UniLend is now available & Starting a New Chapter of Permissionless DeFi on Binance Smart Chain
UniLend is pleased to announce the Binance Smart Chain launch of their permissionless DeFi technology. With this launch, the BSC community will be able to lend any token from the ecosystem.
UniLend stated earlier this year that it will be broadening its ambition to become a multichain protocol. In that series, Chandresh Aharwar, the CEO and Co-Founder, discussed how BSC is snowballing and making blockchain more accessible to end-users.
Binance Smart Chain’s Benefits
Binance Smart Chain, one of the most popular Block Chains, has seen massive growth thanks to fast transaction speeds and low gas fees, with nearly 90 million unique addresses and 500 dapps in development.
The reasons for this vast adoption rally on BSC from Dev’s and users include:
Huge Traction & TVL
High Transaction Volume
Low Transaction Costs
Large User Base
Ethereum-BSC Bridge, etc.
Here are some charts to showcase the same.
Number of Wallets Crossing 90 million mark |Source: https://bscscan.com/chart/address
Gas fee at near All Time Low at 5 gwei | Source: https://bscscan.com/chart/gasprice
Because of these considerations, the total number of Dapps has surpassed a thousand and may soon pass 2000 on BSC. UniLend’s Permissionless protocol will allow these dapps and tokens to participate in DeFi from the start.
UniLend has recently established a $1 million Grants Program to support new promising ideas and teams.
They support and assist in the development of the DeFi application based on UniLend Finance’s Protocol through the Grants program.
Aside from that, Unilend welcome additional tokens that wish to begin lending with them right away. Their staff goes out of its way to assist such initiatives and assist them in joining the DeFi movement on BSC. The Unilend robust community of 100k+ members will provide assistance, integrations, and promotion for these initiatives.
The objective as a community-driven initiative is to increase DeFi capabilities for the BSC community. UniLend’s protocol is permissionless, which means that anyone in the community may start using their tokens. Because of the Flash Loans Technology, the lending is also profitable. As a result, anytime someone uses Flash Loans to borrow tokens, the lenders receive 70% of the fees produced. Isn’t it fantastic?
The UniLend team is pleased to introduce this product and hopes that with the hard work, they will be able to play a key part in enabling the ecosystem. Join the communities to participate in the conversation and become a part of the DeFi movement.
UniLend is a permissionless DeFi protocol that integrates spot trading with lending/borrowing functions on a single platform. UniLend allows anyone to publish any ERC20 asset for decentralized trading and lending/borrowing, whereas other DeFi protocols only accept about 30. UniLend’s objective is to expand the DeFi sector to include the $29 billion in ERC20 tokens that are now excluded, hence their slogan, “unlocking the true potential of decentralized finance.