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UniLend Launches Industry’s First All-Inclusive DeFi Protocol

UniLend Finance, which recently raised $3 million in a funding round, has developed a comprehensive DeFi protocol, recently releasing the Alpha version of their platform, called ‘Initium’. After announcing their aim to transform DeFi in August 2020 and coming out of stealth mode, the industry has been eagerly waiting to see if UniLend could deliver on the goal of creating the first all-inclusive DeFi protocol.

Well, the results are out. 

UniLend’s decentralized permissionless DeFi Protocol fuses lending and borrowing services with spot trading functionality on the same platform. Anyone can list any ERC20 token on UniLend, making the trading, borrowing, lending for any Ethereum-based asset decentralized.

The users of the platform will be able to benefit from several financial incentives, platform fees, and liquidity mining. The launch of Alpha has helped UniLend in fulfilling its objective of ‘unlocking the true potential of DeFi’, and the team is preparing for a consequential 2021.

UniLend Expanding the purview of Decentralized Finance 

Defi has gained huge momentum in 2020. Nonetheless, the present DeFi protocols only assist at maximum around 30 of the 6000+ crypto-assets in existence. Recently launched assets like GRT and 1INCH including several high market cap assets are making big waves in the industry with high-spirited communities like BNB, OKB, HT, and BNB that presently cannot be used for decentralized borrowing and lending.

UniLend is connecting the two by permitting any token, and therefore their holders, to take part in the DeFi revolution.

UniLend makes an estimate that permitting more cryptocurrencies to take part in the DeFi free market through permissionless listings possibly increases the liquidity of the Defi ecosystem by more than $30 billion USD. UniLend is gearing up to offer lending, borrowing, and trading of synthetic real-world assets starting with silver and gold. Its entire addressable market could increase by $15 trillion as a result.

Facing the Storm

UniLend has been continuously forming partnerships with a variety of crypto service providers like StaF,  3Commas, CyberFi, and OpenDeFi to develop better functionality and improve user experience.

Additionally, platforms and exchanges have lined up to join UniLend protocol to provide DeFi functionality for their users, like CryptoLocally and ProBit.

The most influential partnership of Unilend was perhaps that with popular Indian crypto exchange, CoinDCX. Creating a strategic partnership, UniLend is offering its users the new DeFi capabilities, powered by UniLend, directly from CoinDCX exchange. This also has UFT farming, with more growth in the pipeline sector. Since UniLend’s Alpha is out, the incorporation has begun.

After the launch of Alpha, UniLend is setting the groundwork to promote the development of the entire DeFi ecosystem. No protocol in the market can offer the means to permit new projects with complete DeFi functionality of their tokens from the first day of listing. Therefore, there is a possibility that UniLend will connect with the likes of Uniswap like a standard platform for the release of the fresh token and is already in discussion with several projects on this.

Formation of the next stage of DeFi

The release of Alpha is just a start for UniLend. As per their roadmap, Q1 2021 will witness the launch of their beta, followed by the launch of a fully developed mainnet. Additionally, there will be the execution of FusionFarming and liquidity mining, an inventive way through which users can acquire several tokens through liquidity mining for freshly listed assets.

The future generation DeFi competitors are reinventing decentralized finance and UniLend is coming up to be an important constituent for the next stage of the decentralized revolution. To start with, the launch of Alpha is a crucial event of this journey. 

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