UniLend is a permission-less decentralised protocol that combines spot trading and money markets with lending services through Smart Contracts. The existing DeFi platforms have shown a huge demand for decentralised trading with over 6000 tokens currently listed in CoinMarketCap. However, the current DeFi platforms such as Compound, Aave, Market DAO support less than 30 assets.
This leads to a huge demand for a protocol that supports a wide number of assets in a decentralized and permission less way. UniLend is designed to address this untapped market and fuel the blockchain ecosystem by opening up the DeFi Space for all tokens.
Benefits of using UniLend.
- The Current DeFi Platforms act as Gatekeepers by deciding which assets would be allowed to be a part of their pool. This stops majority of the DeFi Tokens from being a part of this ecosystem. This untapped Ethereum based market has a market capitalisation of $16.7B as compared to $16.58B of the existing supported place in DeFi.
- Even Multi Asset Pools also expose lenders to all kinds of risks associated with the included assets, with no collateral against which their funds can be lent. Using UniLend, any ERC20 token will be able to list without any entity controlling the listing process, making UniLend’s features accessible to every token.
- The 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. Some tokens offer limited lending and borrowing with a limited set of tokens such as ( Maker DAO and Aave ). While others offer the freedom to trade any ERC20 token but neglect the lending and borrowing aspect. UniLend bridges that gap by offering all these services.
- By providing liquidity for asset trading and loans on Unilend’s platform, users are able to receive fees in proportion to their liquidity pool stake.
- The protocol will be governed by its token holders through proposals in order to ensure adjustments to the protocol are made with a majority consensus.
- A corresponding trading pair will also operate on UniLend’s platform to include decentralized spot trading functionality for platform users.
UniLend solves the problems of fragmentation and limited functionality by supporting and offering comprehensive functionality for a vast range of digital assets, including:
Permission-less listing: Any ERC20 token is able to be listed without a centralised entity/ DAO controlling the process and we’re also exploring the addition of cross-chain support in the future such as Binance Chain, Monero, etc..
Lending & borrowing: Users have the capability to unlock their token’s functionality for lending to receive an interest rate and borrowing by paying an interest rate.
Trading: A corresponding trading pair will operate on UniLend to include decentralized spot trading functionality.
Liquidity: By providing liquidity, users are able to receive fees in proportion to their liquidity pool stake.
Governance: The protocol will be governed by its token holders through proposals in order to ensure adjustments to the protocol are made with a majority consensus.
User Interface/ User Experience: An intuitive and user friendly interface designed to provide seamless trading and lending/borrowing experience.
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