UniLend token (UFT) is listing under the trading pair UFT/USDT on AscendEX on October 18, 2021, at 1 pm UTC.
The pair UFT/USDT will be listed on AscendEX. UniLend is a comprehensive permissionless DeFi protocol that combines both spot trading services and lending and borrowing functionality within the same platform.
The interest rates and collateralization ratio are based on supply, demand, and community governance, whereas borrowing limits are decided by liquidity in the trading pairs.
Unlike other DeFi protocols, which only support a limited number of assets, UniLend allows for any asset to list on its platform, ultimately creating immense market opportunity not only for the assets but also for the decentralized and permissionless UniLend platform.
Furthermore, UniLend plans to bridge the gap many tokens face before the DeFi ecosystem by enabling any ERC-20 token to be utilized as collateral for lending and borrowing, whilst also providing trading flexibility for users operating within the UniLend platform.
Another unique feature of UniLend is its ability to feature the coexistence of trading and DeFi capabilities within one protocol. By doing so, the protocol is helping solve the liquidity and liquidation issue currently limiting the growth of widespread DeFi adoption.
Users of UniLend are also able to create a spot trading pair and separate money markets for any token, further enabling DeFi participants to create their own lending and risk management strategies for lending, borrowing, and spot trading.
The native digital, the cryptographically-secured utility token of the UniLend platform, UniLend Finance Token (UFT) is a transferable, non-refundable, representation of attributed functions specified in the protocol and code of the UniLend platform.
UFT will serve as the native governance token of the UniLend platform and also see used as the core medium of convenient and secure exchange between platform participants.
UniLend’s introduction of UFT provides multiple use cases for community governance, platform utility, and product integration within the broader ecosystem.
UFT also incentivizes participants to contribute to and maintain the UniLend platform through economic rewards, continually encouraging the core aspects of decentralization and participation within the UniLend ecosystem.
By creating an inclusive environment for all digital assets to participate in the DeFi ecosystem, including the $29.75B worth of assets currently excluded from DeFi, UniLend is truly creating a new niche in the marketplace that has been neglected and untapped until now.
AscendEX is proud to continue its support for the growth of the DeFi ecosystem by listing projects such as UniLend.
About AscendEX
AscendEX is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 200 blockchain projects such as Bitcoin, Etheruem, and Ripple.
Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions.
AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum.
AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage. To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, visit the website.
For more information and updates, visit Twitter, Telegram, or Medium.
About UniLend
UniLend is a comprehensive permissionless DeFi protocol that combines spot trading services and lending/borrowing functionality within the same platform.
The interest rates and collateralization ratio are based on supply, demand, and community governance. Borrowing limits are decided by liquidity in the trading pairs.
For more information and updates, visit the website, Twitter, Medium, or Telegram.
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