About UniLend (UFT)
UniLend Finance (UFT) is a decentralized finance (DeFi) protocol that combines spot trading services and money markets with lending and borrowing functionality through smart contracts. According to the whitepaper, UniLend enables any ERC20 asset to be utilized for lending and borrowing, thereby democratizing access to financial services across a broad spectrum of digital assets.
UniLend runs a dual-asset pool model that enables users to supply and borrow against ERC20 tokens. Users can supply assets to earn interest, after which they can utilize those very assets to borrow other tokens. The protocol supports a variable interest rate model that changes depending on the dynamics between supply and demand. Furthermore, UniLend also allows for flash loans, where a user can take an uncollateralized loan if it's paid back in the very same transaction block.
According to the team, UniLend was conceptualized to bridge the limitation of current DeFi protocols, which restrict the range of participating tokens in lending and borrowing. In light of this, the project is intended to set its uniqueness with permissionless listing, implying that any ERC20 token will have the power to get listed for lending and borrowing without approval. This is a departure from the traditional DeFi protocols that typically support only a limited set of tokens. In addition, UniLend integrates an NFT representation for liquidity positions, which increases the flexibility and tradability of such positions in secondary markets.
The UFT token is mainly used for governance, enabling holders to vote on protocol upgrades, and for staking to earn rewards within the UniLend ecosystem.
UFT can be purchased and available for trade on Binance. The live price of UFT is updated and available in real time on Binance.