The UFTG is more than just a token; it’s a symbol of its commitment to community-driven decision-making and a catalyst for a more decentralized future. UFTG symbolizes its unwavering commitment to community-driven decision-making and catalyzes a more decentralized future.

Important Note: However, it’s essential to make it crystal clear that UFTG is only a wrapped version of UFT and that we are not releasing a new token or transitioning to a new token.

Understanding UFTG: Empowering Governance Participation

UFTG is the governance token that wraps native UFT tokens and will be required for users to participate in the governance. Users will be able to swap 1:1 between UFT and UFTG. In addition, UFTG is the cornerstone of Unilend’s Governance model. It’s the key that opens the door for community members to actively engage in shaping UniLend’s future. Having UFTG is your ticket to becoming an integral part of its governance processes.

Key Aspects of UFTG

1. Participation in Governance: UFTG is your access pass to actively engage in UniLend’s governance. As UFTG holders, users have the power to vote on proposals, and strategic decisions, suggest improvements and influence platform changes, and play a direct role in shaping UniLend’s future.
2. Community Empowerment: By getting UFTG, you become an integral part of UniLend’s community-driven decision-making process. Users have a say in the platform’s direction and can contribute to its growth and development.
3. Seamless Conversion: The 1:1 swap mechanism allows you to effortlessly exchange your UFT tokens for UFTG, ensuring a smooth transition and making it easy for everyone to participate in governance.
4. Boosting UFT token Utility: UFTG strengthens the UFT token’s role, giving it new significance in governance. Now, it’s not just for lending and borrowing but also decision-making.
5. Alignment with DeFi Principles: UFTG embodies the core principles of decentralized finance, promoting decentralization, transparency, and community involvement. It ensures that UniLend remains true to the ideals of the DeFi movement.

In conclusion, UFTG, the new Wrapped Governance Token of Unilend, signifies its unwavering commitment to community-driven decision-making and a decentralized future. It empowers users to actively participate in governance, all while enhancing the utility of its native UFT token. Importantly, UFTG is not a new token, it’s a wrapped version of UFT, with no transition or new token release. With UFTG, you’re not just part of UniLend, the community will be the driving force behind its growth and alignment with DeFi principles.

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In March 2021, UniLend v1 introduced the idea of flash loans coupled with permissionless lending allowing anyone to leverage the technology without any intermediation from the team. More than 30 tokens got listed on UniLend v1 in a permissionless manner and the liquidity was being used through flash loans for advanced DeFi applications.

Moreover, UniLend v1 permissionless lending and flash loans are live on four major blockchains — Ethereum, Polygon, Binance Smart Chain, and Moonriver. With the revolutionary protocol, anyone can easily create their token pool all by themselves.

UniLend Finance is bridging that gap by combining the decentralization aspect of enabling any ERC20 to be utilized as collateral for lending & borrowing functionality. Ultimately, UniLend aims to make every digital asset productive.

Furthermore, UniLend has recently launched the world’s first permissionless lending and borrowing, UniLend V2. It is also built upon the fundamental foundation of decentralization and Web3 applications with some groundbreaking new features that span from enhanced security to increased capital efficiency.

The new features of v2 include:

• Isolated Dual Asset Lending Pools
• Non-Fungible Liquidity
• Concentrated Liquidations
• Security (UniLend v2 was audited by Peckshield and Slowmist. Also successfully completed a smart contract bug bounty on Immunefi).

In addition, Tokenik expands the usual AMM protocol by implementing a price impact design into the swap interface. This in turn increases liquidity providers’ earnings by up to 70x times while drastically diminishing impermanent loss.

ABOUT Unilend Finance

UniLend is a multichain permissionless Lending & Borrowing protocol for all ERC20 tokens. They are developing a Futuristic Base Layer for all DeFi applications.

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ABOUT Tokenik

Tokenik is the world’s first Reward Farming DEX offering cash rewards and benefits for all users. Tokenik offers a one-stop-shop solution for all DEX transactions while rewarding users, projects, and liquidity providers.

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UniLend V2 Relaunched Bug Bounty On Immunefi. The UniLend a comprehensive permissionless DeFi protocol. Whereas other DeFi protocols support only a limited number of assets, anyone can list any asset on UniLend’s supported blockchains (currently Ethereum, Polygon, BSC and Moonriver) to access comprehensive DeFi functionality for those assets. This includes decentralized lending/borrowing, and the industry’s most cost-effective flash loans.

In addition to cryptocurrencies, UniLend will also support various synthetic real-world assets, NFTs and derivatives (including the major FAANG stocks and precious metals such as gold and silver).

This bug bounty program is focus on their smart contracts and is focus on preventing:

• Loss of user funds staked (principal) by freezing or theft
• Temporary freezing of funds for at least 24 hours
• Unable to call smart contract
• Smart contract gas drainage
• Smart contract fails to deliver promised returns

Rewards by Threat Level

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UniLend v2 is Now Live Tesnet, a permissionless money market intended to power the financial market and applications of the future.

In March 2021, UniLend v1 introduce the idea of flash loans coupled with permissionless lending allowing anyone to leverage the technology without any intermediation from the team. We saw many tokens getting listed on UniLend v1 in a permissionless manner and the liquidity being used through flash loans for advanced DeFi applications.

UniLend v2 built upon the fundamental foundation of decentralization and Web3 applications with some groundbreaking new features that span from enhanced security to increased capital efficiency.

Dive into UniLend v2 now: https://testnet.unilend.finance

V2 Features

The release of v2 makes the UniLend Protocol one of the most progressive, safe, and efficient DeFi platforms in the Web3 ecosystem. With some new features and innovations, UniLend v2 provides a higher level of security, greater capital efficiency, and flexible lending options for risk mitigation.

The new features of v2 include:

Isolated Dual Asset Lending Pools

UniLend team has created an innovative Isolated Dual Asset Pool model. Which means that every crypto asset pair will exist as an independent pool. This kind of isolated model ensures a higher level of security where the volatility of one asset doesn’t affect the entire protocol.

Non-Fungible Liquidity

The second feature of UniLend v2 is Non-Fungible Liquidity Positions. UniLend v2 implements NFTs as certificates for equities. Lenders will receive an NFT to represent their right to withdraw funds from the pool. NFTs on UniLend v2 will store multiple data points including the token address, and lending & borrowing balances of the asset.

Read more about Non-Fungible Liquidity in our previous article.

Concentrated Liquidations

The UniLend team has created a new concept of Concentrated Liquidations. Where a liquidator can potentially liquidate multiple eligible loans within the same translation rather than doing it one by one.

ABOUT Unilend Finance

UniLend a permissionless DeFi protocol that combines spot trading services and lending/borrowing functionality within the same platform.

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UniLend also provides spot trading, money markets, and lending and borrowing services, all under one decentralized, permissionless protocol.

Furthermore, UniLend is accessible to anyone who owns ERC-20 tokens due to its decentralized nature and permissionless token listing. In addition, the integrated smart contract in the protocol enables trade and DeFi capabilities inside the same protocol, resolving the liquidity and liquidation issue preventing DeFi from being adopted by a wider market.

Moreover, by supporting and providing specific functionality for various digital assets, UniLend addresses the issues of functionality fragmentation and limited capability. In addition, the UniLend Financial Token (UFT), a native currency for the network, serves as a governance and utility asset.

Together, SupraOracles and UniLend are exploring how SupraOracles technologies to use in DeFi applications while retaining security and transparency. The SupraOracles will help UniLend to use oracles for lending and borrowing operations with additional ERC-20 assets.

“The adoption of DeFi has to be revolutionized. We aim to lead the way with DeFi 2.0. Our partnership with SupraOracles will enable us to produce a cutting-edge, secure, and reliable solution as we move forward.”— Chandresh Aharwar, CEO of UniLend Finance

“The goal of UniLend is to help owners of digital assets realize their full potential. On their journey, we will assist them with our oracle services. We intend to boost DeFi usage across a wider market with this partnership.”— Joshua D. Tobkin, CEO and Co-founder of SupraOracle

ABOUT SupraOracles

SupraOracles combines traditional financial markets with Web3. Its goal is to provide a powerful cross-chain oracle to the developer community. SupraOracles also enables the interoperability of smart contracts to guarantee the future of financial markets by integrating real-world data into public and private chains. This technology provides the ability to create, deploy and manage data applications that are faster, more agile, and more resilient.

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ABOUT Unilend Finance

UniLend is a permissionless DeFi protocol that combines spot trading services and lending/borrowing functionality within the same platform.

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This partnership of e-Money with UniLend will enable the platform to gain access to a European user base and onboard a new cohort of users to trade on the protocol.

e-Money’s suite of fully compliant, asset-backed, and interest-bearing stablecoins such as EEUR, ECHF, ESEK, ENOK, and EDKK offer a strong alternative to dollar-denominated digital currencies.

Why stablecoins are necessary?

Stablecoins strengthen the bridge between fiat currency and cryptocurrency as they are pegged against reserve assets like the Euro, U.S dollar or gold. This alleviates the potential adverse effects of market volatility as compared to other cryptocurrencies like Bitcoin, Ethereum, etc. Due to stablecoins capability to provide an over-collateral for an existing digital asset that enables the dynamic maintenance of a stable market price, they have emerged as key assets in money market protocols. The stablecoin framework offers protection from market volatility brought on by the underlying collateral. They unlock significant utility in the money market protocols and the blockchain ecosystem by upholding consistent values.

Partnership Highlights

UniLend will empower e-Money’s stablecoins with flagship lending & borrowing functionality after the UniLend v2 OMNIS mainnet launch. Enhancing the quality of assets supported on the platform.

Furthermore, this collaboration will enable UniLend to gain access to a European user base and onboard a new cohort of users to trade on the protocol.

About UniLend Finance

UniLend is a Multichain permissionless Lending & Borrowing protocol for all ERC20 tokens. We are developing a Futuristic Base Layer for all DeFi applications.

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About e-Money

e-Money is a blockchain-base payment platform, built by Danish fintech e-Money A/S. Committed to bringing financial inclusion and helping people around the world to have easy access to digital currencies. Built on Cosmos technology, e-Money supports a range of fiat-stablecoins. Which are fully back by bank deposits and government bonds that are also interest bearing. The fidelity and transparency of e-Money stablecoins will be ensured by Ernst & Young providing quarterly Proof of Funds.

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SOURCE

https://unilend.medium.com/unilends-permissionless-money-market-protocol-will-empower-euro-backed-stablecoins-by-e-money-b525865d0a0a

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