UniLend Finance 2022 Year in Review

7 min readJan 2, 2023

Overall, 2022 has been a challenging year for the web3 and cryptocurrency industries. The crypto market has struggled, with many projects experiencing significant declines in value. However, despite these challenges, there has been continued interest in the space from investors and the general public. The web3 industry, which is still in its infancy, has continued to evolve and progress, with new projects and developments emerging. Despite the difficult conditions, there is still hope for the future of web3 and crypto as these industries continue to mature and gain mainstream adoption.

Despite the challenges faced by the industry in 2022, the UniLend team has continued working relentlessly toward our vision. Our focus has always been on developing and safe, secure, and efficient permissionless money market.

Development Milestones

This year, we launched our version 2 testnet which was well received by the community. We saw 30k+ transactions across 10+ liquidity pools participating in our testnet.

Protocol security and safety of users’ funds is a priority for the UniLend team and we left no stone unturned to ensure that. UniLend V2 smart contracts and audited by Peckshield. We also have a smart contract bug bounty on Immunefi for hackers to report vulnerabilities in our protocol, if any.

UniLend V2 is a major step forward in bringing our vision of making every asset productive to fruition. UniLend V2 opens up new frontiers for web3 enthusiasts with limitless possibilities.

UniLend V1 also found a new home in 2022 with the Moonbeam ecosystem. The UniLend V1 went live on Moonriver as the first-ever flash loans provider on Polkadot’s favorite parachain.

The UniLend team has always believed in the Ethereum ecosystem and open-source narrative. UniLend V2 smart contracts are open-source on GitHub and available for anyone to use under the license agreement.

Major Highlights

Our UniLend v2 testnet has been very well received by the community. UniLend v2 helps overcome the limitations of money markets in web3 which act as a barrier to entry for new digital assets.

With our testnet, we aim to highlight the need for isolated pools for their endless potential, high security, and far better risk management.

Launched World Cup Fan Tokens on UniLend v2

The launch of World Cup fan tokens on UniLend V2 is a testament to the importance of permissionless money markets in web3. The ability to leverage real-world events for one’s profitability is just one of many applications of a permissionless lending and borrowing platform.

With a grand vision, UniLend is ready to change the entire web3 ecosystem for good.

Partnering up with Binance Oracle

We at UniLend understand the importance of reliable oracle price feeds to maintain the security of the protocol and ensure the smooth functioning of the platform. Building on that front, UniLend has partnered with the Binance Oracle team to boost the growth of Binance Smart Chain DApps.

UniLend has joined the Early-Bird project on Binance oracle and will work closely with their team to integrate assets for lending and borrowing on Binance Smart Chain.

Coinbase Custody and Wallet Listing

Being in Web3 comes with its own challenges such as the security of funds while using exchanges or simply hodling. Our governance token $UFT being a part of Coinbase Custody allows institutional and fund managers to securely deposit and withdraw funds on the world’s most trusted crypto cold storage.

Auditing and Security

The UniLend team has their priorities straightened out, the sole focus of our team while working on v2 has been the security of the protocol. To ensure that the product is safe and not exposed to any exploits, we have completed our audits from Peckshield.

There are many hackers in the web3 space that contribute to a protocol’s security by participating in bug bounty contests. Our team rewards and appreciate such great minds, hence it was only logical that such experienced devs audit UniLend v2 contracts. Immunefi has a large user base of developers and hackers that participated in our bug bounty and reviewed the v2 contracts.

Listings/Exchange Initiatives

UniLend’s governance token UFT is easily available for trading on some of the major exchanges including Binance, ProBit, Gate.io, and many more.

UFT was also listed on Huobi Global, a prominent exchange with 10 million+ users. Huobi supports the deposit and withdrawal of $UFT on Ethereum, Polygon, and Binance Smart Chain networks.

Binance now also supports UFT in Binance convert where any user can easily convert any token directly to UFT with ease.

It was a delightful moment when Coinbase custody listed UFT on their platform. Institutional investors and fund managers can securely deposit and withdraw UFT on their highly trusted crypto cold storage, Coinbase Custody. Users can even trade UFT easily on the Coinbase wallet with any other supported asset.

Strategic Partnerships

UniLend ecosystem grows stronger by the day with more than 80 strategic partnerships. UniLend has forged partnerships with the best players in the industry to stay ahead of the game and provide users with a seamless experience.

UniLend has partnered with many mobile wallets such as Coin98, Math Wallet, Frontier, etc. Users of these mobile wallets can easily access UniLend V2 via their DApp section and begin their journey of permissionless lending & borrowing.

UniLend has collaborated with some of the best oracle services to access their reliable price feeds to avoid any price manipulation exploit. We recently joined hands with Binance Oracle to strengthen our position in the Binance Smart Chain ecosystem.

Our collaboration with Supra Oracles and Red Stone established our presence in the DeFi where any other projects can access UFT price feeds to integrate $UFT on their DeFi DApp.

Community Outreach

UniLend has grown to an outreach of 150k+ across more than 10 distribution channels. UniLend has 7 geographic locations and a huge global audience.

Community is an integral part of any Web3 platform, and UniLend has always worked towards increasing awareness among the masses regarding our mission to revolutionize DeFi.

Conference, Talks, AMAs & Events

2022 saw a growth in global Web3 events after recovering from Covid-19.

Our co-founders Chandresh Aharwar and Tarun Malik joined an exciting panel discussion at Moonriver Ecosystem Festival. Our CEO Chandresh Aharwar also joined an exciting panel discussion at ETHernals: ETHIndia Online Hackathon 2022 by Devfolio. UniLend also held a panel discussion; Unveiling Building Blocks of DeFi 2.0 on Binance LIVE.

Interview

Twitter Spaces AMA in other communities:

Telegram AMA in other communities:

AMA in UniLend Community

Wrapping up 2022 & Welcoming 2023

We part with 2022 on successful terms and are ready to explore new challenges that await our journey in 2023.

UniLend has the vision to become the base layer of the DeFi revolution where all innovation happens. Our journey to make all digital assets productive is just beginning. We made several contributions to the Ethereum ecosystem and partnered with major blockchains and web3 protocols.

2023 will be full of new challenges that drive our team to innovate and constantly evolve as the industry evolves. UniLend is here to stay and change how we see DeFi forever.