If Bitcoin gave us digital money, Ethereum gave us decentralized finance and UniLend pioneered the idea of permissionless money markets. The lending protocol has been an innovative DeFi platform that has led the new wave of financial markets.
Since its inception a year ago, UniLend has introduced novel features that have made it a key stakeholder in the blockchain industry. Users have leveraged low fees, automated rewards and flash loans to maximize their capital.
A frontrunner for Permissionless Money Markets
Where UniLend truly excels is in its quest to become the first truly permissionless lending protocol. The current DeFi ecosystem is filled with different protocols that have although revolutionary have failed to uphold the standards of DeFi, which is decentralized finance for all.
UniLend has devised a unique protocol that resolves these problems with its upcoming UniLend V2 update set to launch in the coming weeks. UniLend V2 will feature a multichain permissionless protocol that allows users to access novel financial products.
With UniLend v2 users will access more than 9,000 assets and leverage collateralization rates optimized to ensure maximum liquidity in pools. This means that users have more options to choose lending assets and explore multiple pools based on their APY within the $70 billion DeFi market.
A key aspect of UniLend is its dual asset pools. This unique feature ensures that tokens in specific pools are immune to price and liquidity fluctuations of assets in other pools providing true decentralization. It also enables UniLend to offer permissionless asset pools that are distinct from other DeFi protocols.
UniLend further expands the potential of DeFi with the introduction of permissionless listing. Projects can be listed on the platform without complex procedures and guidelines experience on major DeFi protocols. UniLend will enable projects to bootstrap new pools, test a combination of tokens, and check the protocol’s liquidation threshold and interest rate curves.
The protocol also takes flash loans to the next level allowing liquidators to borrow capital to execute liquidations in return for interests. Governance is a major aspect for truly decentralized projects, and UniLend features an inclusive governance model. Community members can propose and vote on key decisions within the platform.
Users can also leverage the growing trend of NFTs on UniLend. This includes tokenizing lending and borrowing positions with NFTs. NFT holders can trade their debt tokenization in open markets to other traders.
Exciting future ahead
UniLend has pioneered a system that will revolutionize the blockchain and defi space for years to come. Beta Finance has already picked its idea of permissionless money markets, showing the influence UniLend has in the DeFi eco-space.
The UniLend v2 testnet is expected to launch in the coming weeks, and users will get a test phase of the full product. Following the testnet period, UniLend will release the full version product, and users can explore novel features.
To learn more about UniLend, visit the links below.