Announcing the Launch of UniLend Finance Token (UFT)
Our Uniswap trading pair will be https://info.uniswap.org/token/0x0202be363b8a4820f3f4de7faf5224ff05943ab1
The functions of UFT will assist UniLend and its decentralized community in unlocking the true potential of decentralized finance. Read more about the use cases of UFT in our Litepaper.
Here’s what you need to know to prepare for the token launch:
The first token listings will happen approximately at approximately 2PM UTC, 7:30 PM IST tomorrow, Thursday, October 15th. We’ve created a countdown timer for the event.
UniLend Finance Token is now live on the Ethereum mainnet. The token address for UFT is 0x0202Be363B8a4820f3F4DE7FaF5224fF05943AB1. Be cautious not to purchase any other token with a smart contract different from this one (even if it has the ticker ‘UFT’, as this can be easily faked). We strongly advise all of our community members to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.
The initial listing pair for UFT on each DEX will be UFT/ETH. When listings occur we’ll post each new DEX pool address to our Telegram channel, so people know where to go.
The base pair for pools will be UFT/ETH. KYC is not required to purchase UFT from decentralized exchanges, nor is there a minimum or maximum purchase requirement. Just be sure you have enough ETH in your wallet to cover the transaction fees.
The tokenomics for UFT can be found on the article here. Lots of excitement and emotion is to be expected around the token launch, so let us make UniLend Finance’s distribution plans explicitly clear:
- There will be no lockup period for UFT purchased during the Public Sale.
- Tokens sold during the Seed Round will be gradually unlocked until April of 2022.
- Tokens sold during the Private Round will be unlocked in phases until July of 2021.
- Tokens allocated to the team will be gradually unlocked until April of 2023.
Perfect fairness in any launch is a challenge to achieve. But as token distribution becomes more broad, as we structure the distribution thoughtfully, and as we take the proper precautions, we can prevent many things formerly said to be “unfair”. Some of the ways we have done so include:
- The smart contract address of UFT is publicly available for anyone to verify.
- There’s always the possibility that a single actor can attempt to accumulate the lion’s share of UFT. Being listed across multiple decentralized exchanges right out of the gate, gives buyers and sellers multiple markets to interact on.
- IEOs depend on centralized exchanges but we are a DeFi project from top to bottom.
- CEX auctions also rely on centralized exchanges. As a DeFi project it’s vital we have a broad on-chain distribution from the get go.
- We believe launching on multiple DEXs, and not disclosing all of those DEXs in advance, will help to prevent bots and front-runners seeking to take advantage of anyone, or corner the market.
There are pros and cons and challenging hurdles to overcome when launching a token. We’re optimistic our approach will help give everyone a fair shake on the open market.
A Final Note
Please stay safe. Do not trust any information about the UFT launch unless it comes from our official channels.
In closing, we’d like to sincerely thank each one of our backers and thank our community for supporting us. As a community driven ecosystem you have been a vital part of our success, and here’s to the future of UniLend Finance! 🥂
UniLend is a permission-less DeFi protocol that combines spot trading services and lending/borrowing functionality within the same platform.
Whereas current DeFi protocols support only ~30 assets, anyone can list any ERC20 asset on UniLend for decentralized trading and lending/borrowing. UniLend’s mission is to open the DeFi space up to the $29B of ERC20 tokens which are currently excluded from DeFi, hence our motto ‘unlocking the true potential of decentralised finance’.
UniLend plans to level the playing field and keep gatekeeping out of the equation.
Get a more in-depth overview of UniLend here: https://buff.ly/3itkI7u
The UniLend team would like to thank our community for your incredible support thus far. We remain at your disposal should you have any questions. Don’t hesitate to reach out to us!
Telegram community: https://t.me/UniLendFinance
Announcements channel: https://t.me/UniLendAnnouncement