Atlantis Loans (ATL)

I am sure many of you may have seen this notice.

It is a shame that will be closing as I have greatly enjoyed using the app… when one door closes another opens.

What are your thoughts on Atlantis Loans?

I think it could be worth a shot but will need to do some more due diligence.

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Atlantis Loans is parasitism.

They just want to copy Venus, like a awkwardly plagiarist, same UI and same parameter…same man…

Ahother shitcoin.

Not sure we can call plagiarism a man who copies himself…
And Venus is itself a clone of Compound, so no harm here. But I wouldn’t bet on the coin too, on this, I agree.
Note they have partnered with Acryptos, the first Vault based on Venus back in 2020. Atlantis is definitively a second Venus… with no VAI

haha…Ahother shitcoin…

Did we really need so many same things and shitcoins in one chain?

Everybody wants to be part of the success…
I guess when Venus discovered this Mike guy, who received many free XVS as a reward for his alternative (and overall better) Venus dApp, created a competitor platform, so they somehow got upset and demanded him to stop working with Venus.

Agreed he made the app for Venus then took his code with him, no harm in that.

If he can create better features before Venus like the Vault and a Dex then, the project could do ok. Healthy competition should be seen as a positive, might give venus the kick up the arse it needs, as I haven’t seen a weekly update in a while.

They already have a Vault for ATL including the liquidation fee that goes to the treasury.

Also the Venus shorfall recovery has not been going well lately… Because of the price increase in BTC, the shortfall is now 130 000 000 $ (see this address DeBank | DeFi Wallet for Ethereum Users). That’s a lot of XVS to sell to cover the shortfall…


From what I can see they haven’t been doing any liquidations in over 30 days, on this address. Every dip should be used to buy more and they should have a daily average happening.

Venus has a treasury not sure what they are using it for…

I like the look of ATL they are doing buyback and burn which is a good feature. Venus have spoken about doing 1 but we have had no weekly update for a few weeks now.

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Binance had paid 400M just to get CoinMarketCap, they could be ready to bet 130M to salvage Venus, the one biggest dApp on the BSC.

This is very true, unless they are bearish on BTC, they should either dip-buy or continuously buy, not simply wait things get worse.

Binance will not spend 130M for Venus. If they did, it would mean that they would admit that they have some control or liability towards the project, which goes against the official lines that it is independent and decentralized.

Moreover, if it was recognized as a Binance-own project, Binance could face regulatory enforcement, just like coinbase with their crypto loan feature in the US.

There is no way that Binance will take that risk, plus lose 130M$ over a project that probably does not bring them any revenue at all.

I partly agree, but Binance does have a crypto lending arm and uses Venus quite overtly to do so.

I think Binance want’s to conceal their hand, Venus does bring Binance revenue as you can see from their DeFi staking page

After Pancake swap it is the biggest project on Binance chain, which makes me wonder why there is still no Venus Dex, all liquidations should be dealt with in house if possible.

Binance is also helping liquidate XVS through their OTC desk.

Liquidation should not be restricted to an in-house bot. This introduces significant single-point-of-failure risk. In time of high market stress, many bots will fail or crash and it is important to have as much bot as possible operating independently.

Some projects like Alpaca Finance switched to in-house bots only and blacklisted all external bots (their in-house bot was not competitive AKA it sucked, so they killed the competition instead). This is a disaster in the making.

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That is a good point my point was more that Venus should have it’s own DEX and they should be scooping up trading fees in the liquidation.

The most important thing is liquidations happen and freeing this up to as many actors as possible lessens the risk like you so rightly state!

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