UniLend

UniLend

UniLend UFT Rank #868

How to invest in UniLend (UFT) Token - What is it, price and staking

UniLend Exchanges

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What is Unilend? UniLend is a permissionless DeFi protocol that combines spot trading services and lending/lending functionality within the same platform. While other DeFi protocols only support ~30 assets, anyone can list any ERC20 asset on UniLend for decentralized trading and lending/lending. UniLend's mission is to open up the DeFi space to $29 billion in ERC20 tokens that are currently excluded from DeFi, hence its tagline "unlocking the true potential of decentralized finance." How is UniLend different from other DeFi protocols? Existing DeFi solutions have taken most digital assets out of the DeFi ecosystem. There are more than 6000 tokens listed on coinmarketcap. However, other DeFi protocols support fewer than 30 assets. Some protocols offer borrowing and borrowing with a limited pool of tokens, while others offer the freedom to trade any ERC20 asset but neglect the borrowing and borrowing aspect. UniLend is bridging this gap by combining the decentralization aspect of allowing any ERC20 to be used as collateral for loans & borrow while providing the flexibility for users to trade their assets on the platform as well. Ultimately, UniLend aims to unlock the full potential of digital assets for their owners. What is the purpose of UniLend's native UFT token? The UFT token is mainly used to facilitate the governance of the UniLend protocol. The heads of the UFT will decide a series of factors related to the proper functioning of the protocol through proposals that require the implementation of the consent of the majority. Liquidity providers are a key component in ensuring the sustainability of a decentralized finance protocol by facilitating liquidity within the protocol. They will then be rewarded with UFT tokens through cash withdrawal, as well as a percentage of trading and lending fees. Platform users who use UniLend to lend, borrow, or trade will be rewarded with governance power in the form of a UFT token to not only encourage the use of platform services, but also to facilitate distributed governance.