Unilend Launches Lending and Borrowing Protocol on Moonriver
UniLend, the first protocol to deliver FLash Loans on the Kusama Ecosystem, will launch on Moonriver.
About Moonriver
Moonriver is a companion network to Moonbeam and provides a permanently incentivized canary network.Moonriver is a fully Ethereum-compatible smart contract parachain on Kusama. Due to this Ethereum-like design and developer-friendly approach, Moonriver has attracted dozens of projects to build on it: https://moonbeam.network/community/projects/. It does this by providing a full EVM implementation, a Web3-compatible API, and bridges that connect Moonriver to existing Ethereum networks. This allows developers to deploy existing Solidity/Vyper smart contracts and DApp frontends to Moonriver with minimal changes.
About This Partnership
UniLend V1 will debut on Moonriver as Kusama’s first-ever flash loan service. Moonriver is a Kusama network parachain that launched in August of this year, whereas Moonbeam will begin its Polkadot launch phase later this month. Moonriver is a Moonbeam sister network that provides an Ethereum-compatible Kusama environment for testing under real-world economic conditions. Developers now have access to Moonriver, allowing them to begin developing, testing, and launching DApps on the canary network.
At the integration of this partnership, here's what both founders had to say:
“It gives me immense pleasure to expand UniLend’s Permissionless DeFi growth to the most widely Adopted parachain of Kusama Network. We will be deploying our UniLend v1, which is going to be the first Flash Loans provider on Kusama Network. This partnership also masks the entry of UniLend to the most anticipated Blockchain network, PolkaDot”
-Chandresh Aharwar, Co-Founder and CEO of UniLend Finance
“Lending and borrowing use cases are the backbone of developing a DeFi ecosystem, but until recently the lack of necessary infrastructure has prevented these use cases from deploying to Moonriver,” said Derek Yoo, Founder of Moonbeam. “UniLend helps fill this recently-opened space with its unique approach and cost-effective operations. We are pleased to welcome UniLend to the Moonriver ecosystem.”
Derek Yoo, Founder and CEO of Moonbeam
Conclusion
As a part of UniLend’s multichain DeFi agenda, Unilend has announced its grand entry into the Polkadot ecosystem. They have successfully launched their UniLend V1 on the 3 most adopted Blockchains, Ethereum, Binance Smart Chain and Polygon.