What is AIR

Understanding Altair: The Future of Asset Financing in Web3

Introduction

As the world of cryptocurrency and blockchain technology continues to evolve, new projects emerge that aim to harness the power of decentralisation and redefine traditional notions of finance. One such project is Altair, designed to offer an experimental network for the tokenisation and financing of real-world assets (RWA). With a focus on interoperability and cutting-edge infrastructure, Altair is poised to make significant strides in the realm of Web3.

What is Altair?

At its core, Altair is a Web3 and crypto project that empowers users to tokenise and finance a diverse array of assets. Built upon a robust framework using Substrate, Altair shares a similar codebase with its counterpart, Centrifuge Chain. The project’s primary aim is to facilitate the financing of experimental assets—ranging from art and Non-Fungible Tokens (NFTs) to unconventional holdings—and to enhance liquidity in the decentralised finance (DeFi) space.

A notable aspect of Altair is its emphasis on interoperability. The project is designed to bridge various ecosystems, specifically those of Kusama, Polkadot, and Ethereum. This strategic interoperability ensures that assets can tap into financing options, enabling users to access the most streamlined and effective financial solutions irrespective of the underlying platform.

Creator of Altair

The precise identity of the creator behind Altair is not distinctly documented in publicly available information. However, it is closely associated with Centrifuge, a project known for its innovative approach to financing real-world assets. This association suggests that the team behind Centrifuge may play a pivotal role in the development and operational oversight of Altair, contributing their expertise to ensure that the project achieves its set objectives.

Investors of Altair

In terms of financial backing, Altair has taken an innovative route by engaging in crowdloans and structure-based token launches. Through these channels, the project successfully completed a Token Generation Event (TGE), during which it raised a noteworthy sum of $4.68 million across three distinct rounds of funding. While specific names of investment foundations or organisations supporting Altair remain undisclosed, the project’s significant fundraising achievements indicate that it has garnered a favourable response from the investment community.

How Altair Works

Altair’s operational mechanics revolve around its capability to create an experimental network for users wishing to tokenise and finance a wide variety of assets. The essence of the project lies in its technological foundation laid by Centrifuge. By capitalising on this advanced infrastructure, Altair aims to address a critical gap in the DeFi landscape—enhancing liquidity by enabling users to access financing through interconnected ecosystems.

The tokenisation process within Altair allows for the creation of diverse digital representations of physical assets, making it easier for users to manage, transfer, and finance these holdings. This not only simplifies asset management but also opens up new avenues for financing options, allowing users to secure liquidity against their tokenised assets.

Timeline of Altair

The developmental journey of Altair showcases its evolution from concept to a fully operational project. Here is a timeline of significant milestones in Altair’s history:

• March 19, 2018: Activity initiated on Altair's GitHub, marking the official start of the project’s development journey.
• April 16, 2018: Altair established its presence on X (formerly Twitter), enabling the project to communicate and engage with its growing community.
• September 4, 2021 - August 8, 2022: The leasing period for Altair on the Kusama network took place, providing valuable insights into real-world asset financing within a test environment.
• February 9, 2022: The Token Generation Event (TGE) concluded, marking a pivotal moment in Altair's fundraising and community engagement efforts.

Key Features of Altair

The features of Altair underscore its commitment to innovate within the asset financing landscape. Some of its key features include:

• Experimental Network: Provides a secure environment for users to explore and test the boundaries of asset financing, paving the way for potential breakthroughs in the industry.
• Interoperability: Efforts to create bridges across Kusama, Polkadot, and Ethereum ecosystems empower users to maximise their financing options.
• Tokenisation: Facilitates the tokenisation of various assets, allowing for fractional ownership and easier asset transfer processes.
• Financing Options: By connecting assets with available financing solutions, Altair promotes enhanced liquidity and accessibility.

Social and Community Involvement

Community engagement plays a crucial role in the success of blockchain projects, and Altair demonstrates a significant presence across social platforms. With over 76,702 followers on X (formerly Twitter) and a substantial number of tweets (3,591), the project actively communicates updates and engages with its community.

In addition, Altair boasts a vibrant Telegram group consisting of 11,536 community members, emphasising its grassroots support. Moreover, the project has an impressive 143 public repositories listed on GitHub, showcasing the transparency and collaborative spirit inherent to blockchain development.

On the website front, Altair witnesses over 3,270 monthly organic visitors, indicating a keen interest from users looking to learn more about its innovations and offerings.

Conclusion

With its ambitious goals and robust technological foundation, Altair stands at the forefront of the evolving crypto landscape. By focusing on the tokenisation of real-world assets and bridging various ecosystems, Altair is set to offer unprecedented financing opportunities and real-world applications within the DeFi space. As interest in Web3 and decentralised technologies continues to grow, the importance of projects like Altair will only become more pronounced, providing novel solutions for asset financing and ushering in a new era of financial innovation.