Last month, we made an article introducing UniLend Finance project to all the readers. Today, we have another update from the team about the future roadmap for the project. Unilend aims to provide industry’s first comprehensive, permissionless DeFi Protocol and it’s a big task.
In order to achieve that goal, Unilend has introduced a roadmap for the community to keep track of the progress on the mission to unlock true potential of DeFi. You can find the full roadmap here.
UniLend is an unique protocol which has been designed to combat the current problems of the DeFi space, multiple inherent challenges have been identified during the phase and the UniLend team has been constantly exploring ways to optimally overcome these complications in Q3 of 2020.
UniLend’s trading pool will provide liquidity needed to support lending and borrowing; this will filter out illiquid assets and provide the liquidity needed to support lending functionality.
Tasks Completed so Far !
UniLend Swap Feature
The UniLend Swap feature consists of an automated market making pool which removes the need for centralized components and maintains the liquidity needed to enable trading along with lending and borrowing all in a decentralised manner.
UniLend Lending Smart Contract
UniLend’s lending smart contract works differently to existing lending protocols, hence it needed a complete custom development which was completed in Q3 of 2020.
As opposed to a multi asset pool system currently being utilised by existing DeFi protocols, UniLend protocol consists of separate pools for different assets (multi-pool system). Creating separate pools for each token was an essential architecture level advancement that opens up UniLend for permissionless DeFi options whilst limiting exposure of lenders and borrowers to any potential risks associated with all tokens in a specific pool.
• Conceptualisation and Architecture Ideation – Completed
• Swap Feature Development – Completed
• Lending Smart Contract Development – Completed
• Integrating Swap with Lend Component – In Progress
• UniLend Alpha Release
• Bug Bounty Program
• Liquidity Mining/Staking
• Protocol Optimization
• UniLend Beta Release
• Comprehensive Audit
• UniLend Mainnet Launch
• Integrations & UniLend Ecosystem Expansion
• Fusion Farming
• Community Governance Launch
• UniLend Ecosystem Fund
• Launch on Multiple Chains
• Layer 2 Scaling Implementation
• Meta Transactions
We will keep writing articles on each of this new terms over next few months and keep you updated on the upcoming announcements.
Get Notified by subscribing to our newsletter !