Breaking: Altair — Now a Parachain on Kusama Network

Altair by Centrifuge won the recent Parachain Slot Auction from Polkadot and Kusama networks. This is a remarkable feat for Altair and even its supporters are rejoicing on Twitter.

In detail, Centrifuge built Altair to finance RWA (real-world assets) on the Centrifuge Chain. More so, it is an experimental network for users who want to test asset financing. In addition, Altair allows users to tokenize their assets and finance them.

As the winning network, it is now one of the first parachains to live on Kusama. Reports say that it will bridge across the Ethereum, Polkadot, and Kusama’s ecosystems, to increase easy access to financing. With that said, experts are also saying that Altair might help connect more projects across these ecosystems in the future. Because of this, a greater flow of liquidity will be possible when more chains, protocols, and dApps are connected.

On the other hand, Kusama will allow Altair to have faster and daring parameters. This will also enable Altair to have rapid progress and growth.

Citing from a report, Altair users can now tokenize their assets and use them as collateral for financing through Tinlake — Centrifuge’s asset-backed lending dApp. What’s more, Altair will further connect users to the DeFi ecosystem on Kusama and allow them to borrow from other protocols. Afterwards, the native token of Altair, AIR, will also be delegated to Kusama.