Collateral-Optimized DeFi Lending Platform Altitude Surpasses $10M in Deposits
The record TVL achieved by Altitude has been reached in less than a month. It follows the successful completion of the DeFi protocol's private beta, which concluded in mid-June. Since then, Altitude's deposits have doubled to $10M, driven by retail users seeking to optimize their crypto collateral to safely maximize borrowed capital.
Altitude's protocol is designed to enhance onchain borrowing for greater capital efficiency while safeguarding loans against under-collateralization. By automatically rebalancing borrowing based on fluctuations in the price of collateral such as BTC and ETH, Altitude ensures optimal loan-to-value (LTV) ratios. Its intuitive dashboard displays loan health tied to LTV and allows users to fine-tune parameters effortlessly.
Traditional onchain lending protocols are characterized by significant inefficiency, with typical DeFi borrowers maintaining LTVs of 30-40%, leaving up to half of all capital unused. Altitude's growing user base has embraced its ability to maximize capital efficiency and simplify borrowing complexities, enabling them to prioritize yield generation and explore diverse DeFi opportunities.
When collateral values rise, Altitude leverages the increase to borrow additional funds, channeling them into yield-generating strategies that help reduce the loan balance. Conversely, if collateral values drop, Altitude reallocates funds to the lending pool to maintain an ideal LTV. The protocol also dynamically adjusts positions to secure the most competitive lending rates, ensuring cost-effective financing for users.
Backed by $6.1M in funding from prominent web3 VCs like Tioga Capital, New Form Capital, and GSR, Altitude has garnered strong support for its innovative approach. Investors have been impressed by its ability to offer DeFi borrowers both peace of mind and the opportunity to safely maximize yields.
Hitting $10M in BTC and ETH deposits within weeks of the public launch validates Altitude's vision of making DeFi more user-friendly and capital efficient. Through addressing market inefficiencies coupled with superior UI/UX, Altitude is helping to accelerate mainstream adoption of decentralized finance.
Altitude is a decentralized protocol on Ethereum that optimizes collateralised lending, ensuring both the lowest possible cost of borrowing as well as generating yield from users' dormant collateral. By actively managing debt and collateral in real-time, Altitude optimizes capital efficiency.
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