UniLend will be launching on Moonriver as the First Protocol to provide FLash Loans on Kusama Ecosystem
UniLend Finance, a permissionless lending and borrowing protocol with the vision of making all digital assets productive, truly believes in the multi-chain idea. The key to decentralization is interoperability, and UniLend Finance has always supported this narrative.
As a part of UniLend’s multichain DeFi agenda, we announced our entry into the Polkadot ecosystem. We have successfully launched our UniLend V1 on the 3 most adopted Blockchains, Ethereum, Binance Smart Chain and Polygon.
We have always had Polkadot in our focus because of their tremendous hard work in making the next generation of interoperable blockchain networks.
Keeping this in mind, UniLend Finance is happy to announce its integration on Moonriver.
Moonriver has the most powerful EVM-compatible smart contract platform on the Kusama network, making it effortless to build natively interoperable decentralized applications. Moonriver’s unmatched Ethereum compatibility has allowed the network to support the expansion to Kusama for over 60 projects, becoming the most active parachain with 10M+ transactions and 352k+ wallets.
Furthermore, using Moonriver’s technology, developers can deploy existing Solidity smart contracts on Kusama. Recently, the daily transactions on the Moonriver network crossed the 400k+ mark as per Movr News
UniLend Finance has already achieved $30 million Flash Loans volume in a short time from 25+ tokens lent on our Platform. Users can utilize Flash Loans by interacting with our Smart Contract. Blockchain Projects are utilising this service with uBoost dapp, which is a UniLend grants project, for the market making of their token on DEXs at a very low cost.
Launch on Moonriver
To kick-off the integration, UniLend V1 will be launched on Moonriver as the first-ever flash loans service on Kusama. Moonriver is a parachain on the Kusama network that completed its launch in August this year, while Moonbeam will start its launch process to Polkadot later this month. Moonriver is a sister network of Moonbeam that provides an Ethereum-compatible environment on Kusama for testing under real economic conditions. That means developers have access to Moonriver to begin building, experimenting, and launching DApps on the canary network.
“It gives me immense pleasure to expand UniLend’s Permissionless DeFi growth to the most widely Adopted parachain of Kusama Network. We will be deploying our UniLend v1, which is going to be the first Flash Loans provider on Kusama Network. This partnership also masks the entry of UniLend to the most anticipated Blockchain network, PolkaDot”
-Chandresh Aharwar, Co-Founder and CEO of UniLend Finance
“Lending and borrowing use cases are the backbone of developing a DeFi ecosystem, but until recently the lack of necessary infrastructure has prevented these use cases from deploying to Moonriver,” said Derek Yoo, Founder of Moonbeam. “UniLend helps fill this recently-opened space with its unique approach and cost-effective operations. We are pleased to welcome UniLend to the Moonriver ecosystem.”
-Derek Yoo, Founder and CEO of Moonbeam
About the Moonbeam Network
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network, making it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. As a parachain on the Polkadot network, Moonbeam will benefit from the shared security of the Polkadot relay chain and integrations with other chains connected to Polkadot. Currently, in active development by PureStake, Moonbeam is expected to reach MainNet by January 2022. Learn more: https://moonbeam.network/