Red Kite x UniLend Partnership
Red Kite & UniLend announced partnership to support innovation & growth in DeFi markets.
The partners have agreed to collaborate as follows:
- New projects launching an Initial Dex Offering (IDO) on Red Kite will have an early opportunity to start lending and using flash loans via Unilend
- Unilend users have the opportunity to lend to Red Kite projects and earn a high APY while investing in exciting new tokens.
Red Kite by PolkaFoundry is a state-of-the-art launchpad designed to improve investor access to and participation in IDOs. Already an in-demand launchpad, Red Kite has high-profile projects in the pipeline. IDO participants need to hold the $PKF token.
DeFI projects have faced a funding dilemma. They have lacked access to the centralized, permissioned loan market that serves as an essential source of capital for startups in the traditional finance world. And although DeFi lending and borrowing markets are maturing, they have primarily catered to the top several dozen coins.
UniLend solves the liquidity and liquidation issues limiting the growth of DeFi projects with an integrated smart contract that allows both trading and DeFi capabilities to co-exist within the same protocol. A project token can lend and borrow at a low cost, while a corresponding trading pair trades in the spot market on UniLend. Crucially, UniLend’s permission-less lending and flash loans, along with optimized gas costs and more affordable fees, are open to any token in the world.
UniLend flash loans enable users to borrow instantly and easily, without the usual amount of collateral needed, provided that the liquidity is returned to the pool from where borrowed within one transaction block.
The teams of both PolkaFoundry Red Kite and UniLend have been at the forefront of developing financing and technology solutions that break down barriers for projects seeking to create products and services for cross-chain DeFi markets. Both teams look forward to continued cooperation on developing liquidity vehicles that remove funding obstacles and unlock the true potential of decentralized finance.
What is UniLend?
The existing DeFi platforms act as a gatekeeper in deciding which projects will 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. UniLend is a permission-less decentralized protocol that combines spot trading services and money markets with lending and borrowing services through smart contracts. UniLend has recently launched permission-less flash loans for advanced DeFi Strategies.
What is Red Kite?
Red Kite is a cutting-edge launchpad powered by PolkaFoundry as part of the growing $PKF ecosystem. We solve two significant problems of early-stage projects: limited marketing and lack of investors due to fraud concerns. Projects on Red Kite are carefully hand-picked through a vetting process that considers everything from the project teams’ origin to legitimacy and execution capability. These projects are also supported by a network of our tier-1 marketing partners, top influencers, and interactive communities to help them soar.
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