UniLend’s permissionless lending and borrowing protocol is reshaping the future of DeFi

UniLend Finance introduced UniLend v2 in their protocol update blog. Anyone may now lend and borrow any ERC-20 token, just as anyone can now trade any token on a decentralized exchange (DEX) without authorization, according to the update.

The Binance Innovation Zone initiative, which launched earlier this year and has already produced a volume of over $10 million, allows lending for all tokens as well as fast loans.

UniLend will be able to handle lending and borrowing of over 9000 assets, according to the developers, who wrote an inaugural blog describing several new features in their next edition. This August, the system went live with the permissionless listing of any token. As a result, it now supports over 25 cryptocurrencies for lending and non-collateralized borrowing via flash loans.

UniLend will be able to tap into the untapped $500 billion crypto market size without facing considerable competition thanks to this huge protocol improvement. First, let’s go through some of the UniLend v2’s important features:

The community considers UniLend Finance’s v2 to be the most decentralized money market protocol. UniLend’s v1 is already active on three popular blockchains: Ethereum, Binance Smart Chain, and Polygon, with v2 expected to be live on all of them soon.

About Unilend Finance

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.

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