UniLend Project Updates #6 — March 2021
🚀 This month, UniLend has marched forward with speed and determinism. We’ve had several major developments including the launch of our permissionless flash loan product on the Ethereum mainnet, which also signalled the launch of UFT staking through our intuitive interface and the completion of our Certik audit. We’ve forged new collaborations with other industry pioneers, and continued our community outreach efforts. In short, we’ve been moving as fast as the rocket we’re on!
🐛 We hope you’ve been with us every exciting step of the way and that you’ll stay with us as we continue to grow, develop, and add new functionality. There’s never a dull moment in the blockchain space, and with UniLend, each day brings exciting new developments. It’s good to be early!
💐 As we spring into April, UniLend is showing no signs of cooling down anytime soon. We have so much more to share with the amazing UniLend community.
Major Highlights
UniLend is Now Live on the Ethereum Mainnet
March 30: We were recently over the moon to announce that UniLend is now LIVE on the Ethereum mainnet! Hodlers are now able to stake UFT at their heart’s content! 🎉
💎 1% of the staking rewards pool will be distributed to stakers every day. Initially we deployed a staking cap and soft guarded launch of 1M $UFT tokens, though this number was quickly met and we removed the cap instantly! Stake your UFT here: https://app.unilend.finance/lend
ℹ️ Check out our comprehensive guide: rb.gy/qtftep
🦾 This is only the beginning for UniLend. We’ll be continually adding new functionality as we push ahead to unlock the true potential of DeFi. Stay tuned for further updates!
🗞 Read our mainnet launch blog here: rb.gy/duxktu
UniLend to Launch on Binance Smart Chain: Unlocking the True Potential of DeFi on BSC 🚀
March 18: 🦾 UniLend will become a multi-chain protocol with our launch on Binance Smart Chain in addition to Ethereum, offering the most comprehensive set of DeFi services on BSC! This is a major step forward for both UniLend and the BSC DeFi ecosystem.
✅ Any BNB, BUSD and BEP-20 token holder will be able to utilize UniLend for decentralized trading, lending, borrowing, flash loans, yield farming, and much more.
🤝 UniLend aims to provide all prominent DeFi communities with the freedom to unlock the full DeFi potential of their assets. Our expansion to BSC is a major step forward in cementing UniLend’s place at the forefront of DeFi.
🌐 Read the full details: https://rb.gy/2bzhec
Cheers to the bright future of UniLend and the BSC DeFi ecosystem! 🥂
We Hit $6 Million TVL in our Staking Contract
March 31: $UFT staking is sizzling hot right now🔥
🤯More than $6 million worth of UFT tokens were locked in staking by the day after our staking launch.
🚀The game has just started, with permissionless staking for all tokens, sky’s the limit!
UniLend’s Flash Loans Pass Certik Audit with Flying Colors
March 26: 🚀Flash Loans, one of the core product offerings of UniLend’s comprehensive DeFi platform has been developed and its audit by Certik is now complete. The audit began immediately after the development and it went smoothly.
🛡The community has been highly anticipating Flash Loans but doing due diligence and performing this audit was in the best interest of the community. Constantly maintaining cybersecurity is the backbone of any great DeFi project.
💰Unlike traditional security audits, Certik’s Formal Verification audits mathematically prove program correctness and hacker resistance. Ensuring the best cybersecurity for UniLend is very important to us.
✅ Check the report here.
UniLend’s Flash Loans are 3x More Cost-Efficient than Other Popular Protocols Like Aave!
March 12: 📈 UniLend’s competitive flash loan product is poised to receive more traction than other products like it on the market today due to its cost efficiency and permissionless nature.
🔎 We test ran our flash loan iteration as a test before the recent launch and the results were astounding; we netted much better results than expected!
🚀 This is a great accomplishment for our team and we’re excited to get our flash loans officially launched and made available to the public.
🌐 Read more here: https://rb.gy/4ghyzy
UniLend Introduced an Innovative Token Burn Mechanism
March 24: 💎 We initiated a token burn mechanism alongside the launch of our flash loans product this month, reducing the supply of UFT while rewarding UFT stakers!
✅The UniLend flash loan fee of 0.05% is divided as follows:
• 70% is distributed to Token stakers
• 30% is used for market buy UFT, which we then burn
🚀 If we achieve a similar amount of traction as Aave’s flash loans (which are much less competitive compared to ours), this would result in over $1.7 Mn worth of fees every year.
💥 Say hello to a DeFi governance token jam packed with functionality and deflationary in nature!
🌐 Token burn details: https://rb.gy/aoh7go
Behold the First-Ever UniLend Flash Loan!
March 31: ⚡️ Our first flash loan was recently discovered on Etherscan, and we’re very excited to share the details!
💎The loan was a size of $403,936 which was 150K UFT at the time.
📊 This user just saved massively on fees, by paying our low flash loan fee of 0.05%. If they were to use a competing protocol like Aave they would’ve paid a 0.09% fee for the same transaction.
🛣 We have a long road ahead of us and we’re ready for the challenge. We won’t stop marching forward by continuing research for new and state-of-the-art ways to update our existing protocol.
📝 Get all the details about the first UniLend flash loan in our most recent blog.
UniLend Will Reward UFT Stakers with $100K UFT
March 30: 👀 With the launch of staking, we have begun to provide 100,000 UFT rewards for the Rewards Pool.
🎁 Our rewards pools are fully decentralized, so anyone can add rewards to them. Projects & users can use it at any time to add rewards for all UFT stakers! Rewards will be distributed through the automated staking rewards pool.
⏰ Currently the APY is near 17%. As more stakers are onboarding to the platform, the APY will decrease in order to accommodate all stakers. It pays to stake your UFT early!
👏We’d like to thank the community for their astounding support and will continue to push out the newest innovations to provide a truly decentralized lending protocol to unlock lending for ALL assets! To kickstart our staking feature, we will be providing 100,000 UFT in the beginning to the UFT Rewards pool.
👉 Learn how to stake here:https://unilend.medium.com/unilend-is-now-live-on-the-ethereum-mainnet-get-ready-to-lendyour-uft-63d628b7ba75
Retweet for 10,000 UFT Airdrop Event
March 31: To celebrate, if this tweet gets retweeted 1000 times, we’ll airdrop 10,000 $UFT to our stakers! 🥳
🤑 That’s over $27,000 USD!!!
⌛️If you haven’t staked your $UFT yet, stake now!
🌐Access the UniLend application here.
Collaborations & Integrations
Tidal Finance Joins the UniLend Ecosystem to Provide DeFi Insurance for Our Users!
March 1: 🛡 Tidal makes DeFi safer by providing insurance coverage for assets across chains in custom balanced liquidity pools. We’re excited to have Tidal Finance join the UniLend ecosystem!
🤝 Through this collaboration, Tidal will provide UniLend users with next-gen DeFi asset insurance. UniLend’s protocol abilities including lending/borrowing and trading of any ERC20 asset through various pools can be insured by Tidal Finance.
🪂 Our partnership will increase UniLend treasury fund efficiency, attract more capital to UniLend and accelerate adoption. This is a major step forward on our mission to cultivate a DeFi 2.0 one-stop-shop experience for the community.
ℹ️ Read more: https://rb.gy/xfi70y
UniLend & Ramp DeFi Joined Forced to Unlock DeFi Functionality for Untapped Staked Capital
March 2: 🏦 Ramp DeFi enables stakers to unlock liquid capital from their staked digital assets via rUSD token. Users will be able to bring these tokens to UniLend Finance to swap for stablecoins like USDC or USDT to then redeploy into other yield rewarding DeFi strategies.
🚀 Furthermore, we are thrilled to let everyone know that Ramp DeFi will bootstrap the initial liquidity for the rUSD and eUSD pools on UniLend. To top it all off, we’re exploring further collaborations for the future.
💥 Innovators such as Ramp DeFi are on the bleeding edge of DeFi and when combined with our protocol we’re ushering in the future of DeFi 2.0.
🌐 For more details read here: https://rb.gy/bgk0wa
YOP will Integrate UniLend’s Platform for Yield Optimization, Giving UniLend Access to the Huge Mobile User Base!
March 16: 📱We were thrilled to announce that YOP is joining the UniLend ecosystem! YOP is an innovative, new, chain agnostic project focused on creating a user-friendly DeFi experience on mobile devices.
💸 YOP customers will gain access to a wider range of DeFi services such as lending, borrowing, and more elements from UniLend’s extensive tech stack that will allow users to more effectively optimize their yields.
🤝Collaborating with YOP will position UniLend as one of the earliest DeFi platforms to offer a user-friendly mobile experience, giving us access to a new user base.
💫 We look forward to a long and fruitful relationship with YOP. Please join us in welcoming them to the UniLend ecosystem!
🌐 Read more: https://rb.gy/gwntkl
Community Outreach & Education
Interview & AMA with Union Finance
March 1: 🙋♂️ Hopefully you didn’t miss our AMA with our partner project, Union Finance!
📆 Michael Beck and John Liu from Union Finance joined the UniLend community for an AMA on 2nd March at 7:30 PM IST.
Michael and John connected with our community to discuss the partnership with UniLend protocol. They introduced Union to the UniLend community and mapped out the future use cases between Union and UniLend.
🎁 During the AMA 5 lucky winners were each awarded with $10 USDT. It really pays to join us live, so try to catch us next time!
UniLend’s CEO Chandresh Aharwar Shares the Significance of the UniLend Protocol
March 1: In under 4 minutes our CEO, Chandresh Aharwar, shares the significance of the UniLend protocol! 🦾
🛠 Crypto enthusiasts talk about DeFi 2.0 all the time, but few are actually building it. It’s exciting to see the development of DeFi 2.0 unfold and an honor to know that we are at the forefront of the evolution of DeFi.
💥 In the words of Chandresh, “Even if there are some competitors that want to come, they can come, but driving the same traction is not going to be that easy.”
🎥 Learn about the power of UniLend: https://youtu.be/UKfWxNNhIP8
UniLend’s CEO & Co-founder Chandresh Aharwar Joined Binance for an EPIC AMA
March 2: We hope you were able to make it to this epic AMA. UniLend’s CEO and co-founder Chandresh Aharwar joined the Binance English Telegram group to answer everyone’s questions about UniLend’s lending and borrowing platform.
🏆During the AMA, $2,500 in $UFT was distributed to participants, and another $500 bonus went to Twitter participants. That’s a lot of money! Hopefully, it’s enough to incentivize you to try and catch the next one.
UniLend’s Community Lead — Vishal Kothari & Marketing & Operations Lead — Ayush Garg Joined Playcent for an AMA
March 15: Our Community Lead, Vishal Kothari and Marketing & Operations Lead, Ayush Garg when they joined the Playcent Telegram group for an eventful AMA.
It was a pleasure to connect with the Playcent community and share more insights into UniLend for the wider community. They gave away $150 in UFT during the session! It really pays to join us live! 🎉
Dvision Network’s Head of Business Development, Boburjon Muydinov, Joined the UniLend Community for an Eventful AMA
March 22: We had an eventful joint AMA with our partner project, Dvision Network! Boburjon Muydinov (Brian) — Head of Business Development from Dvision Network joined the UniLend community for an AMA on March 22nd.
🤩 Boburjon (Brian) connected with our community to provide an introduction to Dvision for those in the UniLend community who weren’t already familiar, discuss the partnership with UniLend protocol, and explore the potential future use cases between Dvision and UniLend.
🎁 During the AMA, we gave away $250 in $DVI to ten lucky participants.
UniLend Joined Crypto Education & Training for an AMA
March 26: ⚡️UniLend Finance just launched a new Flash AMA Series.
🚀 In this new series, we shared insights about our Mainnet, which launched on March 30th. In the first installment of this AMA Series, we joined the Crypto Education & Trading community based in Nigeria 🇳🇬.
🙋♂️We rewarded $150 in $UFT to AMA participants. It pays to join us live! So be sure to catch the next one!
Community Initiatives & Updates
Jose Xavier Vasconez — The Pride of UniLend (February)
March 4: It was our pleasure and honor to award our Pride of UniLend, Jose Xavier Vasconez, with the title of POU for February!🥇
🦾 We see everything you do, your amazing knowledge base and the support you give the UniLend community. We appreciate your consistency, and we were happy to reward you with $50 in UFT as a token of our gratitude.
Shield of Excellence Award — Ben Humbert
March 4: Thank you Ben Humbert, for all that you do! We bestow the title of Shield Of Excellence to rockstar community members only! ⭐️
🦾 Our team has seen Ben champion our cause on social media and throughout the cryptosphere. That’s why we loved showing you our gratitude by rewarding you with $100 in $UFT.
🛡 UniLend Finance is a movement, unlocking the true potential of decentralized finance and opening new opportunities for the crypto community. Thank you for helping to accelerate us on our journey!
🤝 The Shield of Excellence is an exclusive title which will be presented to rockstar community members who go above and beyond to spread the word of UniLend and bolster our community.
🚗 Ask Ben about his car, we think the recent addition to it is pretty cool.
Fun Giveaway to Celebrate Flash Loans
March 9: 🎁 To celebrate the announcement permision-less and gas-efficient flash loans product, UniLend launched a $250 Flash Loans Giveaway ⚡️
We gave $25 in UFT each to 10 lucky participants who followed us on Twitter, retweeted, tagged three friends, and joined both our community and announcement Telegram groups. We love giving back to the community. If you missed out this time, hopefully you’ll catch the next one.
UniLend’s Rapidly-Growing Global Community Surpassed 20k Followers on Twitter!
March 13: UniLend’s Rapidly Growing Global Community Surpassed 20k Followers on Twitter!🌍🌏🌎
🆙 We’re excited to see our social platforms growing so quickly. With everyone talking about UFT’s recent token listing on Binance and our newly announced permissionless & gas efficient flash loans, UniLend is gaining steam fast.
🚀 If you haven’t joined in on the conversation yet, what are you waiting for? Join the team and community that is unlocking the true potential of decentralized finance today.
✅ Remember this is only the beginning. We will continue to launch innovative updates and collaborations as we grow. Don’t sleep on UniLend, check us out today.
Growing UniLend’s Global Reach: Announcing our Nigerian Community
March 23: 🇳🇬 This month, UniLend launched an Official Nigerian Community! Barkan ku dai baki daya🙏
💎 In order to keep up with our massive community growth, we have launched our third regional community after Vietnam 🇻🇳 and Indonesia 🇮🇩.
🌏 Please join in the celebration. This is our first regional community outside of Asia, and we have many more to add to UniLend’s global outreach.
🦾 Nigeria is a well-known crypto hub, and with our Nigerian front, we are embracing their love for crypto.
🌐 Join our Official Nigerian community here.
UniLend Called on our Meme-Lords
March 24: To celebrate UniLend’s mainnet launch, we invited the community to show off their meme skills! 🚀
🙌 We asked $UFT enthusiasts to show us their creativity and enthusiasm for the launch of our many innovative DeFi developments by encouraging them to make memes on one of the following three topics: flash loans, our launch on Binance Smart Chain, and UFT staking.
👨🎨 We accepted creations in multiple forms to help to spread the word and get others excited about UniLend’s coming functionality.
📆 Our meme contest ran from March 24-March 30, and 5 lucky winners split a $200 $UFT prize pool!
🌟 We’re thankful for all of our active community members who took us up on the challenge to help us grow our community and show the cryptosphere the true potential of DeFi.
Wishing our Community a Very Happy Holi
March 28: UniLend wished everyone a very Happy Holi 🎉
🎊 Holi is a festival of forgiveness and new beginnings, where we share time with our families and reflect on our bonds with the people we hold most dear, and welcome the arrival of spring. It seems fitting that we shared this Holi day with our community.
We want to encourage everyone to join us in leading the DeFi charge. This can easily be done by joining our social platforms and being an advocate for shaking up the DeFi scene by letting everyone know that UniLend is here to create a DeFi 2.0 solution.
Thank you to those that are already in our ranks and sitting on the edges of their seats, ready for the next big UniLend updates!
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