The main aim for the creation of UniLend is to change the way that decentralized financing is seen by offering the first ever comprehensive, permissionless DeFi protocol. Before this could come to fruition, it took a lot of effort and time.
Today, we will look at the roadmap that UniLend has set out for itself. The roadmap will contain some steps it has taken and plans that it intends to achieve in the nearest future.
Conceptualisation and Architecture Ideation
UniLend offers an innovative protocol that is created to solve the problems that we encounter today in decentralized financing.
The trading pool of UniLend will offer users the necessary liquidity that will ensure that borrowing and lending are done effortlessly. This will go a long way in taking out the illiquid assets, and offering liquidity to the ecosystem.
The Completed UniLend Swap Feature
UniLend takes out the need for centralization before liquidity, trading, borrowing and lending are possible, as it currently has an automated market making pool. It does the aforementioned through decentralization.
The Completed UniLend Lending Smart Contract
The smart contracts that operate on UniLend are different from the conventional lending programs that you may come across. This is why it was tailormade by UniLend. It was done in the third quarter of 2020.
The conventional system you may come across in many DeFi protocols is a multi-asset pool system. On the other hand, UniLend protocol has different pools for different assets. This is called a multi-pool system.
The reason for separate pools for every token is to restrict the exposure that borrowers, as lenders may face when risks are concerned.
A Project in Progress: Integrating Swap with Lend Component
UniLend developers are currently trying to integrate their custom swap, while smart contracts are lent among users. This will be a major part of UniLend, as it will make it different from other DeFi protocols that are in existence. With this integration, the following will be possible:
•Liquidity-based lending and borrowing
• Liquidation component integration
• Simulations of pool percentages and other scenarios for lenders
UniLend Alpha Release
The UniLend’s Alpha will be released within the last month of 2020. In this stage, a group of users will be allowed to try out the borrowing and lending features of UniLend. This will go a long way to identify any issue that may have not been noticed before. Those that use the borrowing and lending functionalities will have to deal with fixed interest rates.
Bug Bounty Program
During this program, UniLend intends to invite attackers, hackers, engineers, as well as security researchers to be a part of UniLend incentivized Bug Bounty Program. This program is designed to pick out issues that may be hidden in UniLend infrastructure. If done well, it will improve the security and efficiency of UniLend, while offering the participants incentives.
Immediately UniLend becomes a part of the Ethereum mainnet, its team intends to integrate UniLend protocol into third-party products and services. This will give the adoptability of products a great boost that UniLend developers crave.
