UniLend, the Platform Changing the Defi Community
UniLend is one of several crypto ventures that have revolutionized the Defi industry in recent months. UniLend is a permissionless, decentralized system that connects spot trading, money markets, and lending and borrowing services using smart contracts.
The platform reportedly made significant protocol updates and developed UniLend V2 a few months ago, positioning it for more development and influence in the Defi field. Users can now lend and borrow any ERC-20 token, as well as trade any token on a decentralized exchange (DEX) without permission, thanks to the update.
UniLend now has a good chance of capitalizing on the multi-billion dollar crypto sector and enjoying the advantages thanks to its ground-breaking features.
The platform’s ground-breaking features would allow it to handle over 9000 assets in lending and borrowing. After the permissionless listing of any token became live, UniLend’s platform blossomed, and it is now fully equipped, supporting over 25 cryptocurrencies for lending and non-collateralized borrowing via flash loans.
A glimpse of the Features of UniLend V2:
Gas optimization: Suryansh Kumar, the protocol’s chief technical officer, and founder, asserts that high gas optimization approaches have been employed to make UniLend Finance’s basic lending and borrowing services financially viable.
Non Fungible tokenization: since lending/borrowing positions have been tokenized into debt non-fungible tokens, users can trade them in open marketplaces. This is one of the main reasons why users flock to the UniLend platform, especially now that NFTs are the most popular crypto concept.
On-chain pricing feed: The on-chain price feed is another important element of the platform. The UniLend protocol established a proof method to assist users in identifying asset positions and obtaining pricing data from on-chain market data.
Security and credibility: UniLend’s v1 lending and flash loans version has been audited by Certik, a leading smart contract auditor, to demonstrate its credibility and security.
Permissionless listings: UniLend’s permissionless structure brings extra benefits to the platform, providing it with a competitive advantage. UniLend customers can build new pools utilizing an intuitive user interface that lets them use any combination of tokens, on-chain oracles, and unique pool settings such as liquidation thresholds, loan-to-value ratios, and interest rate curves via their permissionless listings.
UniLend, a Thrilling Platform
The community was ecstatic when UniLend V2 was announced. UniLend Finance’s v2 is widely considered in the crypto community as the most decentralized money market system. UniLend’s v1 is already available on three popular blockchains: Ethereum, Binance Smart Chain, and Polygon, with v2 coming shortly to all three.
Chandresh Aharwar, UniLend’s CEO and co-founder, responded to the excitement about the UniLend v2 with a tweet. He wrote, “The current untapped market cap sits around $500 Billion. We are building future of #DeFi @UniLend_Finance. Welcome to the permissionless world.”
UniLend is making progress
UniLend has positioned itself as one of India’s most promising initiatives, following in the footsteps of Polygon. Chandresh was the marketing and strategy director at Matic, which is now Polygon, before co-founding UniLend.
The entire value of assets locked in decentralized finance (DeFi) was just under $15 billion when he first disclosed UniLend to the world last year, but it has since soared to more than $90 billion. UniLend is entering a market valued more than $500 billion, up from $16.7 billion the previous year.