UniLend & DFYN: Consorting to Revitalize the Future of Finance

UniLend & DFYN: Consorting to Revitalize the Future of Finance

TL;DR

  • DYFN joins hands with UniLend for revolutionizing Defi on Polygon
  • $UFT listed on DFYN Dex with UFT/DYFN pair
  • LP mining of UFT/DFYN is live with 700 $DYFN rewards per day for the next two months
  • UniLend will outfit DFYN’s token with flash loan & lending functionality
  • Our lending interface is extraordinarily easy to use and accessible in just a few short steps
  • We invite you to help us celebrate our collaboration with DFYN

UniLend’s flash loans and lending protocol has quickly become renowned. Briefly for those who might not yet be familiar, one function of our flash loans protocol is to allow users to take advantage of arbitrage opportunities without requiring upfront capital. Arbitrage opportunities are created by price disparity between automated market makers (AMMs). Thus, in order for this functionality to work, an asset must be listed on multiple exchanges within the same network. As a result of this partnership, Unilend’s native token $UFT will also be listed on the Dfyn Exchange.

As result of this partnership an UFT-DFYN farm has also been created in the Dfyn Ecosystem Farms category where 700 $DFYN tokens per day will be rewarded to stakers of UFT-DFYN LP tokens for the next 2 months.

DFYN is multi-chain decentralized AMM that launched and currently operates on Polygon but plans to expand operations to BSC, HEC, Avalanche, Algorand, and beyond in the very near future. Using DFYN, traders and speculators can swap tokens, time-lock single-asset stake the DYFN token, and yield farm for liquidity provider rewards. Additionally, DFYN’s ambitious multi-chain objectives align with UniLend’s goal of becoming a comprehensive and interoperable DeFi protocol that functions across multiple chains.

As the second DEX on Polygon to list UFT, DFYN will directly contribute to enabling the arbitrage feature of UniLend’s flash loans functionality, and UniLend is excited to also contribute to DFYN’s range of capabilities by equipping the DFYN token to be lent and used for flash loans on UniLend’s soon-to-launch on Polygon platform.

We’re overjoyed to be collaborating with DFYN to further expand decentralized finance capabilities on the Polygon Network and continue to unite DeFi protocols across the spectrum. Working with DFYN could bring substantial liquidity and utility to UniLend’s Flash Loans protocol & lending market by introducing our product to the many token communities that call DFYN’s DEX home.

An Encouraging Collaboration

This marks the beginning of what we hope will be a mutually-beneficial collaboration for both the UniLend and DFYN communities.

Soon, UniLend will launch flash loans and lending utilities for DFYN’s token. This incorporation will give DFYN holders the opportunity to lend their tokens on UniLend’s protocol and earn more DFYN while providing liquidity for our flash loans functionality.

All DFYN tokens that holders lend on UniLend will be directly deposited into UniLend’s liquidity pools, which are connected to our Flash Loans protocol and act as a source of liquidity for anyone who uses them. Thus, by providing the DFYN community with the opportunity to lend their favorite token on UniLend, we simultaneously endow our Flash Loans protocol with a lot more liquidity. Additionally, lending on UniLend provides DFYN holders (whose time-locked single asset staking pools are currently at max capacity) the opportunity to stake (lend) on UniLend and earn premiums from our rewards pool, alongside the fees generated from Flash Loans!

Lending on UniLend

Lending on UniLend is as easy as can be, but we still encourage users to do their own research before jumping in. For those who would like to know more about how the lending process works and how to do it on UniLend, please check out our comprehensive written or video guide.

Briefly, the main steps for anyone looking to lend on UniLend include:

  • Visiting UniLend’s official lending interface
  • From the four buttons on the top (Lend, Redeem, Reward and Airdrop), simply use the “Lend” button to stake your tokens and the “Redeem” button to remove them from the lending pool.

Make sure to never accidentally use the Reward & Airdrop buttons as they will take all your tokens and distribute them to the community.

Aligning Synergistic Communities

UniLend is working with many great projects to create mutually beneficial relationships. Our collaboration with DFYN is particularly important as this listing will enable UFT arbitrage on Polygon.

Much like DFYN, UniLend prizes multi-chain collaboration across DeFi ecosystems. We hope our communities see that we’re working hard to create an environment where cross-collaboration allows an abundance of opportunities to effloresce.

There’s no time like the present to join our enthusiastic and accomplished community. If you’re looking to join the decentralized finance movement, then you’ve come to the right place. Enjoy this moment in history; it’s the beginning of a monumental shift. Come join your like-minded brethren to discuss the future of DeFi on any of our social platforms today.

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UniLend is a decentralized protocol that combines spot trading & AMM with lending and borrowing services through smart contracts. https://unilend.finance