Atlantis Loans Announcements
Dear Atlantis Community,
It is with a heavy heart that we write to inform you of the difficult decision we have made to stop working on maintaining the Atlantis Loans lending platform. Over the past year, we have been committed to providing a professional lending platform with vast paced development and a top notch user interface. We have been fortunate to have the unwavering support of our community and have worked diligently to deliver on our promise.
Unfortunately, over the past 6 to 8 months we have faced financial difficulties that have significantly impacted our ability to maintain the high-quality services that our community has grown accustomed to. The competitive landscape, continuous asset security management
and the ongoing need for improvements have put a strain on our resources, and we have come to the difficult realization that we cannot continue to operate under these circumstances.
We understand that this news may come as a disappointment to you, our valued community members. Please know that this decision was not taken lightly, and we have explored every possible avenue to avoid this outcome. However, after much deliberation, we believe that discontinuing our services is in the best interest of our users and the protection of their funds.
What will happen to Atlantis Loans?
Atlantis Loans as a protocol is fully decentralized and the only way to make changes or turn things off will have to be done through the governance. We will make sure the hosting costs for running the Atlantis UI is paid upfront for the next two years. In the meantime we will open-source our UI so that the interested community members can continue maintaining it.
What will happen to ATL?
As long as there are funds supplied in Atlantis Loans, ATL will keep playing an important role by safeguarding the assets and protecting the protocol. Currently, we have over 450k ATL in our possession which will be burned before July 2023. This step is necessary to make sure the team has no control over the platform and other interested parties have the freedom to start creating proposals and maintaining the protocol.
Support
Users having issues with the platform can communicate with us through our support email: [email protected]. We will make sure you’re not experiencing any issues while
withdrawing your funds.
We are incredibly grateful for the trust and support you have shown us throughout our journey. Your loyalty and understanding mean the world to us.
Sincerely,
Team Atlantis
Proposal to increase the interest rates on all supported stablecoins is now live.
An upcoming proposal set to be introduced this Saturday aims to raise the interest rate for stablecoins on the Atlantis BNB Chain. To take part in the voting process, ensure that you have staked your $ATL in the ATL vault.
https://twitter.com/atlantis_loans/status/1638914499422875648
📢 Proposal: Due to BUSD, USDC & USDT liquidity shortages on #AtlantisDogechain, we recommend a +10% interest rate hike. If approved, suppliers will enjoy higher APY while borrowers will pay max 40% interest on their loans. Vote now! 🗳️💰
https://twitter.com/atlantis_loans/status/1637819782077599748
In response to the high demand for stable coin borrowing, we have made the decision to implement borrowing limits for specific assets. These borrowing limits have been set as following:
On Atlantis BNB Chain:
BUSD: 80,000
USDT: 60,000
USDC: 10,000
DAI: 10,000
VAI: 100
On Atlantis Dogechain:
BUSD: 1
USDT: 1
USDC: 1
The borrowing limits have been carefully considered and are based on the risk exposure of each asset, as well as the necessary collateral requirements to cover outstanding loans.
Hey Community,
We would like to provide you with some updates from the Atlantis team.
1. Our team has made the decision to delist TRX, ZIL, and C98 from the Atlantis BNB market. A proposal to delist these assets will be created at the end of this week. In the meantime, we strongly advise users who have borrowed TRX, ZIL or C98, to begin repayment as soon as possible.
2. The current reserves on Dogechain will be utilized to increase the ATL liquidity pool on Quickswap. A proposal to withdraw from the reserves will be created at the end of this week.
3. In addition, we plan to use a 5k grant received from Dogechain to further increase the liquidity pool on Quickswap.
4. The daily ATL emissions on LP vault on Dogechain will gradually decrease, with the goal of encouraging more ATL LP providers on Yodaswap to move their liquidity to Quickswap. Our team believes that this concentrated liquidity pool on Quickswap will have a positive effect on the volatility of ATL price.
5. Finally, we are currently working on a new UI to assist Dogecoin holders on Robinhood (accounting for $4 billion worth of Dogecoin) in bridging their DOGE to Dogechain and lending it directly on Atlantis. This UI will significantly simplify the process of lending assets on Atlantis and for now it will be specifically designed for lending DOGE.
Let us know your thoughts and suggestions regarding the updates.
Hey Community, we are giving away 13 tickets for Polycon 2023. If you're interested, send a dm to @Jeremy1x1
Please like & retweet
https://twitter.com/DogechainFamily/status/1620856598104281093
Proposal #44 was successfully executed. 🥳
Suppliers of $BTC, $ETH, $BNB, $BUSD, $USDT and $USDC can now enjoy higher APR boost paid out in Atlantis Governance token $ATL.🤝
https://twitter.com/atlantis_loans/status/1616862543452033024
Hey frens,
Atlantis Dogechain Hub now lets you view the estimated APY (annual percentage yield) based on a daily compound of your $DC rewards. 🥳
https://twitter.com/atlantis_loans/status/1615651551502016513
Proposal #44 is up for voting on BNB chain. With this proposal Atlantis team wants to increase the daily amount of ATL distribution for BTC, ETH, BNB, BUSD, USDT and USDC.
The estimated boost in APR should be the following:
BTC - 0.67% APR
ETH - 0.86% APR
BN - 2.518% APR
BUSD - 2.55% APR
USDT - 3.59% APR
USDC - 5.58% APR
https://twitter.com/atlantis_loans/status/1615298601801973760
Atlantis is now officially listed on the Magic Store.
Please like and retweet
https://twitter.com/MagicSquareio/status/1612721173455945729
Hey Atlantis community,
We are participating in battle of the grants by Dogechain and would really appreciate for your support.
Please, comment, like and retweet the official tweet 👇 from Dogechain and our reply as well, so that we have a chance to win. 😊
We really appreciate your support. 🙏
[official tweet]
https://twitter.com/DogechainFamily/status/1608731783809630208
[our reply]
https://twitter.com/atlantis_loans/status/1609985897398771712
Atlantis Loans on #BNBChain is now officially using a combination of #Chainlink and @BinanceOracle
price feeds for the $BNB lending market. 🥳
This will ensure that $BNB price is always accurate and reliable, as it is based on a wider range of oracle sources.
https://twitter.com/atlantis_loans/status/1606673815223894019
Proposal to implement @BinanceOracle in Atlantis Loans is up for vote. 🗳️
By combining @BinanceOracle and #Chainlink, the price of $BNB on Atlantis can be ensured to be among the most fair and secure prices on all lending platforms.
Please, like & retweet:
https://twitter.com/atlantis_loans/status/1604843328188579841
Another integration with Stargate! 💠
Atlantis Loans has integrated Stargate to allow its users to easily 🤝 access its lending and borrowing markets across several different ⛓ chains.
https://twitter.com/StargateFinance/status/1603812828984807424
Exciting news! 🥳 Phase 2 of integrating
@StargateFinance into Atlantis Loans is complete, allowing Atlantis to offer a reliable, secure and low fee native asset bridge for our users' daily lending and borrowing needs.
like & retweet
https://twitter.com/atlantis_loans/status/1603773426283544581
Hi Community,
Tomorrow we’re planning to create a new proposal regarding the first phase of integration of Binance price oracle. To participate in voting, please make sure you’ve staked your ATL in the ATL Community vault and that you've enabled voting via the governance page by delegating your voting power to yourself or to someone else.
https://atlantis.loans/vote?chain=bnb&dapp=atlantis
Thank you!
Lending & borrowing with Atlantis opens up a world of possibilities - one of them being the ability to earn high APY with your $DC and $DOGE while unlocking liquidity without trading your tokens.
🎯Atlantis has no origination fees and no credit checks #PowerOfDecentralisation
https://twitter.com/atlantis_loans/status/1597887154491109377