As IDO Lending Partners, Red Kite and UniLend will provide liquidity to DeFi startups

Given the substantial capital inflows into the DeFi market, many early-stage DeFi firms are experiencing liquidity challenges, which could stifle innovation and growth. As an IDO lending partner, Red Kite is thrilled to be teaming with Unilend, a decentralized lending and borrowing protocol, to deliver liquidity to new DeFi protocols.

Due to this Partnership;

New projects that launch an Initial Dex Offering (IDO) on Red Kite will be able to start lending and using flash loans via Unilend as soon as possible.

Unilend users can lend to Red Kite projects and receive a high annual percentage yield while investing in intriguing new coins.

PolkaFoundry’s Red Kite is a cutting-edge launchpad designed to increase investor access to and involvement in IDOs. Red Kite is already a sought-after launchpad, with high-profile projects in the works. The $PKF token is required for IDO participants.

DeFI initiatives have run into financial difficulties. They haven’t had access to the traditional banking world’s controlled, permissioned loan market, which is an important source of money for startups. Moreover, while the DeFi loan and borrowing markets are maturing, they have primarily served the top few dozen currencies.

UniLend uses an integrated smart contract that allows both trade and DeFi capabilities to co-exist inside the same protocol to overcome the liquidity and liquidation difficulties that are hindering the growth of DeFi projects. A project token can be used to lend and borrow at a minimal cost, while a matching trading pair trades on UniLend’s spot market. UniLend’s permission-less lending and flash loans, as well as reduced gas costs and lower fees, are available to any token in the globe.

UniLend flash loans allow users to borrow money quickly and simply without having to put up any collateral, as long as the money is returned to the pool from whence it was borrowed within one transaction block.

PolkaFoundry Red Kite and UniLend teams have been at the vanguard of providing financing and technological solutions that help projects establish products and services for cross-chain DeFi marketplaces. Both teams are excited to continue working together to develop liquidity vehicles that remove funding barriers and unleash the entire potential of decentralized finance.

About Red Kite

As part of the developing $PKF ecosystem, Red Kite is a cutting-edge launchpad powered by PolkaFoundry. Red Kite address two major issues that plague early-stage projects: inadequate marketing and a scarcity of investors due to fraud fears. Red Kite projects are hand-picked after a thorough vetting process that takes into account everything from the project teams’ origins to their validity and execution capacity.

About Unilend

Existing DeFi platforms function as gatekeepers, determining which projects will be included in their pool, effectively excluding the vast majority of assets from the DeFi ecosystem. Multi-asset pools also expose lenders to the risk of all of the assets contained in the pool, and they have no control over the collateral against which their funds can be lent. UniLend is a permissionless decentralized system that uses smart contracts to link spot trading and money markets with lending and borrowing services. UniLend has recently released sophisticated DeFi Strategies permission-less quick loans.

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