Altitude Hits $10M TVL Milestone as Collateral-Optimized DeFi Lending Gains Traction

• Retail customers who are looking to optimize their cryptocurrency collateral in order to securely maximize borrowed funds.
• Altitude guarantees that loan-to-value (LTV) ratios are ideal by dynamically adjusting borrowing based on variations in the price of collateral such as Bitcoin and Ethereum.

An important step forward in the process of delivering collateral-optimized onchain lending has been disclosed by the DeFi protocol Altitude. Since its public launch, deposits of Bitcoin and Ethereum have increased at a quick pace, resulting in a total value locked (TVL) of more than $10 million.

Less than a month has passed since Altitude set a new record for the highest TVL it has ever attained. The successful conclusion of the private beta of the DeFi protocol, which came to an end in the middle of June, coincides with this development. Retail customers who are looking to optimize their cryptocurrency collateral in order to securely maximize borrowed funds have been the driving force behind the doubling of Altitude’s deposits to $10 million since then.

The protocol that Altitude has developed is intended to improve on-chain borrowing methods in order to achieve improved capital efficiency while also protecting loans from under-collateralization. Altitude guarantees that loan-to-value (LTV) ratios are ideal by dynamically adjusting borrowing based on variations in the price of collateral such as Bitcoin and Ethereum. A user-friendly dashboard that shows loan health in relation to LTV and enables users to easily adjust settings is provided by this product.

Due to the fact that typical DeFi borrowers maintain LTVs of 30-40%, traditional onchain lending methods are characterized by high inefficiency. This results in up to half of the capital being left utilized. The ever-expanding user base of Altitude has enthusiastically embraced the platform’s capacity to optimize capital efficiency and simplify the difficulties of borrowing, which enables them to prioritize return creation and investigate a wide range of decentralized finance alternatives.

The growth in collateral values is leveraged by Altitude in order to borrow more funds, which are then channeled into yield-generating techniques that assist in reducing the loan burden. On the other hand, in the event that the value of the collateral decreases, Altitude will reallocate funds to the lending pool in order to maintain the appropriate LTV. Additionally, the protocol makes dynamic adjustments to positions in order to achieve the most competitive lending rates, which guarantees that customers will have access to cost-effective finance.

The creative method that Altitude takes has earned a lot of attention, and it has been supported by notable web3 venture capitalists such as Tioga Capital, New Form Capital, and GSR, who have contributed $6.1 million in funding. Investors have been pleased by its capacity to provide investors with the option to securely optimize rewards while also providing borrowers of decentralized finance with peace of mind.

Altitude’s objective of making decentralized finance more user-friendly and capital efficient was validated when more than ten million dollars in Bitcoin and Ethereum deposits were made within a few weeks of the public debut. In addition to providing greater user interface and user experience, Altitude is contributing to the acceleration of the mainstream adoption of decentralized finance by eliminating market inefficiencies.

Altitude is a decentralized protocol built on Ethereum that optimizes collateralized lending. It does this by guaranteeing that the cost of borrowing is as low as possible while still producing yield on the dormant collateral of users. Through the proactive management of debt and collateral in real time, Altitude maximizes the efficiency of its capital.