- ProBit, one of the largest and most liquid cryptocurrency exchanges in the world, joins UniLend’s ecosystem to offer DeFi functionality to their users
- The partnership with UniLend aims to provide ProBit users with new DeFi capabilities in future
- UFT will be listed on Probit on Dec 4th, more details to come in the coming days
- ProBit’s strong user base and global outreach will increase the strength of liquidity on UniLend whilst contributing to the overall momentum of DeFi together
- This collaboration will accelerate DeFi adoption by bringing CEX users to DeFi
As DeFi heats up we’re always looking to join forces with like-minded projects. The right collaborations will advance our mission to unlock the true potential of DeFi. Today’s collaboration strategically places UniLend ahead of the pack, by further strengthening what’s already a robust protocol.
ProBit, one of the top 20 cryptocurrency exchanges in the world, has made plans to be a part of the UniLend ecosystem. Our goal will be to enable Probit users to be able to utilize exclusive UniLend Finance features. This collaboration aims to bridge CEX with the DeFi space.
By working together, UniLend and ProBit will greatly benefit our respective communities and provide a leap forward for all of DeFi.
In addition to the aforementioned goals, UniLend Finance’s governance token UFT, will be listed on the ProBit Exchange on Dec 4th. We are very excited to kick this collaboration off with this special listing, which we will have more to announce about in the upcoming days.
UniLend & ProBit Collaboration
UniLend Finance provides a permissionless listing mechanism for any ERC-20 token. Users on UniLend can utilize the permissionless listing mechanics to easily list any ERC-20 token they have without needing an authority’s approval. Once the token is listed, any user can either trade, or add liquidity to its liquidity pool to take advantage of liquidity mining and yield farming opportunities.
As a leading cryptocurrency exchange, ProBit offers around 400 tokens — pretty impressive. The partnership between UniLend Finance and ProBit Exchange will explore possibilities for ProBit users to interact with tokens listed on UniLend without leaving the ProBit platform via UniLend’s permissionless listing capabilities.
An additional benefit for ProBit users is the ability to liquidity mine UFT tokens by providing liquidity to UniLend. This means users of UniLend’s interface, once it is natively integrated into ProBit, can farm UFT. This mutually beneficial arrangement will provide a catalyst for the growth of liquidity on UniLend, whilst allowing ProBit users to receive UFT via liquidity mining.
In addition, ProBit users can collect the 0.3% trading fees on UniLend by simply providing liquidity on our trading pools. These fees are called automated market maker (AMM) fees, and they’re one of the best methods to earn a passive income in DeFi. When you combine these trading fees with the passive yield farming of UFT tokens, ProBit users stand to greatly benefit from this opportunity.
ProBit is currently one of the top 20 cryptocurrency exchanges on the plane, with a massive active user base and community. The amount of active monthly users on ProBit number in the hundreds of thousands, roughly over 800,000 monthly users according to their estimates. The ProBit community is also huge, with over 100,000 members, and a lot of engagement.
Having a massive global community and strong user base makes ProBit one of the most liquid cryptocurrency exchanges in the world as well. Integrating UniLend’s trading interface onto the ProBit platform allows their users to access our DEX directly from ProBit. This will give ProBit users a very convenient and familiar method to transition into DeFi, while also bolstering the liquidity on our platform.
Conclusion: Bridging CEXs and DEXs
ProBit joining the UniLend ecosystem by integrating our DEX onto their platform is not only a momentous occasion for us, but for all of DeFi. This collaboration will facilitate a major leap forward in terms of bringing the general crypto world into the decentralized revolution.
As a second mover, UniLend was built from the ground up after meticulous analysis to enable the integration of the residual cryptocurrency market into DeFi.
At UniLend, whenever we integrate a project into our ecosystem, we always keep the well-being and interest of our community in mind. If you have any questions about the project or our collaborations please feel free to reach out to us.