield.