DeFi Boom is everywhere but it must be inclusive not the exclusive
I have come across many platforms which is supporting the #DeFi but also feel sad about that old ERC20 Tokens not being included and specially when they are good projects they need to be added to the DeFi and swap platforms which is decentralized but who cares about them!!!
Here comes the UniLend Finance - Introducing UniLend Finance to Welcome Every Token to DeFi
As per the Chandresh Aharwar the Co-Founder and CEO to UniLend Finance ...
The existing DeFi solutions have successfully demonstrated the demand for the trading the time value of digital assets. However, current systems have left the majority of digital assets outside of the DeFi ecosystem. There are over 6000 tokens listed on coinmarketcap.com . However, the current platforms such as Compound, Aave, Maker DAO, and many more, support less than 30 ERC20 assets.
Current DeFi platforms act as a gatekeeper in allowing which projects to be a part of 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 collateral against which their funds can be lent; thereby exposing them to risks associated with all of the assets.
Peer-to-peer protocols that are looking to accommodate more tokens are asynchronous platforms with added costs and friction to the lenders and borrowers making them practically non-viable solutions in terms of gaining meaningful traction.
This points are so much impressive with a positive note to include all the 6000+ ERC tokens to let them be part of the DeFi sector they are being missed by most of the leading DeFi protocols and thus UniLend seems to show up the biggest potential DeFi protocol in the Crypto universe so far.
He also pointed out that the untapped market size is substantial than tapped one so far.
"There is a huge market opportunity for a protocol that supports a larger 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." said by the Chandresh in his article published while announcing the first glimpse of the UniLend Finance.
So far 6.59B$ USD is being locked with the Ethereum DeFi protocols. as in just last 3 days it increased by 0.26B from my previsous post about Lots of scammers attracted on the hype of the DeFi in Crypto space nowadays and this number is being increased daily.
So what is UniLend and what is about to change in DeFi !!!
UniLend is a permission-less decentralized protocol that combines spot trading services and money markets with lending and borrowing services through smart contracts. In the money markets the interest rates and collateralization ratio are based on supply, demand, and other market forces and borrowing limits are decided by liquidity in the trading pairs. The integrated smart contract for both features of the protocol allows both trading & DeFi capabilities to co-exist within the same protocol. This solves the liquidity and liquidation issue which was limiting the growth of DeFi adoption to a broader market.
UniLend’s protocol allows users to frictionlessly exchange the time value of Ethereum assets by creating a spot trading pair and separate money markets for each token. This allows ecosystem owners to create their own lending and risk management strategies.
Due to the permissionless nature of the protocol, users have the capability to list any Ethereum asset on UniLend. An asset listing on the UniLend protocol’s smart contract instantly creates and lists on markets for lending, borrowing, and spot trading.
The UniLend platform is designed to create separate money markets and trading markets for each token with multiple underlying benefits:
- Enabling lenders to choose the acceptable collateralization assets and allowing them to implement their own lending strategy to maximize their returns. Existing lending protocols act like managed funds whereas UniLend is designed as a self-managed fund.
- Creating an inclusive DeFi ecosystem where platforms do not act as gatekeepers and are able to tap into the complete token market as opposed to a limited array of tokens supported by existing platforms.
- Enabling a fully decentralized protocol just like uniswap for automated liquidity provision on ethereum.
Rather than using highly inefficient and slow peer-to-peer lending and borrowing, UniLend utilizes dual asset pools for frictionless borrowing and lending of assets backed by liquidity available in their respective trading pools.
Seems really interesting things are about to be created with the UniLend as its about to tap the most untapped markets of the Ethererum Ecosystem. Now look at the key features of the UniLend Finance protocol.
We understand the problems of fragmentation and functionality which are limiting the growth of the DeFi sector. Unilend solves this by supporting and offering comprehensive functionality for a vast range of digital assets. Here are some of the key elements of UniLend Protocol:
- Permission-less listing: Any ERC20 token would be able to list without a centralized entity/ DAO controlling the process and we’re also exploring 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.
- Native Utility Token: The native utility token on UniLend will be UFT, UniLend Finance Token. The token will have multiple aspects for governance, value, and much more to be released in a later blog post.
- User Interface/ User Experience: An intuitive and user friendly interface designed to provide seamless trading and lending/borrowing experience.
It seems that the UniLend Finance's key features are bringing up the untapped markets of the Ethereum Ecosystem into the DeFi protocol. One of the best thing noticed by me which really grabbed my eyes is Permission-Less listing... (Real Decentralization) and how they seeing things for doing that is also more interesting.
In order to fully expand the infrastructure to reach a higher frontier, we need to expand support through permission-less integrations. Sounds really great about the things..
- Supporting Any Asset
- Lending / Borrowing
- Spot Trading
- Governance Model
- Tokenization of the Assets
UniLend protocol is working to create a new niche in the market which has been neglected and untapped by current solutions in the DeFi space. We believe our efforts will create a level playing field in the market by enabling every token to be a part of the growing DeFi ecosystem and this will not stop here from there official website launched yesterday the team has disclosed the features of the platform.
And lastly the team behind the protocol seems more interesting as all are well known in the Crypto Universe and having experiences in past too...
Chandresh Aharwar - Co-Founder & CEO Previously Strategy & Marketing at matic.network
Suryansh Kumar - Co-founder & CTO Previously Co-founder at metatransact
Tarun Malik - Co-founder & CPO Previously Co-founder at metatransact
Rishabh Rathore - Blockchain Engineer Previously Blockchain Developer at blockching
Vishal Gupta - DevOps Engineer Previously DevOps Engineer at matic.network
Vivek kumar Bhagat - Legal & Compliance Previously Legal Councel at JLL, Bajaj FinServe
Vishal Kothari - Community Lead
- Juned Theba - Design Lead
- Ravindra Kumar - Advisor Founder & CEO at frontierwallet
Looks a great project from every aspect. Awaiting for tokenomics and pre-sale and public sale details as promised to be revealed soon. Go through the FAQs for the UniLend finance.
Twitter : https://twitter.com/UniLend_Finance
Web site : https://unilend.finance
Telegram : https://t.me/UniLendFinance
Telegram Announcement Channel : https://t.me/UniLendAnnouncement
Medium : https://medium.com/@UniLend
Reddit : https://www.reddit.com/r/UniLend
Mail : [email protected]
If you are really super excited with the DeFi protocols you must go through the UniLend Finance as I personally believe that this is a great potential project bringing all ERC20 tokens permission-less to the DeFi protocol in a real decentralized manner.