Atlantis Loans Gains Over $500M Deposits in 1 Week with ACryptoS

The lending platform has seen substantial user interaction in a very short period of time after launch.

Atlantis Loans is Heating Up

Atlantis Loans is the latest sensation on Binance Smart Chain (BSC) as the platform has gained over $500M in deposits in just 1 week after launching. Touted as ‘DeFi for Professionals’, Atlantis Loans is a decentralized lending platform launched by MikeM (creator of Venus Finance) that allows users to lend, borrow and earn interest on crypto.

The platform aims to resolve a number of pain points for the BSC community with respect to lending platforms such as high gas fees for contract interactions, community driven governance, and adequate security monitoring. 

Atlantis Rush Rewards

Atlantis Loans is governed by the ATL token which is currently mined by providing liquidity in different markets on the Atlantis platform. For the first month, Atlantis is offering ‘Rush Rewards’ where the mint rate of ATL tokens is very high to reward early users for taking part in the protocol, and rush rewards are still active for another 3 weeks. Below are the yields being offered on Atlantis Loans currently:

The Atlantis team is developing the platform very actively as three new markets were added recently: ADA, DOT & CAKE.

Also, Atlantis Loans currently supports two vaults for staking LP and ATL tokens. By utilizing the vaults, the Atlantis users can earn daily ATL with a very high APR.

Moreover, the Atlantis team also launched decentralized governance for the platform, effectively giving control of the future of Atlantis to ATL holders. Atlantis looks poised to be amongst the 3 biggest Defi apps on Binance Smart Chain with such a fast pace of development and innovation. 

Atlantis platform is developed by making use of battle-tested code that has been forked from Compound Protocol on Ethereum, and the team is also awaiting on an audit from PeckShield that will be completed by the end of November.

Atlantis Vaults on ACryptoS

Being amongst the pioneers of Defi on Binance Smart Chain, ACryptoS partnered with Atlantis Loans on the second day of its launch. This helped bring exposure to the platform from the large community of ACryptoS who helped provide a majority of the deposits on the new platform.

ACryptoS is a yield optimizer, and the Atlantis vaults on ACryptoS leverage single-asset vaults such as BTC or BNB to generate 4 times the yield offered on Atlantis vaults. On top of this, ACryptoS also offers ACS rewards on top of the yield generated from Atlantis, thereby automating the process of harvesting rewards from Atlantis.

ACryptoS has received 4 audits on its smart contracts, and the Atlantis vaults contain no liquidation risk for depositors since the vaults lend and borrow the same asset on Atlantis. Therefore, the yields on ACryptoS are generated from a safe strategy that has been utilized on other platforms like Venus for over 1 year.

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Yields for ACryptoS Atlantis Vaults

With Atlantis Rush Rewards currently active and ACryptoS assigning 5x weights for the biggest Atlantis vaults, the yields for Atlantis Vaults on ACryptoS are currently the highest on BSC, offering high double-digit APYs for cryptocurrencies such as Bitcoin, Ethereum, BNB, Cardano, Link and Polkadot. Moreover, the highest reward mining weights are assigned to the native ATL vaults which are currently offering over 2% rewards daily. Below is a screenshot of the average yields being offered on the Atlantis Vaults on ACryptoS currently:

As the image above shows, Atlantis vaults at ACryptoS have garnered close to $100M deposits in a short time because of the attractive yields. With Atlantis Rush Rewards active for 2 more weeks and the Atlantis team continuing to develop new features for the protocol, the growth outlook is bright for Atlantis, and the Atlantis vaults at ACryptoS will continue to attract more TVL from smart investors in BSC who will shift funds to the highest yields being offered on the safest yield optimizer which has a 100% safety track record.

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About Atlantis Loans

Atlantis Loans is a decentralized lending system that allows users to lend, borrow and earn interest on cryptocurrencies. The platform was launched in October 2021 and has immediately identified itself as one of the leading Decentralized Finance (DeFi) apps on BSC.

The goal of Atlantis Loans is to deliver the best DeFi experience across all popular blockchains. The Atlantis UI already has integrated multi-chain support in its core which will guarantee its users a seamless and clean experience while utilizing different blockchains. 

For more information on Atlantis Loans, visit the following links:

App‍

Twitter‍

Telegram

About ACryptoS

ACryptoS is a yield farming optimizer designed for the longer-term investor who values sustainable tokenomics, safety and careful risk management. ACryptoS provides exceptional tokenomics to reward vault holders of their native tokens; $ACS and $ACSI. These include getting up to 2.5x boost on APY from farms, receiving distribution of almost all fees, and being able to take part in governance. As of writing, ACryptoS has generated $11.2M in protocol revenue for ACS, which is used to buy back ACS from the market.

For more information on ACryptoS, visit the following links:

App

Twitter‍

Telegram

Source : bsc.news