About Altitude

1. Where is Altitude.fi incorporated?

The Altitude.fi protocol is operated by Altitude Protocol Inc, a company incorporated in Panama.

2. Who has invested in Altitude.fi so far?

We are backed by some of the most respected names in Web3.

In January 2024, we announced a $4 million investment from Tioga Capital, New Form Capital, GSR, G1, UDHC, Flow Ventures, Owl Ventures, Soft Holdings and Metavision alongside prominent angel investors, such as Marc Zeller of Aave.

This follows us closing a round of $2.1M in pre-seed funding from a group of over 50 strategic Web3 founders and builders in 2022, including (in alphabetical order):

Ahmed Al-Balaghi and Aniket Jindal (Biconomy), Ben Lakoff (Charged Particles), Ben Jones (Nuri), Benjamin Fielding and Harry Grieve (Gensyn), Danish Chaudhry (Paper Ventures), Diego Lijtmaer (Rumi Finance), Facu Ameal (Yearn Finance), Gavin Birch, James Parillo (Figment), Georgi Spasov, Nick Todorov (LimeChain), Graham Rodford (Archax), Ivo Georgiev (Ambire Wallet), Jan-Philip Grabs, Karl-Martin Ahrend (Web3 Studios), Kristaps Vaivods (Vorto Gaming), Luka Sucic, Valentin Mihov, Captain Nemo (Daedalus Collective), Marco Cora (zkSync), Mark Borsten, Tommy Quite (Merit Circle), Matt Aaron (Uniwhales), Nick Tong (Perpetual Protocol, Daedalus Collective), Nicolas Hourcard (QuestDB), Odera Ume-Ezeoke (Limbic Labs), Philip Gasslander, Dominik Thalmann, Kubi Mensah, Fabrizio Marincola (Gattaca), Ramsey Khoury (Vega Protocol), Raphaël Mazet (SimpleFi), Rupert Barksfield (Amulet), Sarthak Jain (Binance), Tayler Ward (Barnbridge, Universe XYZ, D64), Yoann Turpin (Wintermute).

And a number of prominent angels in the Web3 space: Batuhan Dasgin, Benedikt Schulz, Dermot O’Riordan, Evgeny Gokhberg, Fabian Wetekamp, Georgi Georgiev, Kay Meyer, Lyuben Belov, Winslow Strong, Xin Wang and many others.

For more information, read the full announcement here.

3. Is Altitude.fi working with any big DeFi players?

Yes. Aside from being collectively backed by the most respected names in DeFi, we have already fully integrated Aave, Compound, Convex Finance, Curve, Uniswap, Morpho, and others into our ecosystem.

We are working with many other well known DeFi players for full integration of Altitude.fi into their ecosystems, and we will share these updates with the community as and when they happen.

4. How does Altitude.fi earn revenue?

We earn revenue by charging a performance fee on yield delta.

Let's say funds are borrowed at 5% and deployed in a yield farm at 20%. That's a yield delta of 15%. Altitude.fi takes 25% of that. So Altitude.fi earns 3.75% whilst the depositor earns 11.25%.

5. Who are Altitude.fi’s competitors?

Altitude.fi is the only protocol on Ethereum that allows users to manage their debt positions collectively as a vault, through switching between lending providers and yield farms.

Combined with the support of our esteemed backers, including Aave, and completion of rigorous security audits, we have spent the last three years positioning ourselves to be able to service the needs of millions of users.

Join us on Discord to stay abreast of updates as we build the future of DeFI.

6. How important is community to Altitude.fi?

One of the core drivers of the Altitude.fi protocol is a belief in being community-owned. Many of the centralised elements of the protocol that exist today are mainly in place for safety & security and to catalyse growth.

7. How many people are in the Team?

Altitude.fi is the product of more than three years of consistent building in a bear market, and we have already grown the team to 7 core members; 6 of which are part of our tech team.

If you’d like to join us in building the future of DeFi, check out our live vacancies here.

8. Is the Team doxxed?

Yes, we have full confidence in our ability to deliver a great product and want our community to build trust in our team as they hit each milestone.

Altitude.fi was founded by Tobias van Amstel, Ronald van Spronsen, and Ivailo Jordanov. Tobias is a regular guest in our Discord server. Come and say hi!

9. What milestones have been hit so far by the Altitude Team?

In the last 3 years of the bear market, we have never stopped building. Some of our most notable milestones include:

2022

• Closed our first funding round of $2.1 million. Read the full announcement here.

• Launched the first version of our smart contracts (ETH-USDC vault) on Mainnet for testing purposes.

2023

• Secured a $15k grant from Aave to help fund the integration of Altitude.fi into their ecosystem, along with a second security audit (completed).

• Built integrations with Compound v3 and Aave v3, and support for wstETH.

• Addressed learnings from our deployment of the contracts on Mainnet, including:

• Making transaction manager for bots more robust;

• Development of a shared SDK for off-chain components (bots and dashboards); and

• Logging infrastructure.

• Completed the first security Audit of Altitude.fi’s smart contracts with Omega.

• Built the user interface for the first Vault (wstETH-USDC).

• Whitelist for the Closed Beta was launched to allow third parties to deposit into the Vault.

2024

• Announced our second funding round of $4 million. Read the full announcement here.

• Completed a second security Audit of Altitude.fi’s smart contracts with Oxorio.

• Launched Closed Beta to allow the community to begin deposit into the Vault while testing its user interface.

• Officially launched our first community Rewards Program.

10. Why did you choose Ethereum?

Ethereum hosts the most liquidity of all chains, with a large number of places to borrow and yield farm. We want Altitude.fi to be made available to as many people as possible as we believe it can improve the DeFi experience of millions.