Hi Folks!

On February 23, Binance announced that it would list $UFT on its platform. As usual in its token listing process, Binance invited UniLend to participate in an AMA on its TG channel(https://t.me/binanceexchange) March 4. Chandresh Aharwar, CEO of UniLend was present at this AMA and answered several questions. Below is a recap of this event.

Segment 1: Introduction and basic questions

Binance:
Hi chat and welcome to a special AMA with UniLend Finance’s team!

Chandresh Aharwar:
Hi Everyone! Really glad to be here!

Binance:
It is my pleasure to introduce to you UniLend’s founder, @ChandreshAharwar! Thank you for joining us.

Chandresh Aharwar:
Thanks for inviting Binance Team 🙂

Binance:
Could you please introduce yourself to the chat as well as share a quick overview of UniLend?

Chandresh Aharwar:
sure. Many of you probably already know I have been actively contributing to the blockchain space since late 2016, including holding the lead Marketing & Strategy position at Polygon (Previously Matic) before co-founding UniLend Finance.

https://twitter.com/chandresh1091/status/1259145137881354240
UniLend is a comprehensive DeFi protocol with the mission to unlock the true potential of decentralized finance. Essentially, UniLend Finance will offer every DeFi capability imaginable for any ERC20 asset, including the $50B+ of assets which are currently excluded from DeFi. You can imagine, UniLend like a combination of Uniswap and Aave. In addition to an intuitive UI, UniLend will also have a robust governance model powered by UFT (UniLend Fiance Token), Liquidity Mining/Staking, Fusion Farming and a UniLend Ecosystem Fund for upcoming IDOs. Of course many more updates coming in the future.

Binance:
Awesome, thank you for that quick introduction. Chat, here below some quick and useful links for you to learn more about UniLend.
Website: https://unilend.finance
App: https://app.unilend.finance/
Litepaper: https://unilend.finance/docs/unilend_lightpaper.pdf
Telegram: https://t.me/UniLendFinance
Twitter: https://twitter.com/UniLend_Finance
Reddit: https://www.reddit.com/r/UniLend/
Linkedin: https://www.linkedin.com/company/unilend-finance/
Facebook: https://www.facebook.com/UniLendFinanceOfficial/
Medium: https://unilend.medium.com/

Chandresh Aharwar:
Don't forget to follow us guys

Binance:
Q1. For those in our community who are not yet familiar with UniLend, could you please go into further detail about UniLend Finance and your mission?

Chandresh Aharwar:
sure. Our mission is simple yet ambitious - we’re unlocking the full potential of decentralised finance at a level never before seen in the industry. We’re achieving this by building the industry’s most comprehensive DeFi protocol, which will support the full range of DeFi functionalities including decentralized spot trading, lending and borrowing, and much more, all in one platform. It’s important to note that, unlike other leading DeFi protocols, our platform will support more than just a handful of ERC-20 tokens. UniLend will offer DeFi functionality for every Ethereum-based asset on the market by enabling a permissionless listing mechanism on our platform. Essentially, anyone will be able to list any Ethereum-based asset on UniLend. In addition to cryptocurrencies, UniLend will also support full DeFi functionality for various derivatives and synthetic real-world assets (including the major FAANG stocks and precious metals) via our various partnerships with Injective, Mirro, Fantom etc... Moreover, UniLend will support elastic tokens as well in addition to many other hot new tokens in the market.

Checkout the growing UniLend Ecosystem 🙂

Binance:
Great, thank you very much for explaintion. Q2. Your team has mentioned on many occasions that UniLend is a very unique DeFi platform. Can you elaborate on what are UniLend’s main distinguishing features?

Chandresh Aharwar:
Well, of course there’s UniLends permissionless nature, but in addition to this UniLend’s money markets are not reliant on any outside protocols for liquidity and everything is handled within the UniLend ecosystem. This is possible because the entire platform and all its services are strategically mapped out to derive maximum value. current money market protocols are dependent on other DEXs like Uniswap etc. for liquidity (which is a major concern for adding illiquid & more volatile assets). Nobody has any sort of control on these DEXs, whereas in the case of UniLend, we’re deriving the lending/borrowing capacity of assets based on the liquidity available on our trading platform. Furthermore, we have already created key partnerships that will allow us to source liquidity very quickly. Some of these partnerships are with exchanges like CoinDCX, the largest exchange in India, and Probit, one of the leading in Korea, which will have a function that allows for assets on the exchange to be lent out to UniLend. This will not only benefit the exchanges we are partnered with, giving their users added functionality, it will also provide substantial liquidity to our protocol very early on. We’re also working in stealth on major product updates that will bring in liquidity very quickly. These updates will be live on our mainnet enabling our users to earn some extra rewards. Please stay tuned to our announcement channel to hear more about this, as it is coming very soon!

Binance:
Exciting stuff, looking forward to that announcement! Chat You can Join Unilend Announcement Channel to keep yourself updated with coming announcements. https://t.me/UniLendAnnouncement Q3. The native token of UniLend is $UFT. Could you please explain to us what the use-cases of $UFT are?

Chandresh Aharwar:
Great question. A very important use-case for UFT is community governance. It’s important for projects in DeFi to implement community governance to give the community a voice in the functioning and features of the protocol. As a community-centered project, this is a top priority for us. UFT holders will be able to issue and vote on proposals relating to updates to the protocol which require majority consensus to be implemented. UFT tokens will have some rewards attached to them as well. Liquidity providers of UFT tokens will be rewarded in the form liquidity mining rewards. Liquidity providers are a key element of any DeFi protocol to ensure sustainability and a great user experience. They will therefore be rewarded with UFT tokens via liquidity mining, and we have allocated an exclusive amount of tokens specifically for this. 15% of the total UFT token supply is reserved for liquidity mining & yield farming rewards. In addition to the liquidity mining rewards, liquidity providers of UFT will also be rewarded with a portion of all the fees collected from trading and borrowing. Furthermore, many upcoming platforms will integrate UFT as a currency, which will add utility to our token; similarly like the recent partnership with Playcent. We expect more such external integrations moving forward, as the popularity of UFT token continues to grow. This is just the tip of the iceberg, UFT will play a major role in the UniLend ecosystem. There are several more use cases of UFT which will benefit holders that are yet to be revealed. Some exciting announcements to follow on this front too.

Binance:
More great things to come! Thanks for sharing! Moving on to next question. Q4. UniLend has been steadily growing, building, and working on new collaborations with more and more projects in this space. What are some notable milestones UniLend has achieved so far?

Chandresh Aharwar:
Yeah, one of the major one for us was recent Binance Listing. It’s really important to us to deliver everything on our roadmap on time. We’re very proud of the fact that we have been able to do that. We‘ve been working tirelessly on the development of the platform and released our open Alpha Initium V1 protocol in late December. The community has shown a lot of interest and has given us some excellent feedback through testing, which gave us some great insights on how to improve for the development of our Beta release which is coming very soon. We have also forged many key collaborations with major industry players to expand the capabilities of UniLend and push the DeFi space forward. One significant example is our recent strategic partnership with Mirror Finance to enable decentralized lending and borrowing of synthetic stocks via UniLend. Yes, we’ll be the first protocol to offer this type of functionality. Get ready to lend and borrow the world’s major stocks (including the FAANG tech giant stocks). Our protocol has also collaborated with Injective Labs to allow users to yield farm on UniLend using Injective’s derivative products. Moreover, our protocol is working with Nord Finance which will integrate UniLend Finance into the Nord Advisory portion of their tech stack. Another notable collaboration is with Fantom Finance. This collaboration will add unique abilities to our protocol, such as being able to lend/borrow real-world assets. In the near future users will be able to acquire synthetic fUSD & fEUR, In addition to fGold and fSilver. Fantom Finance and Mirror Protocol will allow us to tap into an addressable market of over $15 trillion worth of assets. It doesn’t stop there though, we’re also working with projects like Union. Which will enable the UniLend platform to be among the first of the decentralized money markets to implement collateral optimization of assets while being staked (C-OP). C-OP will allow users on UniLend to convert a portion of their collateralized position to acquire protection for their collateral. These are just a few of our partnerships. As everyone can see, they offer tremendous value to our ecosystem, each and every one of them.

Binance:
Congrats, lot of achievements.

Chandresh Aharwar:
We are just starting.

Binance:
Q5. On the topic of development and UniLend’s roadmap what can we look forward to regarding UniLend’s future development?

Chandresh Aharwar:
We are already ahead of our roadmap! Launching the Alpha protocol was simply just the tip of the iceberg. We have a slew of huge updates on the way that our development team is working on as we speak. This is going to be an extremely exciting month for UniLend. To begin with we have some huge updates we’ll soon release which are not on the roadmap, everyone will want to stay tuned to our social platforms to stay in the loop. Some of these updates will benefit UFT holders significantly and this will be released on mainnet before our main product launch itself. Also, Our highly anticipated Beta release is around the corner as well. We have put in a lot of work into our Beta protocol and it is further refined from all the feedback we received from our active community during the Alpha testing rounds, which received 31 thousand+ applicants in our early access program. Another update our community has been really looking forward to is liquidity mining rewards for UFT liquidity providers. As I have said earlier liquidity providers are crucial for any decentralized protocol. Therefore, we’re going to be launching our liquidity mining very soon! You can see our full roadmap which spans until Q3 of 2021 here: https://buff.ly/2JvM15m. It's going to be a great month.

Segment 2: Quiz Round

1.When is UniLend’s mainnet scheduled to release?

• Q2 2021
• It is already released on Mainnet
  - Q1 2021
• End of year 2021

2. What were the current trading pairs live on Binance?

• UFT/ETH & UFT/USDC
  - UFT/ETH & UFT/BNB
• UFT/ETH & UFT/USDT
• UFT/ETH & UFT/BUSD

3. What is the name of UniLend’s Ambassador Program?

• Pride of UniLend
  - UniLend Legion
• UniLend Angels
• Team UniLend

4. Which is the most recent partnership that UniLend announced?

• Injective Protocol ($INJ)
  - Ramp Defi ($RAMP)
• Fantom ($FTM)
• Mirror Finance ($MIR)

5. What makes UniLend the one-stop shop for DeFi? (Select the most correct answer)
- Because the project aims to provide all major DeFi use cases including spot trading, lending, borrowing, and the permissionless listing of any 6000+ erc20 tokens

• Because it will support 50 different assets.
• Because the project aims to provide decentralized trading with permissionless listings.
• Because it will be a decentralized groceries delivery app.

Segment 3: Live Questions

Q1. Who are the potential customers of Unilend? and how will they benefit from your products and services?

Chandresh Aharwar:
Every user is our potential customer. If you have your wallet on ethereum or other chains we support, you are our potential customer. Infact, an average blockchain user becoming UniLend user is very likely. For eg:

• you might be holding n number of tokens in your wallet & not earning any yield out of it currently.
• You have your major portfolio in Eth & you want to go long/short on Eth
• You have portfolio in other Alt coin & you want to borrow Eth or Stable coin.- UFT/ETH & UFT/USDT
  In all case, you are UniLend user & this are just some examples- UFT/ETH & UFT/BUSD

Q2. 2020 covid-19 happened all over the world does it affect $UFT project and development, will your team have a new direction for 2021 while covid-19 is still there?

Chandresh Aharwar:
It's definately tough for many teams in COVID times, I have seen. But for us, it actually working perfectly well & we are able to manage all our operations with team working remotely. But yeah, knowing team well before COVID times definately helped us gel well over the period of time. Our development & all other operations are going completely as per plan.

Q3. Ambassadors play a very important role in every project, Do you have an ambassador program? If yes, how can I be one?

Chandresh Aharwar:
Yeah, we have one of the very successful Ambassador program, UniLend Legion. We are so lucky to have such an amazing extended team which supports us continuosly in our journey. If you would like to apply for Legion, please join our community & reach out to any admins.

Binance:
Thank you Chandresh. It has been great to have you with us today to talk more about UniLend’s business.

Chandresh Aharwar:
It was really great expereince. Binance community is just amazing. Thanks for being the awesome host buddy.

Binance:
Thank you chat for your time!