What is UniLend Finance (UFT)?
UniLend Finance is a decentralized finance (DeFi) protocol that combines spot trading with lending and borrowing capabilities in one platform. The platform aims to increase DeFi trading adoption and introduce more users to the benefits of crypto and DeFi trading. It also aims to allow the seamless borrowing and lending of ERC-20 tokens to its users. Besides, the platform uses the flash loans protocol which offers uncollateralized loans. With this feature, users can utilize arbitrary and self-liquidation opportunities.
The UFT token is the native utility and governance token of the ecosystem. On the live UniLend price chart above, you can find the current UFT price.
Use Cases of UFT Tokens
The UFT coin offers interesting uses for members of the UniLend Finance ecosystem. Primarily, it is the only approved medium of exchange between participants in the UniLend Ecosystem.
Moreover, the UFT token is the governance token. Holders of UFT can decide the future of the platform by initiating proposals and voting on those proposals. Some of these proposals include the addition of more base pairs and the collateral ratio for assets.
Furthermore, users can stake their UFT tokens in liquidity pools and become liquidity providers. Besides, stakers are rewarded for their contributions to the network in UFT crypto tokens. If you would like to know the value of these rewards, the best place to start is the aforementioned UniLend price chart above, where you can find the latest UFT price.
Lastly, UniLend token holders are eligible for discounts on interest rates on loans taken on the platform. Lenders receive more interest on their staked assets as well.
Who Founded UniLend?
Chandresh Aharwar is the founder and CEO of UniLend. Before UniLend, he was formerly a marketing and strategy personnel on the MATIC network. Other core team members include Suryansh Kumar, Tarun Malik, and Ayush Garg.
UFT Tokenomics
The maximum supply of UFT tokens is 100 million. 15% has been allocated to the team, while 10% of the tokens have been reserved for future use by the ecosystem. Marketing, security alignment, and protocol distribution got 8%, 5%, and 15% respectively. Moreover, 10% was reserved for the seed round, while the private sale got 20%. Lastly, 15% has been set aside for ecosystem rewards, while 2% was distributed to the public at launch.
