UniLend is a multichain lending and borrowing protocol that supports a wide range of tokens, including stocks, commodities, derivatives, synthetics, LP positions, and more.
UFT is the native token of the project. The current use cases for UFT include:
Governance: UFT holders can decide on implementing new protocol parameters changes through a majority consensus vote.
Incentives: Incentives for liquidity providers and participants of the ecosystem to bootstrap the protocol & distribute governance tokens.
Platform benefits: UFT Holders will get benefits while using the platform such as priority access, lower fees, higher yield on selected pools.
The project consists of the following major components working in conjunction:
Isolated Dual Asset Pool: Anyone can easily create a dual asset pool for lending & borrowing for any pair of assets in a permissionless manner and leverage a new wide range of DeFi strategies.
Permissionless Listing: Any ERC20 token can be listed on the UniLend platform without any entity controlling the listing process, making lending, borrowing, and flash loans functionality accessible to every token.
Non-Fungible Liquidity: UniLend has implemented NFTs as certificates for equities. NFT will represent the lender's right to withdraw funds from the pool. These NFTs will determine the user’s liquidity position in the pool and are transferable.
As at March 31st 2023, the maximum and total token supply of UFT token is 100,000,000. The current circulating supply is 62,330,000 (62.33% of the total token supply). Learn more about the token distribution of UFT here.