The DeFi or decentralized finance market is beaming with opportunities. One of the prime reasons for its popularity is that the decentralized market is not controlled by any central authority like banks and allows free movement of their digital assets. However, most of these DeFi protocols control the movement of these assets to take part in the multi-asset pools. In this process, many relevant ERC20 tokens are barred from taking part in the asset pools and are left behind despite having an incredible value in the market. This leaves the lenders with huge market risks as they do not have enough collaterals to fund their lending.
UniLend Finance is a permission-less DeFi protocol that offers spot-trading, lending, borrowing, and money markets through integrated smart contracts. Their service is unlike any other protocols and allows anyone to list an ERC20 asset for trading, borrowing, or lending services in the DeFi ecosystems.
- It is completely permission-less and decentralized. No DAO (decentralized autonomous organization) can control its activities.
- Spot-trading, lending, and borrowing of assets through smart contracts.
- Lenders can choose the collateralization ratio (based on the supply/demand of assets and other market factors) to maximize returns.
- UFT is the utility token of the platform. It is also a native ERC20 token.
- Stakeholders can take part in the governance regarding the protocol via proposals. Decisions are made after reaching a majority consensus.
- Stakeholders can take part in the staking process and yield farming and earn rewards.
- UFT token users can earn discounts on transaction fees.
- The UniLend platform has a very user-friendly interface designed for seamless transactions.
UniLend (UFT) Grand Giveaway on WazirX
On Wednesday, 7th April, UniLend announced its listing on the WazirX platform. It will be a great opportunity for participants to trade, buy, and sell UFT tokens on the INR and USDT market. WazirX will also be hosting a grand giveaway program with exciting prizes to win.
Here is the listing schedule:
- Participants can buy, sell, or trade UFT tokens in the INR and USDT market.
- They can deposit UFT tokens from any wallet to the WazirX wallet.
- Users can also withdraw UFT tokens from their WazirX wallet.
Grand Giveaway Schedule
AMA with Vishal Kothari and Ayush Garg
On 7th April, WazirX is organizing an AMA session with Community Lead Vishal Kothari and the Marketing and Operations Lead of UniLend, Ayush Garg. The session will be an interesting event where you can ask all your questions regarding UniLend and UFT.
In part 1 of the program, 10 questions will be asked to Vishal and Ayush crowdsourced from the Twitter followers. The top 10 questions will get a chance to win $100.
In part 2, the top five live questions will be asked from the Telegram group. Lucky participants will get a chance to win $50.
The Highest Trader Kaun Marathon (UFT/INR)
- Contest 1 timing: Thursday, 8th April, 9 AM — Saturday, 10th April, 9 AM IST.
- Contest 2 timing: Thursday, 15th April, 9 AM —Saturday, 17th April, 9 AM IST.
The 48-hour long trading marathon is a great opportunity to win incredible prizes. Two trading contests will be held on the WazirX platform. Each contest will be 48-hour long non-stop. Participants can participate anytime in any one or both contests within the stipulated time. Top 150 traders can get a chance to win total prize money worth INR 5,72,750 or $ 7,500 worth UFT tokens.
WazirX is giving away a total ₹11,45,500 worth UFT in Highest Trader Kaun Marathon contests. Prize distribution rules are given in the table below:
Ready for a fun quiz contest? On 8th April, WazirX will be hosting a quiz contest on its Telegram group. Questions will be based on UFT tokens. It will be a great way to test your knowledge and earn some exciting prizes. There will be 10 questions and for each correct answer, you can win a prize. The first prize is worth $100.
Got all the latest news about UniLend? Then follow us on Instagram. On 9th April, there will be a Trivia Contest. Five questions will be shared on the Instagram story. For every correct answer, there will be a prize worth 4.44 UFT.