UniLend Finance Introduces UniLend v2, Enables Lending and Borrowing of ERC20 Tokens 

Sahaj  |  Oct 13, 2021

UniLend Finance has recently published its protocol update blog and introduced UniLend v2 enabling the lending and borrowing of all ERC20 tokens. Earlier this year, the Binance Innovation Zone project enabled Lending for every token along with Flash Loans. 

UniLend Finance Introduces UniLend v2, Allows Lending and Borrowing of ERC20 Tokens

The team released an initial blog giving explanations regarding various innovative features in their upcoming version, which is going to take care of Lending and Borrowing of over 9000 assets. 

Back in the month of August, the protocol went live into the permissionless listing of any token. As a result of this, the protocol has over 25 cryptocurrencies live for Lending and uncollateralized borrowing through Flash Loans. 

In addition to this, it has been revealed that the major protocol update will be equipping UniLend to enter the untapped $1 trillion + crypto market capitalization without notable competition.

Key Features of UniLend v2

  1. The UniLend v2 protocol introduces pools for dual assets just like the UniSwap liquidity model. These pools prevent the tokens in a particular pool to be immune to price and volatility in liquidity of assets in other pools.
  2. It allows the users to trade their lending/borrowing positions in open markets due to the tokenization of lending/borrowing positions into debt NFTs.
  3. The construction of a proof mechanism to acquire the price feed from on-chain market data to find out the asset's position.
  4. Lending and Borrowing functionalities are finally viable due to high gas optimization approaches.
  5. Audited by Certik, hence ensures security
  6. Chandresh Aharwar on the Future of UniLend

    Chandresh Aharwar, the CEO and Co-founder of UniLend, said that the current untapped capitalization of the market is standing around $500 billion and they are building the future of Defi.

    Chandresh was also the leading Marketing and Strategy at Polygon before Co-founding UniLend. 

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