As the DeFi space continues to attract record-levels of locked value, new projects are beginning to enter the market aiming to push DeFi to the next level of maturity. One such player which is gaining impressive traction is UniLend Finance, a permissionless DeFi protocol with the mission of ‘unlocking the true potential of decentralized finance’. Their recent roadmap release outlines the team’s strategy to achieve this goal over the next nine months.
Off to a Flying Start
After raising $3.1M during their funding rounds amid strong support from industry heavyweight investors including Woodstock Fund, Signal Ventures and 3Commas, UniLend has continued to turn heads for their unique value proposition which is poised to take the DeFi space by storm.
By combining spot trading services and lending/borrowing functionality within the same protocol, the UniLend team is building the industry’s first comprehensive DeFi platform. Perhaps the biggest value proposition of UniLend, however, is their permissionless listing mechanism. Whilst other leading DeFi protocols support only a limited number of assets, UniLend will allow anyone to list any ERC20 asset, providing full DeFi functionality for all Ethereum-based assets.
The protocol’s native utility token, UFT, has continued to steadily climb an impressive 570% from its post-listing low of $0.143 in late October to where it currently stands at $0.825 at the time of writing.
The Road to Unlocking the True Potential of DeFi
UniLend’s recent roadmap release has crystallized the team’s strategy to bring their next-gen DeFi platform to market over the coming months. A multi-stage platform launch, community governance implementation, innovative functionality such as Fusion Farming, and a range of native integrations are just a few of the major milestones on the horizon for the disruptive DeFi player.
The milestone which has attracted the most attention is the protocol’s Alpha launch which is due this month, December 2020. The Alpha launch will see the initial release of the UniLend protocol, allowing a select group of users to test their lending and borrowing functionality.
Upon the full platform launch, scheduled for Q1 of 2021, the full utility of UFT will be realized. Liquidity providers will be compensated with UFT tokens via liquidity mining, in addition to platform fees, and protocol users themselves will also be rewarded with a distribution of UFT for utilizing the protocol.
The team plans to ‘completely decentralize UniLend protocol by placing governance power in the hands of token holders’ via the UniLend Governance DAO in Q2 of 2021.
Much More than a DeFi Protocol
UniLend is laying the groundwork to foster the growth of a complete DeFi ecosystem. With their ability to provide new projects with full DeFi functionality of their tokens from day one of listing, the team UniLend anticipates they will join the likes of Uniswap as a standard platform for new token launches.
To support the growth of projects in the UniLend ecosystem, the team will launch their Ecosystem Fund in Q2 of 2021, which will fund a range of technical, marketing-related and advisory support. Fusion Farming, an innovative mechanism by which UniLend users will be able to attain multiple tokens via liquidity mining for newly listed assets, will also be implemented by this point.
The scope of the impact of UniLend on the DeFi movement is yet to be determined. However, with their permissionless listing model and grandiose plans for a range of unique functionality, UniLend is poised to become a major building block of the next phase of the decentralized revolution.
Social pages: Telegram (https://t.me/UniLendFinance)
Announcements (https://t.me/UniLendAnnouncement)
Twitter (https://twitter.com/UniLend_Finance)
Website (https://unilend.finance)
Further Details:
Name: Chandresh Aharwar
Telephone – +91 9460205564
Company Name – UniLend Ltd.
Address – Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands
(Syndicated press content is neither written, edited or endorsed by ED Times)
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