UniLend 2023 Year in Review: Testnet Thrives, Charting the Course to Mainnet in 2024!

UniLend Finance
12 min readJan 5, 2024

Closing out 2023 on a high note. With the UniLend V2 Mainnet launch in sight for 2024.

Let’s rewind our epic 2023 journey — from the Governance Launch to acing the V2 Testnet, strategic partnerships, new UFT listings, and beyond. Our UniLend V2 protocol has been a trailblazer in the crypto world, reshaping lending and borrowing in the web3 space.

In this Year in Review, we’ll spotlight the key milestones, innovations, partnerships, and community efforts that propelled UniLend’s success in 2023. Without further ado, catch our highlights here!

Development Milestones

Throughout the year, our groundbreaking lending and borrowing protocol, UniLend V2 testnet, has seen a notable surge in interest and adoption within the DeFi space. The platform has facilitated over 100k transactions, with more than 12k users, and launched 50+ liquidity pools.

This achievement signifies a substantial milestone in the platform’s growth and highlights its significant impact within the decentralized finance landscape.

UniLend V2 launch on Polygon zkEVM Testnet

Following the successful launch of UniLend V2 on the Ethereum Sepolia Network, we kicked off 2023 with the introduction of UniLend V2 on the Polygon zkEVM testnet. As part of our multi-chain DeFi agenda, our goal is to empower users and enhance the productivity of every digital asset.

With the V2 launch on Polygon zkEVM, we took a significant step forward to scale our protocol. This advancement enabled us to offer users lightning-fast transaction speeds, increased scalability, and enhanced security. Users can experience UniLend V2’s permissionless lending and borrowing more efficiently, affordably, and securely with innovative features: Isolated Dual Asset Pools, NFT tokenization, and Concentrated Liquidation. Our permissionless lending and borrowing functionality will empower every token on Polygon zkEVM, providing comprehensive DeFi functionality to the community. At UniLend, we aim to make every digital asset productive, regardless of the chain on which they are based.

Unstoppable Domains Integration

Adding a personal touch to the UniLend V2 experience, we’ve seamlessly integrated Unstoppable Domains on the V2 Testnet. This integration empowers users to connect their wallets and replace mundane wallet addresses with unique Web3 domain names, enhancing user personalization.

Governance Launch

In September 2023, UniLend Governance was launched, granting the community voting power and enabling members to actively participate in decision-making processes. With the establishment of this governance structure, users now can directly shape the trajectory of UniLend. This framework not only enriches community involvement but also strengthens the utility of the UFT token, fostering innovation, decentralization, and inclusivity. Users can effortlessly submit proposals, engage in discussions, cast votes, and see their ideas come to life.

In the initial month following our launch, we observed remarkable growth in community engagement within our Governance. With eight proposals on our governance forum during this period, the UniLend community has played an active role in shaping the evolution of the UniLend ecosystem. This marks a pivotal milestone in our journey, signifying a foundational step toward achieving genuine decentralization within UniLend Finance. Join the UniLend Governance Forum on Commonwealth and become an integral part of UniLend’s protocol.

UFTG Launch: PortKey to Community Governance

With the launch of our Governance, we introduced our governance-wrapped token — UFTG (UniLend Finance Governance Token). UFTG serves as the governance token encapsulating native UFT tokens, requiring users to participate in governance. Users can seamlessly swap 1:1 between UFT and UFTG. UFTG stands as the cornerstone of our Governance model, serving as the key that opens the door for community members to actively shape UniLend’s future. Owning UFTG is your ticket to becoming an integral part of our governance processes. It acts as a gateway to our governance, but let’s be clear — it’s a wrap, not a new token. UFTG is a symbol of our commitment to community-driven decisions and a decentralized future.

UFTG Smart Contract Successfully Audited by PeckShield. The security of our ecosystem users is our topmost priority, and our commitment to robust security measures remains unwavering.

Introduce UIP (UniLend Improvement Proposals): Fostering Community-Driven Innovation

UniLend Improvement Proposals (UIPs) form the backbone of our primary governance mechanism. Authored by either team members or the community, these proposals drive impactful changes within our product suite. Crafting UIPs is an open opportunity for any community member, provided they adhere to the template and meet minimum criteria. Engage in discussions, cast votes, and participate in UIPs to actively shape our protocol by introducing new features, upgrades, and more.

We’ve also created a comprehensive governance documentation, empowering users to engage in discussions and vote on platform matters. By actively participating in our discussion forum and implementing their ideas, community members become instrumental in influencing the future direction of UniLend.

UniLend V2’s New UI

Ahead of the UniLend V2 mainnet launch, we’ve revamped the UI with cutting-edge features, ensuring a sleek, intuitive, and innovative user experience. This isn’t just an upgrade; it’s a significant stride in our DeFi revolution. Explore our new user interface with enhanced features:

1. One-Click Pool Switching: Effortlessly switch between liquidity pools directly on the lend/borrow page.

2. Effortless Sorting: Quickly sort liquidity pools based on various criteria for instant access to the most relevant options.

3. Responsive Design: Enjoy a polished interface across desktops, tablets, and smartphones, making DeFi universally accessible at any time and from anywhere.

Major Highlights

Mainnet Uprising: UniLend Tech Updates Q3 2023

As we approach the V2 mainnet launch this year, we introduced an initiative to keep our community updated on the behind-the-scenes tech developments by our engineering team, focusing on the creation of a new era of permissionless and decentralized lending and borrowing protocol.

Key highlights include the launch of Governance, the development of a modern liquidation mechanism, the revamping of the UniLend UI for an enhanced user experience, and the open-sourcing of UniLend v2 smart contracts on GitHub.

Launched Cricket World Cup Fans Tokens on V2!

In the spirit of the Cricket World Cup, we’ve introduced our World Cup fan tokens through the #Howzzat campaign, unleashing the power of cricket fandom.

With the launch of cricket match pools, UniLend showcases the adaptability of a permissionless lending and borrowing platform through real-world events. The introduction of World Cup fan tokens in Web3 is poised to redefine fan interactions with their favorite teams, offering innovative lending and borrowing opportunities for the sport.

This initiative demonstrated the transformative potential of decentralization and the permissionless nature of Web3 protocols, providing fans with enhanced control over their tokens. By offering greater control over digital assets, it creates fresh opportunities for fans to actively engage with their favorite teams. UniLend stands on the brink of revolutionizing the world of cricket.

UniLend V2 Testnet $5000 Campaign Concluded

To mark the V2 launch, we invited users to test our new lending and borrowing system, and the community’s response exceeded expectations. With valuable feedback, we’ve enhanced the V2 testnet for a smoother experience. The UniLend team is committed to continuous development, ensuring an improved platform for seamless lending and borrowing — an environment that caters to the needs of web3 users.

UniLend V2 has been a success on the Testnet

UniLend V2’s success on the Testnet marks a significant milestone achieved through two years of rigorous testing, community feedback, and continuous development. In this journey, UniLend V2 embarked on Ethereum Sepolia and Polygon zkEVM testnets, witnessing over 100,000 transactions, engaging 12k+ enthusiastic users, establishing 50+ liquidity pools, and introducing a revamped UI that demonstrates scalability and user-friendly improvements. The integration of Unstoppable Domains added a personal touch, while successful Testnet campaigns further engaged the community and rewarded active testers with over $10,000. The conclusion of the UniLend V2 Testnet signals the exciting beginning of the Mainnet launch.

UFT Listings/Exchange Initiatives

Our much-awaited UFT/USDT got listed on Binance. UFT is available on Binance via two trading pairs: UFT/USDT and UFT/ETH. This listing significantly enhances UFT’s reach and liquidity, making it available to over 170 million Binance users.

Additionally, UFT has been listed on Bitrue and Deepcoin through the UFT/USDT trading pair, expanding UFT token’s reach to over 5.8 million users.

Binance Web3 Wallet now supports UFT, significantly increasing UFT’s exposure in the web3 space. Users can seamlessly swap UFT at unmatched rates and switch between CeFi & DeFi, all from the Binance App.

UniLend’s UFT token utilities are surging as Binance adds UFT on both Isolated Margin and Cross Margin. Users can now trade using the UFT/USDT pair, which is the supported token pair for both Cross Margin and Isolated Margin on Binance.

Furthermore, UFT token has been listed on LunarCrush Trade. UFT is among the first set of assets that users can trade on the platform. Now, users can easily trade UFT and access the latest insights, all in one place.

UFT has expanded its presence by listing on several Web3 wallets, including Plena Wallet, where users now have the option to pay fees in UFT to get any token. Additionally, UFT is available on other platforms such as Cwallet and the meta DEX Aggregator MetaMax. Furthermore, UFT token is available on non-custodial instant cryptocurrency exchanges like Changelly and ChangeNow.

Strategic Partnerships

UniLend’s ecosystem continues to strengthen and expand. With more than 100 strategic partnerships, UniLend remains at the forefront of the web3 space. Collaborating with key players, the platform is committed to providing users with a seamless experience.

We also partnered with various cryptocurrency wallets, mobile web3 browser such as Halo Wallet, Mises Browser, etc. Users of these mobile wallets can effortlessly access UniLend’s permissionless lending and borrowing protocol via their Dapp section, beginning their DeFi journey.

UniLend’s Permissionless Lending & Borrowing DApp got listed on various DApp stores such as Magic Square, Builda, Smoothie, and The Dapp List. This expansion enables us to reach a broader user base, providing them with seamless access to our innovative protocol and the ability to utilize a wide range of ERC20 tokens.

We have collaborated with Ethermail to launch our newsletter, extending the reach to over 500k EtherMail users. By signing up for our newsletter, users will receive exclusive updates directly to their web3 email inbox. UFT HODLers can expect to receive a monthly newsletter via EtherMail.

To enhance our communication and community engagement, we partnered with Dmail. UniLend’s Dmail SubHub is now available to over 3.5 million Dmail users. Users can subscribe to the UniLend SubHub channel to receive our exclusive, real-time updates.

Community Outreach

Community is the backbone of any Web3 platform, and UniLend has cultivated a robust outreach of 147k+ through more than 13 distribution channels. Across 8 geographic locations, we’ve garnered a vast global audience. This year, we expanded our community with the addition of UniLend Official Spanish Community, further enriching our diverse presence.

We have over 8 regional communities worldwide, fostering inclusivity in the DeFi space. These communities span diverse regions, including Indian, Korean, Philippines, Nigeria, Vietnam, Indonesia, Turkish, and Spanish. As the UniLend protocol evolves, our community continues to thrive, showcasing significant engagement and expansion.

UniLend has expanded its presence to new social channels, including Discord, Binance Square, Binance LIVE, and Threads. This strategic move aims to increase awareness among the masses regarding our mission to revolutionize DeFi and further expand our reach. We are committed to fostering the growth of our decentralized finance community.

Developer Support programs

As a frontrunner in the DeFi space, we accelerate the growth of the developer community and foster web3 adoption. UniLend is dedicated to empowering and supporting entrepreneurs, developers, and enthusiasts within the industry, actively contributing to the growth of the DeFi ecosystem. Sponsoring events like Plinth’23 LNMHacks 5.0 is part of our commitment to the DeFi revolution, promoting the adoption of web3. UniLend also supported MOI DevX: MOI Singapore Token2049 Bootcamp with $1000 worth of UFT in Bounty Rewards.

Conferences, Talks, AMAs & Events

In 2023, the crypto and DeFi space were buzzing with events. We showcased UniLend Governance on Binance LIVE, attracting over 2.5k people.

We attended some prestigious summits and conferences, including:

Our team had an exciting time connecting with web3 BUILDers and projects, engaging in discussions to explore fresh possibilities within the DeFi ecosystem and forming new synergies to collectively innovate in the web3 space. We spread the UniLend revolution and expanded our reach.

AMA in other communities:

Panel Discussion

AMA in UniLend Community:

Community Initiatives

Monthly Catch-Up on Binance LIVE

As part of our community initiatives, we host monthly catch-ups on Binance LIVE for our community members. During these sessions, we delve into discussions about the latest updates and insights, providing an opportunity to answer the community’s questions.

Binance Campaigns

This year, we collaborated with Binance for two exciting campaigns. In the “Ready to Dive into UniLend V2 action on Binance”, participants had the chance to win 43,000 UFT rewards. To participate, users needed to complete the UFT Quiz on Binance, and the winners received free UFT Locked Products positions.

We initiated a campaign on Binance, where we invited new users to join the UFT journey on Binance and seize an opportunity to win 45,000 $UFT rewards. Participants simply need to complete their First Trial on Binance and took things to next level with P2P Express & Locked Simple Earn.

To celebrate UFT’s availability on the Binance Web3 wallet, we organized a meme contest for our community members, and it received overwhelming participation and engagement.

UniLend x Binance AMA Series

Taking UniLend V2 Global with Binance. We’ve launched the UniLend x Binance AMA series to take the UniLend V2 revolution across Binance regional communities. Through interactive AMAs, rewarding quizzes, airdrops, and more, we aim to spread awareness and foster the adoption of our permissionless lending & borrowing protocol within Binance’s extensive and diverse user base. The initiative includes organized AMAs and quizzes in various Binance regional communities, such as Binance Argentina, Binance España, and Binance French Community.

Expanded UniLend Legion Ambassador Program

We have expanded our UniLend Legion Ambassador community and are actively onboarding new legions. UniLend is constantly seeking individuals from around the globe with diverse skill sets and a passion for decentralized finance. The response has been tremendous, and we have successfully onboarded some of the most talented legions.

Governance Odyssey

As we launched our Governance framework, we unveiled the ‘Governance Odyssey’ Series. Throughout this series, we released a collection of blogs, articles, and videos to educate the community about the intricacies of UniLend Governance, covering topics such as the Proposal Framework, Key Features, the introduction of the New Wrapped Governance Token (UFTG), and much more.

Did you Know?

Introduced UniLend’s “Did You Know” series following the remarkable response to our educational Insider Series. This new series aims to highlight Key Milestones, share interesting facts, showcase benefits and much more. Every week, we shared short, easy-to-understand information about UniLend’s capabilities in the DeFi space, providing valuable education to our community.

Kickstarted SOE & POU

We’ve revived our two beloved community initiatives — Pride of UniLend and Shield of Excellence. As our community flourishing and new members actively join to support our DeFi revolution, special NFTs were distributed to those in POU and SOE who showcased outstanding contributions.

Wrapping up 2023 and Welcoming 2024

As we bid adieu to 2023, UniLend stands on the brink of exciting possibilities, eagerly anticipating the opportunities that lie ahead in 2024 with the upcoming mainnet launch of UniLend V2. After successfully navigating through rigorous testing, community feedback, and continuous updates, UniLend V2 has concluded its testnet phase.

The launch of UniLend governance represents a significant milestone in our journey. We are now entering a new chapter in our journey. UniLend envisions itself as the base layer for all DeFi applications, positioning itself at the epicenter of innovation. Our mission to enhance the productivity of all digital assets is just beginning. We have actively forged partnerships and contributed to the ecosystem with major blockchains and web3 protocols in the past year.

The year 2024 holds the promise of abundant opportunities and challenges that will propel our team’s innovation and evolution alongside the dynamic developments in the industry. Stay tuned for exciting updates in the upcoming days.

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UniLend Finance

UniLend is a Multichain protocol for Lending & Borrowing all ERC20 tokens permissionlessly. Website: https://unilend.finance