As the Decentralised Finance (DeFi) industry emerges, partnerships and relationships between protocols also materialise. In recent news, a pioneering and permissionless protocol has announced a collaboration to strengthen aspects of their projects respectively. The two entitites that have joined forces are Forward Protocol and UniLend. The UniLend (UFT) project is eager to leverage Forward Protocol’s lending and borrowing features.
UniLend (UFT) is a decentralised permissionless protocol and comes equipped with an array of features including spot trading as well as borrowing and lending services. UniLend is also a liquidity provider and has internal lending systems that can be utilised for loans on the platform. Investors can buy UFT tokens, the protocols native coin to access the protocols services. Staking participants that utilise the borrowing and lending mechanisms are rewarded in UFT and staking participants are also eligible for governance privileges.
According to the Forward Protocol, they are excited for the collaboration and the developing relationship with UniLend. As shared in a recent announcement, the team at Forward Protocol have praised UniLend for its pioneering strides in the DeFi industry. They went on to state that UniLends progress shows no signs of slowing down sighting potential further smart contract integration. Nevertheless, UniLend will gain access to the Forward Protocol’s liquidity pool, lending and borrowing protocols, meanwhile Forward Protocol will be able to improve its smart contract infrastructure with assistance and on hand expertise from UniLend. Forward Protocol is conscious of its need to improve its current smart contract systems, showing optimism that the partnership will lead to improvements and growth of its EdTech sector.
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