UniLend is now Live on Binance Smart Chain: Starting a new Chapter of Permissionless DeFi
TL;DR
- UniLend Finance’s Permissionless Protocol is now live on Binance Smart Chain along with our popular Lending and Flash Loans product.
- Now anyone will be able to start a lending pool for any token on BSC.
- With our intuitive app, users will be able to start lending their favorite tokens, and immediately the liquidity will be available for Flash Loans.
- UniLend has already announced that 70% of the fees generated from Flash Loans revenue will be rewarded to the lenders; the same will continue on BSC.
- UniLend’s Permissionless Protocol is already live on Ethereum and Polygon with over $ 6 million total value locked/ 25+ tokens
UniLend is excited to announce the launch of its permissionless DeFi protocol on the Binance Smart Chain. With this launch, we are empowering the BSC community to lend any token from the ecosystem.
Try the app now - https://app.unilend.finance/ (Toggle to BSC for using the app on Binance Smart Chain)
Earlier this year, we announced that UniLend would be expanding its vision to become a multichain protocol. In that series, our CEO and Co-Founder Chandresh Aharwar, explained how BSC is snowballing and making the blockchain more affordable to the end-users.
“DeFi will span multiple blockchains. While we believe Ethereum will remain at the forefront of the DeFi revolution, we’re starting to see the beginnings of vibrant DeFi ecosystems on various chains, especially Binance Smart Chain. UniLend aims to provide all prominent DeFi communities with the freedom to unlock the full DeFi potential of their assets, no matter which chain they are based on.”
Chandresh Aharwar, UniLend Co-founder & CEO
https://twitter.com/chandresh1091/status/1372571280038268929?s=19
Since then, we have made massive progress in our protocol with successful launches on Ethereum and Polygon.
Advantage of Binance Smart Chain
Binance Smart Chain, one of the most popular Block Chains with almost 90 million unique addresses and 500 dapps building, has witnessed a mammoth growth in the light of fast transaction speed and cheap gas fees.
The reasons for this vast adoption rally on BSC from Dev’s and users include:
✅ Huge Traction & TVL
✅ High Transaction Volume
✅ Low Transaction Costs
✅ Large User Base
✅ Ethereum-BSC Bridge, etc.
Here are some charts to showcase the same.
Number of Wallets Crossing 90 million mark |Source: https://bscscan.com/chart/address
Gas fee at near All Time Low at 5 gwei | Source: https://bscscan.com/chart/gasprice
Highest Transaction Peaked per Day recently to 13 million | Source: https://bscscan.com/chart/tx
These factors contribute to the total number of Dapps being well above thousand and could be crossing 2000 shortly on BSC. UniLend’s Permissionless protocol will empower these dapps and their tokens to be part of DeFi from a very early stage.
UniLend Support
To boost new promising projects and teams, UniLend has also announced a $1 million Grants Program.
Through our Grants program, we support and help build the DeFi application on UniLend Finance’s Protocol. Many teams are already building with us, and now the teams on BSC can also join us.
Apart from that, we welcome other tokens that want to start their Lending immediately with us. Our team is going out of its way to extend extensive help for such projects and help them join the DeFi revolution on BSC. These projects will get guidance, integrations, and marketing to our 100k+ members vibrant community.
If you want to be a part of this revolution, please fill out this form and reach out to the team https://forms.gle/8GFtkYGb9F9yjKLN9
UniLend Impact
As a community 1st project, our goal is to improve DeFi capabilities to the BSC community. True to our goal, UniLend made its protocol permissionless in a way that anyone from the community can start off their tokens. The lending here is also revenue-generating because of the Flash Loans Technology. So whenever someone borrows the tokens using Flash Loans, the lenders earn 70% of the fees generated. Isn’t it cool!
Please follow our channels, where we release a comprehensive guide about how anyone can lend any token & if one wants to start the lending pool for tokens, how with a few simple steps, they can do it.
The UniLend team is excited to launch this product and hope that we can play pivotal role in empowering the ecosystem with our innovation and hard work. Join the discussion and a become part of DeFi revolution by joining our communities.
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