Altitude

Altitude is a decentralized finance (DeFi) protocol operating on the LayerZero network, which launched in the first quarter of 2023. The platform addresses the challenge of fragmented liquidity across different blockchain networks by enabling seamless cross-chain transfers of assets. It functions as a composable native asset bridge, allowing users to transfer cryptocurrencies like USDC, USDT, and ETH between various chains, starting with integrations for BNB Chain, Arbitrum, Polygon, Avalanche, Fantom, and Metis. The protocol's architecture is designed to provide users with a simple interface for these transactions, aiming to unify the DeFi ecosystem.

The core of Altitude's service is its bridging mechanism, which relies on liquidity pools. Users looking to transfer an asset from one chain to another deposit their tokens into a pool on the source chain and then withdraw the equivalent tokens from a pool on the destination chain. This process is facilitated by Stargate's audited and battle-tested smart contracts, ensuring a degree of security and reliability for the transactions. The system utilizes a delta algorithm to rebalance liquidity across the supported networks, which helps maintain the solvency of the pools. Revenue for the protocol and its liquidity providers is generated through fees charged on these cross-chain swaps. Altitude's native token, ALTD, plays a role in its ecosystem, with plans for a public sale and airdrop to early users and community members to foster engagement and governance.

Keywords: DeFi, cross-chain bridge, LayerZero, asset transfer, liquidity pools, interoperability, blockchain, cryptocurrency, decentralized finance, token swapping