Altitude, the DeFi platform for collateral-optimized lending, has announced the conclusion of its private beta and is now opening its vaults to the public. All DeFi users can now leverage automated strategies for more sophisticated and profitable yield designs.
Altitude DeFi protocol launches its public version
Altitude, a DeFi protocol with collateral-optimized lending, announces the release of its public version after months in stealth mode. The public launch follows the closed beta, with hundreds of DeFi enthusiasts stress-testing Altitude's opportunities.
Having operated smoothly for eight months, during which time its protocol attracted a TVL of more than $5 million, Altitude is now inviting public users to access its platform.
Altitude is designed to support the efficient management of on-chain borrowing to ensure greater capital efficiency while preventing loans from becoming under-collateralized. Its dashboard indicates the health of each loan, based on LTV, with controls for adjusting desired parameters.
Altitude is the first DeFi protocol to offer rebalancing, automatically rebalancing borrowing for users based on the price of collateral such as Bitcoin (BTC) and Ethereum (ETH).
On-chain loans are typically capital inefficient since average DeFi users are borrowing at an LTV of around 40–50%, resulting in a significant proportion of capital effectively lying idle. Initial users of the Altitude beta have been impressed with the greater capital efficiency available, coupled with the elimination of the complexity normally associated with borrowing, freeing them to focus on yield generation and other DeFi opportunities.
Maximum yield for LPs in optimized DeFi
When the value of the underlying capital increases, Altitude borrows against it and uses the capital to generate yield, which is used to reduce the loan. Similarly, when the value of the collateral decreases, Altitude returns funds to the lending pool to ensure an optimum LTV.
Altitude’s automated lending and borrowing solution also identifies preferable lending rates and adjusts positions accordingly, ensuring that users are financed at the most attractive rate.
Altitude successfully raised a total of $6.1 million in funding from a clutch of highly reputed VCs, including Tioga Capital and New Form Capital, with GSR also backing the startup in its fundraising efforts.
Investors were taken with Altitude’s solution for giving DeFi borrowers peace of mind while also enabling them to safely generate the maximum available yield.
U.Today Editorial Team
Vladislav Sopov