Alternity Protocol Project Introduction, Team, Financing and News_RootData

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Aug 19, 2023

Alternity Protocol is live on mainnet

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Details

Alternity Protocol is a decentralized lending protocol on Ethereum, inspired by Liquity's design, offering LCNY, a stablecoin pegged to the Chinese Yuan (CNY). Users can open a Trove (collateralized debt position) by depositing ETH as collateral and borrow LCNY at a minimum collateral ratio of 110%, enabling CNY-denominated debt. The protocol uses a Stability Pool to liquidate undercollateralized positions and a redemption mechanism to maintain LCNY's soft peg to CNY. The native token ALTR captures system fees (e.g., redemption and borrowing fees), which holders can stake to share in revenue. The protocol is governance-free, non-upgradable, and fully automated via smart contracts, with all operations conducted in a non-custodial, on-chain manner.

Tags:

DeFi Lending

Ecosystem(1):

Ethereum

Founded:

2023

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