UniLend was founded in 2019 by Chandresh Aharwar for Polygon, which was formerly Matic. Aharwar saw a new opportunity in the blockchain and spent a year and a half building a blockchain ecosystem.

What is UniLend?

UniLend is like a complete ecosystem that provides lending services in the DeFi ecosystem. It is like a combination of Aave in the lending field and Uniswap in the DEX field. Uniswap provides users with a license-free lending platform, but only 30 well-known tokens in ERC20 assets can be utilized for a mortgage on Uniswap.

So, UniLend likens itself as “providing services similar to UniSwap but allowing all ERC20 tokens to be sued for mortgage and lending services.

Target Users and prospects

UniLend plans to support customers who use any cryptocurrency in ERC20 assets. UniLend founder Chandresh Aharwar said anyone who understands how UniLend works is a potential customer.

"If you understand how UniLend and blockchain work, then you are our potential customer. If you hold 30 specific assets of ERC20, you may be a customer of other agreements, but for UniLend, hold any ERC20 tokens. Anyone can be our customer.” Aharwar said.

UniLend is developing a vast market potential since it does not have any competitors in the field yet. Although UniLend is still in its infancy, UniLend has offered more than 50 partners and more blockchains such as Binance Coin to the users to bring continuous liquidity to the platform.

Fusion Farming

Fusion Farming is an innovative mechanism offered as a solution by UniLend to some of the problems that come in liquidity farming. By staking a single token, UniLend users can gain multiple token incomes. This is a technology that is suitable for anyone.

Other than being a convenient platform. Users can also gain discounts on gas fees. Those who trade on the Ethereum chain with meta-transactions can get a 25% discount.  They can also use other tokens to pay for the fee. UniLend will continue to develop and offer better services and experiences to users in the future.