September 11, 2024
The ALTI Early Rewards Program is now open for public access!
This is your chance to get hold of ALTI, the governance token of Altitude.fi, and take part in the first stage of the protocol’s decentralisation.
To start accumulating ALTI tokens, you simply deposit wstETH into the protocol’s Vault.
Read on to find out more about the event and, if you’re new to Altitude.fi, discover why this protocol is such an exciting and important part of the DeFi ecosystem.
What is Altitude.fi?
Altitude.fi is designed to solve the problem of capital inefficiency in collateralised DeFi loans.
By automatically accessing some of the best lending rates for your loan and generating a yield on the dormant capital within your loan’s collateral, Altitude.fi helps enable you to achieve greater capital efficiency for your DeFi loans with a self-repayment mechanism.
So, if you’re a crypto-native investor who wants to maximise your on-chain capital, Altitude.fi is the protocol designed to automatically optimise your portfolio.
The ALTI Token
The ALTI token is a governance token that will, in the future, be used to make important decisions about the protocol’s direction.
One of the core drivers of the Altitude.fi protocol is a belief in being community-owned. This is why many of the centralised elements of the protocol that exist today are only in place for safety and security.
We believe that community governance is the future, and a core focus for us is on implementing a strategy that maximises the capabilities of ALTI.
The Early Rewards Program
The Early Rewards Program is the mechanism for distributing 5% of the ALTI token supply to protocol users until 1 September 2025. In total, that’s 50,000,000 ALTI tokens going straight to the early adopters who help scale the protocol.
The Closed Beta
The Early Rewards Program coincides with the protocol’s Closed Beta, which takes place before the protocol is released to the public.
While our smart contracts have been audited by two security firms, this Closed Beta allows us to test the user interface and ensure everything is ready for full public access.
During the Closed Beta, protocol deposits are capped. Currently, protocol deposits are capped at 60 wstETH per wallet, with a minimum of 1 per wallet, and the total Vault cap is 600 wstETH.
The cap will continue to increase periodically throughout the course of the program, and the number of tokens available per day will too, allowing more community members to participate.
How Tokens are Accumulated
To accumulate ALTI tokens, users must deposit wstETH into the protocol Vault. Then, they will start accruing tokens and be able to track how much ALTI they have accumulated. Here’s a simplified explanation of how many tokens a depositor will accumulate:
Alex deposits 52 wstETH into the Vault and wants to know how many tokens he will receive on a specific day. On that day, the total supply in the Vault was 520 wstETH, so Alex’s deposits represent 10% of the total. Initially, there were 40,000 ALTI tokens distributed per day, so Alex will have accumulated 4,000 ALTI tokens during that day.
Join the Closed Beta
To join the Closed Beta, please head to our Discord server to get Whitelisted.
Stay Connected
We will keep updating you with important developments through our social channels, as they occur. If you want to be the first to know what’s happening, stay connected via the links below.
Join Altitude.fi’s Discord community
Also, don’t forget to support us on Medium by clicking the ‘follow’ button at the top of this article.
Finally, if you experience any issues when joining the Whitelist or interacting with the protocol, please ask your questions in the #support-ticket channel of the Discord server where our team will be notified and respond to you as soon as possible.
For more detailed information about the Early Rewards Program, please visit our FAQ.
Disclaimer: This Early Rewards Program is not directed at retail clients, it is directed only at sophisticated investors. Dealing in crypto assets is high risk, and all capital used to participate is at risk of being lost.
The Early Rewards Program is not available to persons in the USA, China, or other restricted territories.
In the UK, the Early Rewards Program is directed only at persons who fall within an exemption to the restriction on financial promotions as set out in the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, such as investment professionals (Article 19); high net worth companies, unincorporated associations etc (Article 49); and sophisticated investors (Article 50).
Altitude.fi is an experimental protocol and you may lose all of your assets due to one of many reasons such as a bug, hack, or an exploit.