On Moonriver, UniLend Finance will debut the Lending & Borrowing Protocol
UniLend, the first protocol to deliver FLash Loans on the Kusama Ecosystem, will launch on Moonriver.
UniLend Finance, a permissionless lending and borrowing protocol with the goal of turning all digital assets into productive assets, believes strongly in the multi-chain concept. Interoperability is the key to decentralization, and UniLend Finance has long backed this concept.
Unilend announced their entry into the Polkadot ecosystem as part of UniLend’s multichain DeFi strategy. They successfully launched UniLend V1 on Ethereum, Binance Smart Chain, and Polygon, the three most widely used Blockchains.
Polkadot has long been a focus of ours due to their incredible dedication to developing the next generation of interoperable blockchain networks.
Increase in the number of users
On the Kusama network, Moonriver offers the most powerful EVM-compatible smart contract platform, making it simple to create natively interoperable decentralized applications. Moonriver’s unrivaled Ethereum interoperability has enabled over 60 projects to migrate to Kusama, making it the most active parachain with over 10 million transactions and 352 thousand wallets.
Developers can also use Moonriver’s technology to install existing Solidity smart contracts on Kusama. According to Movr News, the daily transactions on the Moonriver network just surpassed 400,000.
Moonriver’s first launch
UniLend V1 will be launched on Moonriver as the first-ever flash loans service on Kusama to kick off the integration. Moonriver is a Kusama network parachain that launched in August 2021. Moonriver is a Moonbeam sister network that provides an Ethereum-compatible Kusama environment for testing under real-world economic conditions. Developers now have access to Moonriver, allowing them to begin developing, testing, and launching DApps on the canary network.
About Moonbeam Network
Moonbeam is a Polkadot-based Ethereum-compatible smart contract platform that makes it simple to create natively interoperable applications. With this Ethereum interoperability, developers can easily port existing Solidity smart contracts and DApp frontends to Moonbeam. Moonbeam will benefit from the shared security of the Polkadot relay chain and integrations with other Polkadot-connected chains as a parachain on the Polkadot network. Moonbeam is currently being developed by PureStake and is anticipated to reach MainNet in January 2022.
UniLend aspires to be the foundation upon which future DeFi protocols are constructed. Omnis enables a wide range of applications that were previously unavailable with DeFi. The capacity to utilize leverage to long or short any asset, for example, is only one of the complex trading tactics that Omnis customers may deploy.