You are here
Home > Other Crypto News > UniLend’s Permissionless Lending and Borrowing Protocol is Reshaping the Future of DeFi

UniLend’s Permissionless Lending and Borrowing Protocol is Reshaping the Future of DeFi

UniLend Finance recently introduced a series of changes in their protocol, and in their recent protocol blog update, they introduced UniLend v2. Via this update, anyone can now lend and borrow any ERC-20 token, just as anyone can now trade any token on a decentralized exchange (DEX) without permission.

UniLend now stands a good chance of taking advantage and enjoying the benefits of the multi-billion dollars crypto industry with its ground-breaking features. With its revolutionary features, the platform would be able to handle lending and borrowing of over 9000 assets. After going live with the permissionless listing of any token, Unilend’s platform experienced a boom and became fully equipped as it now supports over 25 cryptocurrencies for lending and non-collateralized borrowing via flash loans.

UniLend’s Explosive Features

UniLend V2’s features put it in a class of its own and eliminate any seeming competition that might arise from other parties. Here is a look at some of these features that have positioned UniLend as a key player in the crypto space:

Dual assets pool: UniLend v2 provides dual asset pools, which are analogous to the UniSwap liquidity concept. Dual asset pools keep tokens in one pool from being affected by price and liquidity movements in other pools.

Permissionless listings: UniLend’s permissionless architecture adds more advantages to the platform giving it a competitive edge. Via their permissionless listings, UniLend’s users are able to create new pools using an easy user interface that allows them to employ any mix of tokens, on-chain oracles, and custom pool settings such as liquidation thresholds, loan-to-value ratios, and interest rate curves.

On-Chain price feed:  another key feature of the platform is the on-chain price feed. The UniLend protocol set up a proof mechanism to help users identify asset positions and get the price feed from the on-chain market data.

Gas optimization – Suryansh Kumar, the protocol’s chief technology officer and founder, claims that the protocol has used high gas optimization methodologies to make UniLend Finance’s fundamental lending and borrowing functions financially viable.

Non Fungible tokenization: Users can trade their lending/borrowing positions in open marketplaces thanks to the tokenization of lending/borrowing positions into debt non-fungible tokens (NFTs). This has been a major factor why users troop to the UniLend platform, especially in the era where NFTs are the most popular concept in the crypto space.

Security – to show their credibility and security,  UniLend’s v1 lending and flash loans version has been audited by Certik, a major smart contract auditor. 

Excitement for UniLend v2

The crypto community considers UniLend Finance’s v2 to be the most decentralized money market protocol. UniLend’s v1 is already active on three popular blockchains: Ethereum, Binance Smart Chain, and Polygon, with v2 expected to be live on all of them soon.

CEO and co-founder of UniLend, Chandresh Aharwar, shared a tweet in response to the thrill of the UniLend v2. He wrote, “The current untapped market cap sits around $500 Billion. We are building future of #DeFi @UniLend_Finance. Welcome to the permissionless world.”

Related Article  Will QuickNode Become The Azure of Blockchain With its Raise of $60M Investment?

Leave a Reply