Atlantis Loans: A Decentralized Money Market on Dogechain
If you are looking for a way to lend, borrow or stake your $DOGE and crypto assets across multiple blockchains, you might want to check out Atlantis Loans, a truly decentralized open-source DeFi money market that provides cross-chain solutions to lending/borrowing allowing users to collateralize assets to borrow or earn by supplying liquidity.
Atlantis Loans is an open-source, non-custodial liquidity protocol that supports 38 markets on Binance Smart Chain (BSC), Polygon, Avalanche, and Metis.
Users can supply and borrow various tokens such as USDT, USDC, WBTC, ETH, LINK, BNB, BUSD, AXS, and many more at variable interest rates based on market demand and supply. Users can also stake their ATL tokens (the native governance token of Atlantis Loans) to earn rewards and participate in the protocol’s governance.
Atlantis Loans on Dogechain
One of the unique features of Atlantis Loans is its Dogechain interface.
Dogechain is a fork of Ethereum that uses Dogecoin as its native currency. Dogechain aims to provide fast, cheap, and secure transactions for the Dogecoin community.
Atlantis Loans integrated with Dogechain to offer lending and borrowing services for DOGE and other ERC20 tokens on Dogechain.
By using Atlantis Loans on Dogechain, users can benefit from:
- Low Fees
Compared to Ethereum, Dogechain has much lower gas fees and faster confirmation times.
- High Returns
Users can earn high-interest rates by supplying or borrowing DOGE or other tokens on Atlantis Loans.
- Cross-Chain Liquidity
Users can access liquidity from other blockchains supported by Atlantis Loans through bridges or swaps.
- Security
Atlantis Loans uses battle-tested smart contracts forked from Compound Finance and audited by multiple security experts.
- Decentralization
Atlantis Loans is managed by a decentralized community of ATL/ATLX token holders who propose and vote on upgrades to the protocol.
Using Atlantis Loans on Dogechain
To use Atlantis Loans on Dogechain, you need to have a compatible wallet such as MetaMask, Coinbase Wallet, Bitkeep, and TrustWallet.
You can connect your wallet with Atlantis Loans through the app interface at https://atlantis.loans/dogechain/
Once connected, you can see your deposited and borrowed assets on the dashboard.
You can also view the market data such as supply and borrow rates, total value locked (TVL), and market distribution for each token.
To supply an asset to Atlantis Loans on Dogechain you need to:
- Select the token you want to supply from the drop-down menu.
- Enter the amount you want to deposit.
- Approve the transaction on your wallet and confirm it on the app interface.
- Once confirmed, you will start earning interest on your supplied asset.
To borrow an asset from Atlantis Loans on Dogechain, you need to:
- Have some collateral deposited in the protocol first.
- Select the token you want to borrow from the drop-down menu.
- Enter the amount you want to take out.
- Approve the transaction on your wallet and confirm it on the app interface.
- Once confirmed, you will start paying interest on your borrowed assets.
In borrowing, you should be aware of your collateral factor (the percentage of their collateral value that can be borrowed) and liquidation threshold (the minimum collateral ratio required to avoid liquidation) for each token pair.
You can view these parameters on the app interface or at https://atlantis.loans/dashboard/.
If your collateral ratio falls below the liquidation threshold due to market fluctuations or interest accruals, your collateral may be liquidated by liquidators who repay your debt in exchange for a discount.
You can also use Atlantis Loans’ notification service which keeps you updated about your current deposits and borrowed assets via email or Telegram. This is one of the most important tools to avoid getting liquidated.
Atlantis Loans is one of the most innovative DeFi protocols that offers cross-chain solutions for lending/borrowing with low fees, high returns, and security.
By integrating with Dogechain, Atlantis Loans provides a unique opportunity for DOGE holders and enthusiasts who want to leverage their crypto assets in a decentralized way.
If you are interested in learning more about Atlantis Loans or trying it out yourself:
📡https://t.me/atlantisloansofficial
🕊️https://twitter.com/atlantisloans
About Dogechain
Dogechain is a Layer 1 blockchain that leverages the Polygon Edge framework to become a stand-alone EVM-compatible chain. It was created to bring utility to Dogecoin ($DOGE) by enabling it to be wrapped by a smart contract and bridged to the chain where it can be used to engage in different Web3 and DeFi use cases.
Dogechain is popularly called the “memechain” and it is a community-first ecosystem for $DOGE believers and holders created by Dogecoin enthusiasts who believed that $DOGE can do more than just be held.
Connect and stay updated with the latest news and updates of Dogechain Family by joining its social sites:
Website: https://dogechain.dog/
Twitter: https://twitter.com/dogechainfamily
Telegram: https://t.me/DogeChainOfficial
Discord: https://discord.com/invite/A9yYfwNq8z
