UniLend is a permission-less decentralized DeFi 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 has been limiting the growth of DeFi adoption to a broader market.
Existing DeFi solutions have left the majority of digital assets outside of the DeFi ecosystem. There are over 6000 tokens listed on coinmarketcap. However, the current platforms such as Compound, Aave, Maker DAO, and many more, 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.
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.
We 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.
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 centralized 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.
Yes. The native utility token of UniLend will be UFT, UniLend Finance Token. The token will have multiple use cases relating to governance, platform utility, and much more.