UniLend V2 Is Now Live

3 min readOct 27, 2022

Progressive, secure, and capital-efficient money market for all.

Today, we’re thrilled to announce the public launch of UniLend v2 Tesnet, a permissionless money market intended to power the financial market and applications of the future.

In March 2021, UniLend v1 introduced the idea of flash loans coupled with permissionless lending allowing anyone to leverage the technology without any intermediation from the team. We saw many tokens getting listed on UniLend v1 in a permissionless manner and the liquidity being used through flash loans for advanced DeFi applications.

UniLend v2 is built upon the fundamental foundation of decentralization and Web3 applications with some groundbreaking new features that span from enhanced security to increased capital efficiency.

Dive into UniLend v2 now: https://testnet.unilend.finance

V2 Features

The release of v2 makes the UniLend Protocol one of the most progressive, safe, and efficient DeFi platforms in the Web3 ecosystem. With some new features and innovations, UniLend v2 provides a higher level of security, greater capital efficiency, and flexible lending options for risk mitigation.

The new features of v2 include:

Isolated Dual Asset Lending Pools

UniLend team has created an innovative Isolated Dual Asset Pool model, which means that every crypto asset pair will exist as an independent pool. This kind of isolated model ensures a higher level of security where the volatility of one asset doesn’t affect the entire protocol.

Read more about Isolated Pools in our previous article.

Non-Fungible Liquidity

The second feature of UniLend v2 is Non-Fungible Liquidity Positions. UniLend v2 implements NFTs as certificates for equities. Lenders will receive an NFT to represent their right to withdraw funds from the pool. NFTs on UniLend v2 will store multiple data points including the token address, and lending & borrowing balances of the asset.

Read more about Non-Fungible Liquidity in our previous article.

Concentrated Liquidations

The UniLend team has created a new concept of Concentrated Liquidations, where a liquidator can potentially liquidate multiple eligible loans within the same translation rather than doing it one by one.

Security

UniLend v2 was audited by Peckshield and Slowmist. We also successfully completed a smart contract bug bounty on Immunefi.

This is a momentous milestone for UniLend Protocol and the community. We invite everyone from the DeFi ecosystem to test out our v2 testnet. In the coming days, we will be adding new features and functionalities, and also improving the product based on the feedback from the community before going live on the mainnet.

We will release a feedback form for the community to reach out to us with any bugs or improvement suggestions. If you have any questions or want to show your support, use the social links below.