UniLend Protocol is about to take a major leap forward, accepting any token for loaning and disrupting the $500 billion untapped industry. They’re ready to provide the most major technological advancement to their 100K-strong membership and the broader DeFi network.
UniLend’s company has gone out to construct one of the most widely used lending technologies while also providing big things to the market; UniLend became a permissionless system and incorporated the leading 3 most widely used chains – Binance Smart Chain, Polygon, and Ethereum, in less than a year.
UniLend V1 was a one-of-a-kind solution that made low-cost Flash Lending a possibility while also introducing borrowers to the notion of Automatic Reward Distribution. As a result, they developed 50+ collaborations and saw amazing growth in Unilend V1 usage, with 25 plus assets lending pools and 10 million dollars in Flash Loans used across Ethereum, Polygon, and Binance Smart Chain.
UniLend also announced a $1 million grant program, and its engineering group has lent opportunities for young and blooming initiatives like uBoost in order to expand the protocol’s usage.
UniLend V2 will allow anybody to register a ticket on the protocol and gain instant access to DeFi offerings. They will be distinguished from other DeFi protocols that function as guardians by their comprehensive attitude. In addition, UniLend V2 will use a new concept of dual asset pooling to open up security for all assets.
UniLend’s Version 2 is much more than simply a minor upgrade; it’s a watershed moment in the company’s history. With the integration of Decentralized Finance in v2, a new generation of banking markets will influence the lives of thousands of people.
Key Features of UniLend V2
Players will be able to loan more than 9000 assets in addition to borrowing with V2. Furthermore, the margin rates are programmatically modified to reward participants and promote optimum pool liquidity.
UniLend v2 presents two asset pools. Dual asset pools keep tokens in one pool from being affected by price and liquidity movements in other pools. UniLend’s unique architecture also enables permissionless asset pooling, which is not supported by other protocols.
Lenders get to choose the assets against which they want to loan by choosing the appropriate pool and desired APY using UniLend. It also allows lenders to control their risk rather than relying on a single pool where they have no control over which security is used to borrow funds.
Now UniLend’s permissionless architecture will enable users to create new pools using an easy interface that allows the user to employ any mix of tokens, on-chain oracles, and customized pool settings such as liquidated threshold loan-to-value ratio and exchange rate curves.