Altitude Surpasses $10 Million in TVL One Month After Launch

Altitude, a decentralized finance (DeFi) lending platform, has achieved a significant milestone by surpassing $10 million in total value locked (TVL) in deposits. This accomplishment was reached within a month of its public launch, following a successful private beta phase that concluded in mid-June. The rapid growth in deposits, which have doubled to $10 million, is attributed to retail users seeking to optimize their crypto collateral to maximize borrowed capital safely.

Altitude's protocol is designed to enhance onchain borrowing by improving capital efficiency and safeguarding loans against under-collateralization. The platform automatically rebalances borrowing based on fluctuations in the price of collateral such as Bitcoin (BTC) and Ethereum (ETH), ensuring optimal loan-to-value (LTV) ratios. Its user-friendly dashboard displays loan health tied to LTV and allows users to fine-tune parameters effortlessly.

Traditional onchain lending protocols often suffer from inefficiencies, with typical DeFi borrowers maintaining LTVs of 30-40%, leaving up to half of all capital unused. Altitude's growing user base has embraced its ability to maximize capital efficiency and simplify borrowing complexities, enabling users to prioritize yield generation and explore diverse DeFi opportunities. When collateral values rise, Altitude leverages the increase to borrow additional funds, channeling them into yield-generating strategies that help reduce the loan balance. Conversely, if collateral values drop, Altitude reallocates funds to the lending pool to maintain an ideal LTV. The protocol also dynamically adjusts positions to secure the most competitive lending rates, ensuring cost-effective financing for users.

Altitude has received strong support from prominent web3 venture capital firms, including Tioga Capital, New Form Capital, and GSR, which have collectively invested $6.1 million in the platform. Investors have been impressed by Altitude's innovative approach, which offers DeFi borrowers both peace of mind and the opportunity to safely maximize yields.

The achievement of $10 million in BTC and ETH deposits within weeks of the public launch validates Altitude’s vision of making DeFi more user-friendly and capital efficient. By addressing market inefficiencies and providing a superior user interface and experience, Altitude is helping to accelerate the mainstream adoption of decentralized finance. Altitude is a decentralized protocol on Ethereum that optimizes collateralized lending, ensuring both the lowest possible cost of borrowing as well as generating yield from users’ dormant collateral. By actively managing debt and collateral in real-time, Altitude optimizes capital efficiency.