Gate.io AMA with Unilend Finance-Making Every Asset Productive

2024-02-07, 05:36

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![](https://gimg2.gateimg.com/image/article/17072837711.jpeg)
**<font size=4>Time: Feb 5th, 2023 at 11:00 AM UTC
[Gate.io](https://www.gate.io "Gate.io") hosted an AMA (Ask-Me-Anything) session with Ayush Garg,Marketing and Operations Lead of Unilend Finance in the [Twitter Space](https://twitter.com/i/spaces/1RDGllOAaMRGL "Twitter Space").
Official Website: https://unilend.finance/ 
Twitter: https://twitter.com/UniLend_Finance 
Follow Unilend Finance on [Twitter](https://twitter.com/UniLend_Finance "Twitter") and [Telegram](https://t.me/UniLendFinance "Telegram")
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**Guest**
![](https://gimg2.gateimg.com/image/article/17072841052.jpeg)
**Ayush Garg — Marketing and Operations Lead of Unilend Finance**
## Q&A from Gate.io
### Q1: Welcome UniLend team. It’s a pleasure to have you here. Please introduce yourselves and the UniLend project for those who don’t already know.
**Ayush**: GM Everyone! I would like to thank the Gate.io community for inviting us to talk about our project. We imagine that this conversation will have some interesting information that everyone will want to hear. I am from a Computer Science background with experience working at companies like Uber and Box8. I have been part of the Crypto space since early 2017. I have also worked with the startup Oasis — Initiated by IIM Ahmedabad and Rajasthan Government. I have been part of UniLend’s team since its launch as a lead in Marketing and Operations.

In regards UniLend, it is a Multichain permissionless Lending and Borrowing protocol for all ERC20 tokens. We are developing a Futuristic Base Layer for all DeFi applications. We have launched two versions of the UniLend protocol. UniLend Version 2 is the world’s first permissionless lending & borrowing protocol for ALL ERC20 tokens. It is currently live on <a href="/zh/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> Sepolia and <a href="/zh/price/polygon-matic" target="_blank" class="blog_inner_link">Polygon</a> zkEVM testnet.  Just imagine <a href="/zh/price/uniswap-uni" target="_blank" class="blog_inner_link">Uniswap</a> for lending & borrowing, that is UniLend.

Our v1 permissionless Flash loans and lending functionality is live on 4 major blockchains: Ethereum, Polygon, BSC, and Moonriver, and achieved more than 50 Million worth of Flash loans, listed more than 30 tokens including native tokens of major blockchains: $WMATIC $<a href="/zh/price/bnb-bnb" target="_blank" class="blog_inner_link">BNB</a> $WMOVR $WETH. 
https://twitter.com/UniLend_Finance/status/1512123593748271105

Our mission is to “Make Every Digital Asset Productive”.  The concept for UniLend came from the simple idea of empowering every token with DeFi functionality. Essentially, UniLend Finance offers every DeFi capability imaginable for any ERC20 asset, including the $500B+ of assets that are currently excluded from DeFi.

### Q2: There is a lot of buzz around UniLend V2 Mainnet Launch on 12th February. How does its protocol distinguish itself from major DeFi lending platforms such as Aave and Compound?
**Ayush**: Yes, we're thrilled about the UniLend V2 Mainnet Launch and eager for the community to explore it. Let's start by examining the current landscape of the DeFi space.Let’s first look at the current scenario of the DeFi space.

Current issues that plague the DeFi industry stem from its fragmentation. Some protocols offer lending and borrowing functionality for a limited set of tokens. UniLend is bridging that gap by combining the decentralization aspect of enabling any ERC20 asset to be utilized as collateral for the lending & borrowing aspect.

We launched UniLend V2 on two testnets: Ethereum Sepolia and Polygon zkEVM. It is the world’s first permissionless lending & borrowing protocol for ALL ERC20 tokens.  There are no restrictions for lenders and borrowers. Anyone can easily lend and borrow any ERC20 tokens as the protocol is permissionless. Users can easily create a dual asset pool for lending & borrowing for any pair of assets in a permissionless manner with price feed oracles and gas optimization.

Read details here: https://twitter.com/UniLend_Finance/status/1585696069572513792?s=20&t=LXlQ4KQjqA5N-aAGiyt0ZQ 
<a href="/zh/price/aave-aave" target="_blank" class="blog_inner_link">Aave</a>, <a href="/zh/price/compound-comp" target="_blank" class="blog_inner_link">Compound</a>, Beta Finance, and <a href="/zh/price/balancer-bal" target="_blank" class="blog_inner_link">Balancer</a> are major competitors but none of them are permissionless for all ERC20 assets. They are gatekeepers or provide multi-pool solutions. Here are V2 killer features. The protocol is armed with Industries' Biggest Innovations:
🔸Permissionless Lending & Borrowing
🔸Isolated Dual Asset Pool 
🔸Non-Fungible Tokenisation
🔸Concentrated Liquidation 
It also includes advanced features such as On Chain Price Feeds, Flexible Lending, and Flash Loans making this version unique and a next-generation product.  We will support price feeds from various sources including Chainlink, <a href="/zh/price/band-protocol-band" target="_blank" class="blog_inner_link">Band Protocol</a>, SupraOracles & Uniswap V3 TWAP oracle to make the v2 more flexible to adapt to changing markets and innovations. UniLend's v2 version is not just a protocol update. Our vision is to build a base layer of lending and borrowing for the money markets which is yet not done in crypto.

### Q3: Kudos on wrapping up the UniLend V2 testnet! What progress was made, showing readiness for the mainnet launch? Also, is the UniLend V2 testnet still available for users?
![](https://gimg2.gateimg.com/image/article/17072841383.jpeg)
**Ayush**: Sure, UniLend V2 has been successful on Testnet. After two years of rigorous testing, community feedback, and constant development, we've successfully concluded the UniLend V2 testnet, making significant strides in the web3 space. Let’s reflect on the accomplishments:
1. UniLend V2 commenced on Ethereum Sepolia and Polygon zkEVM testnets featuring innovations such as Permissionless Lending and Borrowing, Isolated Dual Asset Pools, NFT tokenization, and Concentrated Liquidation. 
2. Surpassed 100,000 transactions on V2, highlighting scalability and strong demand for advanced DeFi solutions. The platform allows efficient execution of numerous transactions with top-tier security.
3. Over 12,000 enthusiastic users rigorously tested our V2.
4. Revamped UniLend V2 UI for seamless experience: One-Click Pool Switching, Effortless Sorting, Responsive design, gearing up for mainnet launch.
5. Integrated Unstoppable Domains on V2 Testnet, enabling users to connect wallets and use Web3 domain names instead of traditional wallet addresses.
6. Launched UniLend V2 Bug Bounty Program on ImmuneFi worth $25,000 rewards to enhance security.
7. Launched 50+ liquidity pools on UniLend V2 testnet, allowing users to explore lending and borrowing features without real funds.
8. Conducted successful V2 Testnet campaigns, like GoalwithDeFi, $5000 campaign, Howzzat, and themed events, fostering community engagement in testing lending & borrowing features and gaining substantial traction.
9. Grateful for our community's support in shaping UniLend, we rewarded over $10,000 to active UniLend V2 testers.https://x.com/UniLend_Finance/status/1735734010809332199?s=20

Users can still experience UniLend V2 testnet, where anyone can participate in lending and borrowing tokens. Testnet: https://testnet.unilend.finance/

### Q4: Let's delve into UniLend's native token, $UFT. Could you elaborate on its utilities and tokenomics? We're excited to learn more about the future of $UFT!
**Ayush**: There are so many points we can bring up. We’ll try to keep this short though. UFT is a governance token. It is the first token that allows users to lend their tokens whilst providing liquidity for permissionless Flash Loans and lending protocols, ODDZ, YOP, PBR, CFI and many more are live on Ethereum.

MATIC, UFT, MOVR, and many more tokens with lending Flash Loans are live on our V1 Polygon, BSC, and Moonriver. In addition, lenders have received many airdrops and there will more than likely be plenty more to come in the future.

We launched our Governance, a significant development aimed at enhancing the utility of the UFT token and empowering our community members to actively participate in shaping UniLend’s future. This is an essential step leading to true decentralization of UniLend Finance.

UFT token is a highly liquid asset and is available for Spot, Margin, and Futures Trading on more than 19 major DEXs and CEXs across the world like Gate.io, Binance, <a href="/zh/price/huobi-ht" target="_blank" class="blog_inner_link">Huobi</a> Global, Deepcoin, Bitrue, Uniswap, QuickSwap, Wazirx, DFyn, MXEC, LunarCrush Trade and many more. We’re also listed on Coinbase Custody, globally broadens UniLend Finance's horizons. UFT is also now available on Binance web3 wallet and got added on Isolated Margin and Cross Margin on Binance. We also launched UFT Price Feeds by Chainlink. Chainlink added UFT-USD price feeds on Ethereum.  UFT Price Feed is also LIVE on Multiple Chains Powered by RedStone. Redstone is now supporting UFT price feeds on all EVM-compatible chains.  Increasing UFT DeFi utilities allows many other DeFi applications to integrate UFT quickly and securely into their ecosystem.

You check out our tokenomics here: https://buff.ly/3dbYwxM

### Q5: Community and partnerships are essential pillars for any decentralized project. Can you provide more insight into how UniLend focuses on and prioritizes these aspects?
![](https://gimg2.gateimg.com/image/article/17072841784.jpeg)
**Ayush**: We are so grateful to have such an amazing community and ecosystem partners.  Our multichain ecosystem is our strength. We have forged more than 134 strategic partnerships. UniLend has grown to an outreach of 147k+ across more than 12 content distribution channels. Further, we have 8 regional communities  for the ease of communication and no language barriers affect the growth of the UniLend so you also can join our official regional communities: 
1. Indonesia: https://t.me/UniLend_Indonesi a
2. Vietnam: https://t.me/UniLend_Vietnam

3. Nigeria: https://t.me/UniLend_Nigeria 
4. Phillippines: https://t.me/UniLend_Philippines 
5. Turkish: https://t.me/UniLend_Turkish 
6. Korean: https://t.me/UniLend_Korea 
7. India: https://t.me/UniLend_India 
8. Spanish: https://t.me/UniLend_Spanish

### Q6: Could you provide of use cases for UniLend V2, highlighting its versatility and potential applications?
**Ayush**: Great question! UniLend V2 boasts numerous use cases, and to delve into them further, we've introduced an educational series called "Unraveling UniLend V2." This series sheds light on the use cases of UniLend V2’s innovative features. One notable use case revolves around new tokens. Our groundbreaking protocol has the ability to transform every new digital asset into a productivity powerhouse. By enabling lending and borrowing for new tokens, we aim to ensure stability and foster innovation. Tokens can be pooled for lending and borrowing, curbing sell pressure and boosting capital for early investors. UniLend provides a platform where these assets find stability and utility. We're revolutionizing DeFi, where volatility meets opportunity, allowing new tokens to find stability and reach their full potential. This is just one example of UniLend V2's innovative features, with more revelations to come, so stay tuned for updates!

### Q7: How can members of the community actively engage in shaping the exciting future of UniLend's protocol now that UniLend Governance is live?
**Ayush**: Through our Governance framework, we empower the community by granting voting power and facilitating active participation in decision-making processes. This governance structure allows users to play a pivotal role in shaping UniLend's future, enhancing community engagement, and elevating the utility of the UFT token. Users can easily submit proposals, engage in discussions, cast votes, and see their ideas materialize. Any community member can create UniLend Improvement Proposals (UIPs), our primary governance mechanism enabling proposals for changes within our protocol. Engaging in discussions, casting votes, and participating in UIPs empower users to actively influence our protocol, introducing new features, upgrades, and more.

Additionally, we've introduced the governance-wrapped token — UFTG (UniLend Finance Governance Token). UFTG, as the cornerstone of our Governance model, serves as the key to actively engaging community members in shaping UniLend’s future. Owning UFTG is your ticket to becoming an integral part of our governance processes, symbolizing our commitment to community-driven decisions and a decentralized future. User can join the discussions on UniLend’s Governance Forum on Commonwealth: https://commonwealth.im/unilend-finance/discussions 
For guidance, refer to the User Guide: https://medium.com/@unilend/unilend-governance-user-guide-de05d5c0a71f

<div class="blog-details-info">
<div>Author:** Rio Fu.**, Gate.io Community
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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