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Dear Alfprotocol community,
After a lot of development and hard work, we’re finally happy to announce that the MVP version of the Allotment ALF protocol is now ready! Everyone can start experimenting and using the protocol, keep in mind that this is an MVP release that may contain some bugs. We would be happy if you could submit bugs to info@alfprotocol.com to fix them faster!
Visit Allotment ALF MVP: app.alfprotocol.com
What is Allotment ALF?
Allotment ALF is a lending & borrowing protocol that supports multi assets collateral. Inside the protocol, you can supply the liquidity and borrow against your deposited collateral in any supported currency.
Allotment ALF dashboard
Here on the protocol, you can see your personal Supply balance (how much you deposited) and your Borrow balance (how much you borrowed). Below you will see your Loan to value %, which indicates how much of your borrowing limit you already used. At the end of the Loan to value line, you’ll see your maximum borrowing limit.
Supply & Borrow markets
Scrolling a little bit down, you will find two essential boxes. Supply markets & Borrow markets.
Supply Markets will show assets that are supported by the protocol for deposits. You can sort the list by the Pool, APY %, and Deposit (shows deposited assets first). When you deposit some assets, your deposit will start earning APY. Keep in mind that the APY % is dynamic and changes accordingly to the utilization rate of the pool. (More detailed explanations will be found in the documentation of the protocol)
Borrow Markets will show the same assets that are supported for borrowing. The important aspect here is the fact that you can deposit different assets to the protocol, and borrow different assets as well. (If you deposited USDC, you can borrow SOL, mSOL, etc.) By clicking on the Borrow button, you will see the maximum borrowing limit of that asset.
We’re preparing detailed documentation of the protocol with all explanations in video and text format for your easier education on how to use the protocol! The documentation will be available soon!
Important information:
The current borrowing limit is set to 40% of your initial deposit. Meaning that if you deposit let’s say 10,000 USDC, your maximum borrowing limit will be 4000 USDC (or equivalent in supported assets). This number will increase at the later stage of the protocol when higher TVL is achieved and safety features are fully established.
The protocol is constantly updated with new features and bug fixes so if at any given time you notice something is not working, please let us know, and rest assured that the team is working on the protocol and the issue!
Stay tuned for more information!
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.