UniLend Protocol is set to be Permissionless
TL;DR
- Permissionless listing of any token for Lending and Flash Loans to go live this Tuesday
- The protocol first went live on Ethereum with Lending and FLash Loans 3 months back in March.
- UniLend’s protocol has 17 tokens listed already with millions of dollars worth of tokens without any security risks.
- Detailed guide on how to start pool for lending of any token will be live after launch
- Team will continue to support projects which list on UniLend with rewards to the lenders
UniLend’s journey started with the mission and vision to “Unlock the true potential of Decentralised Finance”.
So far they have successfully launched Lending and Flash Loans products on Ethereum and Polygon Chain, which have been live for almost 3 Months without any security threats. With more than 17 tokens listed and millions worth of value locked, UniLend’s protocol is set to be permissionless.
Over the past few months, with 35+ partnerships and multiple feature implementations to their product, they are ready for the big leap by decentralizing their products. We launched their products on Ethereum in March this year, only a few weeks later we integrated on the biggest and most widely adopted L2 solution Polygon. We have successfully become the most cost-efficient Flash Provider for WMATIC tokens with more than $1 million value locked.
Their product is already Certified by Certik and with the feedback from the community they have made the process smooth and completely secure.
Welcoming every ERC20 asset to UniLend Ecosystem
Now out of 7000+ cryptocurrencies on different blockchains any token can be listed on UniLend for Lending and Flash Loans without any permission or approval. The UniLend team has decided to decentralize the listing process as the protocol has been live for more than 3 months. This means that teams and their communities can list their favorite tokens without permission on UniLend with a few simple steps.
Going ahead many major tokens will be listed on the UniLend Platform on major blockchains including Ethereum and Polygon to start their Lending and Flash Loans. This will increase the utility of their native UFT token. UFT being the fuel of their ecosystem, will play a major role in the permissionless governance set to launch very soon.
Changing the Landscape
True to their vision, we will become the 1st protocol to provide lending & flash loans of any token on their platform. However, they will continue to support and promote tokens with great community and utility. Projects which want to expose their token to their community and followers can still reach them while providing rewards for lending pools.
As their Founder and CEO, Chandresh said “We are allowing every token to take advantage of our permissionless listing, now projects can participate in DeFi from the start of their IDO. Our protocol will become a hub for Lending, Borrowing, Flash Loans and many more DeFi Functions.”
This is a major step towards their long term vision and the UniLend team is extremely proud of its community for supporting them through this journey. Their community will play a major role by actively participating in listing of tokens and later with protocol governance.
In the coming days, they will release a detailed guide which details how anyone can start a pool for any token in a few simple steps on both the chains. It is a major milestone not only for UniLend but for the entire DeFi space as well because they are paving the way for true decentralization by providing major Defi services for all the 7000+ cryptocurrencies without any barrier or preferential treatment.
With DeFi growing faster than many imagined possible, the ability to lend and borrow any token will be a must. We envision that the functionality of Lending and borrowing for any token is as essential as the function of trading.
About UniLend Finance
UniLend is a decentralized permission-less protocol that combines money markets and spot trading services with lending and borrowing services with the help of smart contracts, unlike any existing DeFi protocol. This integrated smart contract allows for both DeFi capabilities and trading services to co-exist together.
📰 INFO
https://unilend.medium.com/unilend-protocol-to-go-permissionless-on-6th-july-2021-b0e4cfc11bc2
