Unilend: Ushering in a New Era of Transparency with Covalent
UniLend Finance and Covalent, the top blockchain querying service, have announced a technological alliance.
UniLend enables lending and borrowing without requiring authorization, allowing DeFi to reach its full potential. Furthermore, the collaboration with Covalent will allow Unilend to collect data on very complicated motions and processes.
Covalent offers unified APIs that give total asset transparency and visibility across all blockchains. Their advanced indexing and query engine seamlessly covers a wide range of use cases and ties together their efforts at UniLend.
For a smooth experience, Unilend will use Covalent’s API services to access blockchain data across Polygon and Binance Smart Chain.
Providing a Consistent User Experience
UniLend is more than just a next-generation protocol with the industry’s most comprehensive set of DeFi services; it’s also a community of people working together to fuel DeFi 2.0. This connection will give a new route of awareness creation from their increasing community and user base, in addition to utilizing Covalent’s deep indexing capabilities.
Covalent provides a uniform API that allows assets to be fully transparent and visible across all blockchain networks. Covalent’s patented technology allows for a “no-code” solution that addresses a wide range of use-cases, including wallets, exchanges, custodians, and taxation. Furthermore, its API provides simple access to normalized, unified, and granular data.
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.