Working as a powerful decentralized finance protocol that uses smart contracts to fuel trading and lending, UniLend has taken a step further to expand its network by going live on the Binance Smart Chain ecosystem.
According to the announcement, the integration will allow UniLend to launch its revolutionary permissionless DeFi protocol on BSC along with seamless access to the wide range of its lending and flash loan products. With the Binance Smart Chain, UniLend users will be allowed to initiate a lending pool for any available asset on the blockchain network. Those using the BSC channel will also enjoy easy lending of any token of their choice from the variety of options available for them.
The innovative and user-friendly interface of UniLend will facilitate quick lending functionality for investors against their preferred tokens. This will help gain immediate liquidity for the Flash Loan products offered by UniLend. Similar to its previously adopted policy, UniLend will offer 70% of the fees earned from Flash Loans to the lenders or investors on the Binance Smart Chain. The DeFi protocol runs successfully on the Ethereum and Polygon chains with more than $6 Million worth of assets locked against over 25 digital tokens.
Talking about this significant development, the CEO and Co-Founder of UniLend, Chandresh Aharwar, commented that DeFi would keep on expanding and become a part of several blockchain channels. The team is confident that though Ethereum will be the leader in this sphere, other potential blockchains like the BSC will also fuel growth. UniLend aspires to leverage the full potential of DeFi for revolutionizing a variety of industrial sectors.
UniLend’s partnership with the BSC can be seen as strategic development as the blockchain network is fast-evolving as a popular brand in the crypto domain. With nearly 90 Million addresses and over 1000 DApps using BSC, the community is huge. This can help UniLend strengthen its hold in the market space. Fast speed, high scalability, and a cost-effective interface make the Binance Smart Chain a bankable network for partnering firms. UniLend will incubate the BSC-based DApp solutions and their tokens by giving them access to the massive DeFi pool right from the beginning.
UniLend Grants Program
The UniLend team has announced a $1 Million worth Grants program that will help nurture high-potential firms and projects. The program will enable developers to build DeFi apps on the UniLend protocol. The team promises to provide necessary guidance, integrations, and marketing support to its partnering firms by constant support from the thriving industry.