UniLend takes a leap forward to scale their permissionless lending and borrowing product with Polygon zkEVM
UniLend, the decentralized finance (DeFi) platform that’s taking the world by storm, announced its upcoming launch on Polygon ZK. This move will allow UniLend to offer its users lightning-fast transaction speeds, increased scalability, and enhanced security.
UniLend v2 Testnet went live on Polygon zkEVM on March 20, 2023.
UniLend is a multichain permissionless Lending & Borrowing protocol for all ERC20 tokens aiming to become a futuristic base layer for all DeFi applications. UniLend V2 is the world’s first-ever permissionless lending & borrowing protocol where anyone can create a dual asset pool for lending & borrowing for any pair of assets in a permissionless manner.
Zero-Knowledge (ZK) technology is widely seen as a significant development for blockchains and cryptography to help increase the speed of transactions and cost reduction.
zkEVMs are zk-rollups, a scaling solution that processes multiple transactions on a layer 2, then batch-up to send the transaction data back to the Ethereum mainnet blockchain. ZK roll-ups use proofs to verify that a transaction is not malicious by sharing a fragment of relevant information about that transaction.
In October, UniLend went live with its v2 testnet on SepoliaETH, where lending and borrowing of any ERC20 tokens was made possible.
Since the testnet went live, over 10,000 users have been engaged with the product leading to 50,000+ transactions across 25+ liquidity pools.
UniLend Co-Founder and CEO, Chandresh Aharwar, commented on the upcoming launch, saying, “We’re excited to take UniLend to the next level with the integration of Polygon ZK. This will enable us to provide our users with an unparalleled DeFi experience that’s faster, cheaper, and more secure than ever before.”
Don’t miss out on this game-changing event – join UniLend and experience the future of DeFi today!