Announcing Altair: Centrifuge’s Kusama Parachain

Push the limits of financing your assets on Kusama.

Cassidy
Cassidy
May 20 · 4 min read

Centrifuge is excited to introduce the world to Altair — the home for financing assets on Kusama. Built for risk-takers and innovators who dare to push the limits of DeFi: powered by the AIR token

Take Your Assets Interstellar 💫 with Altair.

Altair is built using Substrate, and will have nearly the same codebase as Centrifuge Chain (just like Kusama is to Polkadot!). It is an experimental network for users who want to test the bounds of asset financing. From art NFTs to undiscovered assets — Altair enables users to tokenize their most experimental assets and finance them. It is the next step for anyone looking to unlock financing for their assets.

Interoperability is the key to increasing liquidity in DeFi. Altair will bridge across the Kusama, Polkadot, and Ethereum ecosystems to allow assets to access financing wherever it is available. In the future, Altair can connect more and more projects across these ecosystems — using Kusama to allow anyone to access DeFi liquidity. The more connected chains, protocols, and Dapps are — the greater the flow of liquidity will be.

Altair plans to be one of the first parachains live on Kusama. To show interest in participating in our crowdloan 👉 sign up here! 👈

Altair + Kusama = Rapid Progress 🚀

Using Altair, anyone can tokenize their assets and use them as collateral to access financing through Tinlake, our asset-backed lending Dapp. Users originate individual non-fungible assets used as collateral for loans, and Altair connects users to the DeFi ecosystem on Kusama and enables borrowing from many other protocols.

Altair is built by Centrifuge, and owned and governed by the community from day 1* of launch.

*Altair will launch as an empty Shell on Kusama (read more by Gavin Wood on that here), and a runtime upgrade will be performed shortly after to then enable accounts, balances, and governance, and more.

The AIR Token 🦅

The AIR token powers Altair with the utility to:

  • Govern the development of Altair
  • Pay for transaction fees
  • Secure the chain
  • Reward adoption

Token Distribution

*Sections in yellow are undistributed and are subject to change

A percentage of all transaction fees will be burned. Long-term, this burning mechanism will serve to stabilize the token supply.

AIR tokens will be minted over time to incentivize chain security: through rewards to crowdloan participants on Kusama as well as to collators and nominators on Altair. Tokens are also minted and rewarded to Tinlake participants in order to incentivize adoption.

The Altair Crowdloan

AIR Rewards

25% of the reward will be unlocked, while the remaining amount will be distributed to crowdloan participants over the length of the parachain slot.

KSM holders will have the option to participate directly through the crowdloan hosted by Altair — or by participating through another platform(s) (TBA!).

We will announce more details regarding our timeline soon. Stay tuned! To show interest in participating in our crowdloan — sign up here!

Ready to take Flight

Push the limits of your KSM with Altair 💫

No Limits.

Centrifuge

Centrifuge has the highest TVL in the Polkadot ecosystem — and will be among the first to launch a Parachain on Polkadot. Centrifuge chain is built on Polkadot for speed and low fees, while its financing Dapp, Tinlake, is built to access the massive liquidity on Ethereum. The native token CFG has its own bridge to Ethereum.

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Centrifuge

Decentralized Asset Financing

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