UniLend Unifies: A single DeFi protocol that combines spot trading and money markets
Decentralization ought to mean diversity, and an ecosystem which avoids traditional barriers and gatekeepers to access. But let’s get real: All too often what happens is that the DeFi platforms themselves become the new restrictions to projects, deciding who gets to be a part of their pool. And then lenders have to suck up all the risk associated with multi-asset pools, where they have no control over what exactly collateralizes their funds when they’re lent — like we’ve still not learned that lesson from the old-school financial world…
UniLend fixes this dilemma by combining trading and lending/borrowing services, in a single permissionless and decentralized protocol. Driven entirely through smart contracts, UniLend offers comprehensive support for a huge range of digital assets. Any ERC20 project can participate without any authorization or regulation, so it’s genuinely open to all — just go ahead and list your token, then you can unlock it for lending and borrowing right away. Instead of the limited range of coins supported by typical lending and borrowing platforms, you can use your own asset to collateralize any deal you can create.
Growing your project? Not a problem, as a pair will also operate on the platform for decentralized spot trading, and through the liquidity you’re providing to the platform with your assets, you’re also going to get staking fees back. Nice.
Of course you can yield farm the native UFT tokens too, if you want to add liquidity and lend to/borrow from selected pools, and you’re going to want to use that token for trading as well — because who wants to pay ETH gas and fees? The token is governed by its holders to ensure consensus on any future adjustments, as the protocol is continually refined and improved to meet the changing needs of the space over time. The team behind it are experienced, creative, and committed to continual development.
So UniLend feels like a vital missing piece of the DeFi jigsaw, connecting the disjointed elements through a single protocol, powered by a single token, and providing a broad range of asset management capabilities in one product. And it goes beyond typical digital assets too, supporting synthetic real-world assets like tech stocks and commodities like precious metals. All you need, to operate entirely in the decentralized economy of the future.
A major recent milestone has been going live on the Ethereum mainnet. So, you can add your UFT tokens right within Metamask (or a range of other popular wallets supported), and you can lend/stake and redeem, right on the network you trust and through familiar tools — in fact you can even airdrop or distribute your own tokens to UniLend pools. The experience of the design team shows in a slick UI, designed to be accessible and user-friendly — removing friction from both the trading and the lending/borrowing experience — a powerful indicator that the UniLend team genuinely walk their talk when it comes to inclusion as a philosophy. So many crypto people are yet to even dabble in DeFi, and while HODLing rocks, the big wins are out there to be had in the staking space. We need more users to get on board, so this is part of that unstoppable building of momentum for DeFi as a movement.
So let’s celebrate a serious move in the right direction, and UniLend’s switch to the mainnet is confirmation that they’re ready for prime-time and moving out of the test phase right on target for their public roadmap.
This is not just our opinion. Binance signalled support for the UFT token in February by listing it in their Innovation Zone, and the first UniLend permissionless flash loan has already taken place — a $403.936 loan (150k UFT) for a cost of only $201. That’s because the fees on UniLend are so low — only 0.05%, compared with Aave at 0.09%, not to mention higher gas fees.
Permissionless flash loans like this are surely the future, because they’re so much more cost-efficient than anything else on the market, old or new. It supports the whole decentralized ecosystem, by offering affordable options for traders to experiment with advanced strategies, and co-create the very future of the DeFi paradigm. This will attract the attention of new sophisticated traders from varied backgrounds, who will all bring new potential, not just to UniLend but to the space as a whole.
So as the traditional financial markets flounder in chaos, DeFi is on the up, and UniLend is a powerful tool to unlock their full potential. Whatever your token, idea, or unique trading strategy, here’s the platform you’ve been looking for to deliver it, and leverage the potential behind the most exciting thing to happen in money this century.
Telegram chat: https://t.me/UniLendFinance
Telegram Announcements: https://t.me/UniLendAnnouncement