UniLend Unlocks Decentralized Borrowing and Lending of Bluzelle’s BLZ Token Accompanied by Wider Collaboration
After the recent success of our public sale, things have been shaping up quite nicely and we’ve hit the ground running. We’re happy to announce that UniLend Finance has partnered with Bluzelle. Bluzelle is a high throughout, multi-function, interoperable, decentralized database. They’ve already formed strong working relationships with many reputable players in the space and we’re proud to say we’re the latest.
As DeFi expands, Bluzelle’s infrastructure services play an important role in revolutionizing traditional finance. We’re eager to see what the future holds for all of us. Their BLZ token, currently listed on multiple exchanges, including CEXs Binance and Huobi, will be one of the early tokens integrated into the UniLend platform.
Users will therefore not only be able to trade, lend and borrow BLZ in a completely decentralized manner, but they’ll also be able to provide liquidity in return for interest while receiving UFT for utilizing the protocol — unlocking the full DeFi functionality of BLZ for the first time. Currently, BLZ lending and borrowing isn’t possible to execute in a decentralized fashion. However, UniLend is changing that, helping them up their game a few points.
The Bluzelle team will provide some boost from the starting line and spur us forward in bootstrapping early stage liquidity for BLZ. This will ensure a smooth user experience right from the outset for those wishing to trade BLZ and utilize their tokens for lending and borrowing functionality.
UniLend will be an early participant in trialing Bluzelle’s new oracle solution. Bluzelle Oracles is powered by its decentralized database and can offer greater speed, security and historical price indexes. If you’re interested in seamlessly trading a wide range of ERC20 tokens, UniLend should be on your radar.
Of course, BLZ will only be one of the first among many tokens available before fully defragmenting the entire decentralized finance industry. So much of its potential is still to be unlocked for token holders which is precisely why we’re here.
“We believe the next evolution in DeFi is the inclusion of not only any participant, but the inclusion of any asset which users wish to utilize for DeFi. UniLend is making this a reality, and our progress on all fronts is going strong.”
— Chandresh Aharwar, UniLend Co-founder & CEO
Bluzelle aims to be the go-to data layer for Web 3.0 by providing a decentralized data network that is tamper-proof and has greater privacy, scalability and availability than traditional solutions. Powered by Cosmos, Bluzelle handles 10,000 TPS and is a delegated proof of stake. Bluzelle’s DeFi solutions are being developed to enhance Defi with historical price feeds, provide data analytics, 360-degree views, and more. As DeFi grows, Bluzelle’s infrastructure services play a big role.
UniLend is a permission-less DeFi protocol that combines spot trading services and lending/borrowing functionality within the same platform. Whereas current DeFi protocols support only ~30 assets, anyone can list any ERC20 asset on UniLend for decentralized trading and lending/borrowing.
UniLend’s mission is to open the DeFi space up to the $29B of ERC20 tokens which are currently excluded from DeFi, hence our motto “unlocking the true potential of decentralised finance”.