UniLend.Finace is a permission-less DeFi protocol that combines spot trading services and lending/borrowing functionality within the same platform. Whereas other DeFi protocols support only ~30 assets, anyone can list any ERC20 asset on UniLend for decentralized trading and lending/borrowing.
UniLend’s mission is to open the DeFi space up to the $29B of ERC20 tokens which are currently excluded from DeFi, hence their motto ‘unlocking the true potential of decentralised finance’. UniLend price today is $2.93 USD with a 24-hour trading volume of $6,257,411 USD. UniLend is down 8.96% in the last 24 hours. The current CoinMarketCap ranking is #545, with a live market cap of $42,980,030 USD. It has a circulating supply of 14,684,300 UFT coins and a max. supply of 100,000,000 UFT coins.
UniLend.Finace Any ERC20 token will be able to list without any entity controlling the listing process, making UniLend’s features accessible to every token
Lending & borrowing
UniLend.Finace Users have the capability to unlock their token’s functionality for lending to receive an interest rate and for borrowing by paying an interest rate.
UniLend.Finace corresponding trading pair will also operate on UniLend’s platform to include decentralized spot trading functionality for platform users.
UniLend.Finace protocol will be governed by its token holders through proposals in order to ensure adjustments to the protocol are made with a majority consensus.
UniLend.Finace providing liquidity for asset trading and loans on Unilend’s platform, users are able to receive fees in proportion to their liquidity pool stake.
Native Utility Token
UniLend.Finace native utility token of UniLend will be UFT, Unilend Finance Token. The token will have multiple use cases for governance, platform utility, and much more.
UniLend.Finace existing DeFi platforms act as a gatekeeper in allowing which projects to be a part of the their pool; thereby barring the majority of assets from participation in the DeFi ecosystem. Multi-asset pools also expose lenders to risk associated with all of the included assets with no control over the collaterals against which their funds can be lent.UniLend is a permission-less decentralized protocol that combines spot trading services and money markets with lending and borrowing services through smart contracts.
How is UniLend different to other DeFi protocols?
UniLend.Finace Existing DeFi solutions have left the majority of digital assets outside of the DeFi ecosystem. There are over 6000 tokens listed on coinmarketcap. However, other DeFi protocols support less than 30 assets. Some protocols offer lending and borrowing with a limited set of tokens while others offer the freedom to trade any ERC20 assets but neglect the lending and borrowing aspect.
UniLend is bridging that gap by combining the decentralization aspect of enabling any ERC20 to be utilized as collateral for lending & borrowing whilst providing the flexibility for users to also trade their assets in-platform. Ultimately, UniLend aims to unlock the full potential of digital assets for their owners.
What is the purpose of UniLend’s native UFT token?
UniLend.Finace UFT token is primarily used to facilitate governance of the UniLend protocol. A number of factors relating to the proper functioning of the protocol, will be decided by UFT holders via proposals which require majority consensus to be implemented.
Liquidity providers are a key component in ensuring the sustainability of a decentralized finance protocol by facilitating liquidity within the protocol. They will therefore be rewarded with UFT tokens via liquidity mining, in addition to a percentage of trading and borrowing fees.
Platform users who use UniLend for lending, borrowing or trading will be rewarded with governance power in the form of UFT tokens to encourage not only use of the platform’s services, but also to facilitate distributed governance.
UniLend.Finace Anyone! The beauty of permissionless protocols is that anybody with an Ethereum wallet can take part. UniLend takes this a step further by enabling anyone to list any Ethereum-based asset (ERC20 token) on the platform. An asset listing on UniLend protocol’s smart contract instantly creates and lists on markets for lending, borrowing, and spot trading – opening up the DeFi capabilities of the asset in question for the crypto community worldwide. they believe the next evolution in DeFi is the inclusion of not only any participant, but the inclusion of any asset which platform users wish to utilize for DeFi.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.