What is Unilend (UFT)? UFT Cryptocurrency Complete Series

Following Techtipsnreview’s series of articles on Coins and Tokens, let’s learn about a new project in the field of lend – borrow: UNILEND

There are 3 main points in this article:

• Overview of Unilever.
• Information related to the main token of the project – UFT.
• Combine the above factors to consider the future potential of UFT.

What is Unilend?

Unilend is a DeFi protocol where users can do spot trading and lending/borrowing through smart contracts.

Unilend helps users to perform lending and borrowing tasks like Compound, Aave projects and even token trading on the exchange in just one platform.

Highlights of Unilever

Unlike normal lending/borrowing projects (which support very few assets), users can deposit all ERC-20 tokens to Unilend. But if you want to borrow or borrow, you still need two parties to combine.

In addition, the integration of spot trading with lending/borrowing helps users save time and transfer fees when they don’t need to switch to single-tasking platforms if needed (only trading or lending/borrowing).

Unilend can be seen as a combination of Compound and Uniswap. Besides, if you want to list any ERC-20 tokens as lending assets, you don’t need the control and approval of the project or anyone. In addition, the project is also working on cross-chain support such as Binance Chain, Monero, etc.

On April 16, Unilend partnered with ODDZ to launch Flashloan feature. The project will launch Stake ODDZ to provide functional liquidity for Oddz Finance’s newly powered Flashloan on Unilend’s platform.

Updated on 11/5: Unilend is officially available on Polygon, you can use MATIC to participate in borrowing, borrowing, flashloan, … on Unilend platform

Update on May 25: Unilend cooperates with Poolz to become a Lending Pre-IDO partner.

Unilever Basics (UFT)

• Ticker: UFT.
• Contract: 0x0202Be363B8a4820f3F4DE7FaF5224fF05943AB1.
• Blockchain: Ethereum.
• Token Standard: ERC-20, BEP-20.
• Token Type: Governance token.
• Total Supply: 100,000,000 UFT.
• Circulating supply: 2,000,000 UFT.

Token Allocation

• Reserve, marketing, ecosystem: 33%.
• Seed & private sale (investors): 30%.
• Team: 15%.
• Protocol distribution (for liquidity mining/yield farming): 15%.
• Security & Alignment (for bug bounties/audits): 5%.
• Public distribution: 2%.

Token Sale

Token Release Schedule

• Public sale: Not locked.
• Seed round: Unlock gradually until 04/2022.
• Private sale: Unlock gradually until 07/2021.
• Team: Unlock gradually until 04/2023.
• The remaining tokens will be released monthly, until 04/2023.

What is UFT used for?

• Governance: UFT holders can vote for features that are about to be applied on Unilend.
• Liquidity mining rewards: UFT is used to pay rewards to UFT holders who provide liquidity for Unilend.
• Lending, borrowing, trading: UFT is used to reward users for using these services.

How to earn UFT?

You can buy UFT through Public sale or farm through liquidity mining, lending, borrowing, trading.

Instructions for storing UFT on Techtipsnreview Wallet

UFT token is an ERC20 token, you can store UFT tokens on Techtipsnreview Wallet with the following simple steps.

Read more: Instructions for installing and using Techtipsnreview Wallet from A to Z

Step 1: At the main interface, select Receive (Receive).

Step 2: Enter UFT in the search box.

Step 3: Copy the UFT wallet address and send the UFT token to this address.

UFT transaction on Techtipsnreview Wallet

You can trade UFT tokens directly on Techtipsnreview Mobile Wallet with SushiSwap.

Step 1: At the main screen of Techtipsnreview Wallet, choose SWAP.

Step 2: Choose Uniswap in the upper left corner of the screen.

Step 3: Select tokens for trading and fill in the necessary parameters for the transaction.

• Select tokens from the list. With tokens that are new and not yet displayed on Techtipsnreview Wallet, you can paste the contract and trade as usual.
• Enter the number of tokens you want to swap.

Step 4: Adjustment gas and inflation (slippage) on demand.

Step 5: Browse transactions (approve) and complete the transaction.

Read more: Trade Uniswap right on Techtipsnreview Wallet, no going around, saving transaction fees, why not use it for real?

When trading on Techtipsnreview Wallet, you not only experience a beautiful, user-friendly interface, but Techtipsnreview Wallet also has a gas fee bar to help you customize Gwei to optimize transaction fees. Let’s fight right now!

Future of UFT

Overall, Unilend is a project that is a combination of the two most popular features in crypto in general or DeFi in particular. So it is likely to achieve certain successes similar to previous projects like Compound or MakerDAO.

Should invest in UFT or not?

Ideas and products

This combination helps users do not need to move assets when they want to lend or buy and sell through another exchange. This is also a pretty good way to retain users. Therefore, if the team has a suitable roadmap for both areas along with the token price, the project is likely to succeed.

Talking about expanding support for all ERC-20 assets: In theory, the number of unused assets in the lending/borrowing array is very large (estimated total value is about $16.7B). But in reality, not all assets have this need, especially new tokens, which do not have much value.

To understand, Unilend only adds the ability to support multiple tokens, but if no one wants to borrow, or trade, it’s not too different from other lending/borrowing projects.

Team

Most of the members have experience in crypto with projects like Matic, Metatransact. Almost all the necessary fields for a crypto project such as tech, marketing, community… have members in charge.

Advisor

Unilend’s Advisor is the Founder/CTO of Frontier – a DeFi Wallet project that currently supports many popular ecosystems such as Ethereum, Binance Chain, BandChain, Kava,…

In addition, he used to be the CTO of many other technology projects such as InstaDapp, Androidstarters, Woodstock…

Roadmaps

Token

Liquidity mining and yield farming will be Buy demand when it is announced. However, when officially applied, this is also Sell demand because it increases the circulating supply.

Currently, there is no binding notice for the token to be farmed. However, if you don’t learn from the token dump cases of projects that hit hard on yield farming to attract users, the token price will be dumped very strongly and it will be difficult to get back up.

Unilend development means more people participate in using the platform. Increasing demand for trading, lending, borrowing will release more and more tokens, increasing Sell demand while token use cases currently only have Governance as Buy demand.

Token release schedule

With the token release schedule being paid in installments, the possibility that the dump is not too large at each release will help the token price be more stable. But this also has a drawback that it will make it difficult for you to find a suitable buying point.

summary

Above is some information about UFT and Unilend to help you understand more about their project and token so that you can make a decision whether to invest or not.

What do you guys think about UFT? Please share your opinion in the comment section or in the group telegram.

Best regards and see you in the next posts!

Disclaimer: Crypto investment is a type of high-risk investment, you should only invest with the amount of capital you can lose.