UniLend is a DeFi platform. The core idea behind UniLend is unlocking the potential of ERC-20 tokens not listed on existing platforms. Other projects only allow operations with about 20 most popular ERC-20 tokens, while thousands of other cryptocurrencies remain unavailable. Operating such a limited number of tokens also opens an opportunity to manipulate the markets. On UniLend, however, thousands of tokens can be borrowed, lent, and traded. Adding a token to UniLend is simple, since it’s permissionless, meaning no centralized entity is required as a middleman, and any user can add a token they want to see on the platform. In addition, UniLend is creating an ecosystem to host multiple DeFi projects: PolkaBridge, Playcent, Cyberfri, and others.
UFT is the project’s native utility token based on Ethereum. It serves as a convenient tool to settle disputes between UniLend’s users. Token holders vote to improve the protocol’s functionality: they can decide to add new crypto pairs or change specific assets’ collateralization ratios, as well as vote on important decisions regarding UniLend’s future.
As a way to encourage users to take part in governance, UniLend rewards them with UFT for trading, borrowing, or lending through the platform. Creators of UniLend state in the project’s Lite Paper that the token is non-refundable and is made for using on the platform only: UFT can be exchanged on UniLend, used to govern it, but cannot earn interest.
UniLend was created in 2020 with the idea that other DeFi platforms only support selected few Ethereum based assets, leaving the majority of them inaccessible. The project is created and supported by an experienced and passionate team with a crypto background: CEO and co-founder Chandresh Aharwar has experience working for Matic Network, another co-founder and CTO Suryansh Kumar is one of co-founders of MetaTransact, along with Tarun Malik who occupies the position of CPO at UniLend.
Whether you want to purchase UFT for holding or to take part in governing the UniLend platform, start by using the widget below or go to the SimpleSwap homepage and follow the instructions:
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