The decentralized financing market is improving rapidly and this can be seen in the intense innovations and solutions that have found their way into the ecosystem. The quest for adoptability has pushed the churning out of incredible solutions and one of them is UniLend Finance.
This DeFi innovation has intrigued people globally, being that it is a permissionless DeFi protocol. It has the aim of ‘unlocking the true potential of decentralized finance’. It recently released a roadmap to show what it intends to attain within the next nine months. The goals are quite innovative.
How It Started
It started by raising more than three million dollars in their funding rounds while garnering intense support from leaders in the investing world such as 3Commas, Woodstock Funds, and Signal Ventures. This platform has continued to be the talk of the town because of the intriguing value proposition that it is bringing to the world of decentralized financing.
It intends to offer functionalities like borrowing, lending, and spot trading facilities. Users will have access to all the features above in the same protocol, which will be one of the foremost comprehensive DeFi platforms.
One aspect that people can't get enough of and have been tagged a great value proposition is the fact that it offers a permissionless listing mechanism. What does this mean? It's quite simple.
The decentralized financing protocols that you see around today only support few digital assets. This means that a lot of assets are disenfranchised. The scenario will change with the permissionless listing feature of UniLend, as anyone can list any ERC20 asset, thereby offering every Ethereum-based asset the general DeFi functionality.
UFT, the native token, has increased in value. It has moved from its incredibly low value of $0.143, and it is now currently at $0.825. It took an increase of more than 500%, which is incredible. With what is on ground, it is expected to increase in value as time goes on.
The Road to Unlocking the True Potential of DeFi
The recent roadmap that UniLend released shows that the team is dedicated to ensuring that their platform ends up being the next big thing.
It's expected that innovative functionalities, community governance implementation, as well as multi-stage platform launch will be the order of the day in the coming months.
One milestone in their journey that is intriguing everyone is their Alpha launch. It is expected to happen December 2020, which is this month. When this occurs, a number of users will have access to the initial release of the UniLend protocol. These select few will be able to test the functionalities on the protocol like lending and borrowing.
Once the platform is launched fully in the first quarter of next year, 2021, it is expects that the full utility of UFT will be realized. Those that offer liquidity will have UFT tokens as compensation.
The UniLend team intends to decentralize the platform totally by offering the governance to the users. It is expected to do this in the second quarter of 2021.
To ensure that more innovative projects become the mainstay of the ecosystem, the UniLend team intends to launch an Ecosystem Fund in the second quarter of 2021.
