UNILEND FINANCE AMA WITH CRYPTO TECH —23 FEBRUARY 2021
UniLend Finance had an AMA with Crypto Tech on the 23rd of February 2021. The Marketing & Operations Lead @_ayushgarg and Community Lead @VishalHKothari joined the Crypto Club Telegram community for the eventful AMA.
During the AMA, they gave an overview on the Unilend Finance project and answered questions as well.
The AMA was broken down into three segments.
1). Project Introduction ( Session 1)
2). Q&A From Twitter ( Session 2 )
3). Live asking and choose the best 3 questions ( Session 3)
4). Questions from Unilend’s Indonesian adn Vietnamese telegram communities.
Details below:
INTRODUCTION
Andy Sareank || Cryptotech Community🇮🇩
Hello @ayushgrg @VishalBlockchain welcome to your first AMA at Cryptotech. We are glad to have joined hands in a strategic partnership. Today I hope you can share with us more information about ++Unilend in the Cryptotech Group.
Ayush Garg
Hey @AndySareank
Glad to be here
Vishal 🦾
[In reply to Andy Sareank || Cryptotech Community🇮🇩]
Hey Andy
Please to be here
Ayush Garg
Today is a remarkable day for us in many ways indeed
Andy Sareank || Cryptotech Community🇮🇩
Are you ready for ama today?
Vishal 🦾
[In reply to Andy Sareank || Cryptotech Community🇮🇩]
Yes
Andy Sareank || Cryptotech Community🇮🇩
Okay, before starting the first session I will ask a little about yourself @ayushgrg @VishalBlockchain
Vishal 🦾
Sure
Hey, I am Vishal Kothari — Community Lead at UniLend Finance.
I have started my career from Computer Education in 1998 and jumping from various IT related businesses finally realised the best thing technology has given us is the Cryptocurrency as I was studying and researching about cryptocurrencies since 2014.
I have been guiding projects on marketing front & community growth from more than an year & have been an early part of UniLend Team from start .
Ayush Garg
I am from Computer Science background with experience working at companies like Uber and Box8 (Indian startup with INR 700cr valuation)
I have been part of Crypto space since early 2017. I have also worked with Startup Oasis — Initiated by IIM Ahmedabad and Rajasthan Gov.
Last year, around August we started working on UniLend. I have been part of UniLend’s team since launch and now leading front in Marketing and Operations.
Vishal 🦾
..
Andy Sareank || Cryptotech Community🇮🇩
Thanks sir
Your experince will certainly motivate us in the future☺️
In the first session I will give 3 questions ,if you have give an answer please say “Done”
Let’s start sir
Ayush Garg
sure
Andy Sareank || Cryptotech Community🇮🇩
First question, Can you tell the members a little about unilend finance?
Ayush Garg
Sure!
Before we get started I would like to give a shout out to my team for their relentless work, recently we opened our Alpha, Initium V1, to our entire community after successful early access program.
We’re making excellent headway on our roadmap and we’re preparing to launch our Beta this month!
But we are also working on a new product feature which we have teased our community about😅
But to be honest with this announcement UniLend will definitely look much more like a moon star in Defi space is it is not yet seen like that.
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
Ayush Garg
An easier way to describe UniLend is combination of Uniswap and Aave. But this is not exclusive as we are planning so many features in futures.
UniLend will also have a robust governance model powered by UFT (UniLend Finance Token
And our $UFT token got listen on Binance today
Ayush Garg
https://t.me/UniLendAnnouncement/190
Andy Sareank || Cryptotech Community🇮🇩
That’s great sir
This project it’s amazing guys
Oke next
Andy Sareank || Cryptotech Community🇮🇩
Can you please give us a brief overview of UniLend?
Ayush Garg
I have given overview above, for more info check out www.unilend.finance
Andy Sareank || Cryptotech Community🇮🇩
Maybe you can share a little about the partnerships you’ve recently released information about?
Vishal 🦾
[In reply to Andy Sareank || Cryptotech Community🇮🇩]
Everyone probably noticed that we recently strategically partnered 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).
Vishal 🦾
Also, we’ve recently entered into another cutting edge partnership with Nord Finance, who’ll be integrating UniLend Finance into the Nord Advisory portion of their tech stack. This will enable new DeFi investing strategies for the DeFi community. Nord Finance’s community will be introduced to the innovative features of our protocol, thus helping to further enhance our future growth as well.
Vishal 🦾
There’s a whole lot more cooking behind the scenes. For example, UniLend is currently working with Fire Protocol to enable UniLend to bring more assets to Huobi Eco Chain (HECO). In addition, our teams are currently working together to explore wrapped UFT to bring UFT to Fire Protocol, and ultimately to HECO.
Vishal 🦾
Again this is just the beginning, many more collaborations and unique protocol functionalities are yet to be announced time by time.
Ayush Garg
We also recently partnered with Fantom for listing $FTM tokens and listing $ftm synthetics on UniLend’s platfor
https://t.me/UniLendAnnouncement/166
Andy Sareank || Cryptotech Community🇮🇩
Oke last question in segment 1
Andy Sareank || Cryptotech Community🇮🇩
This all sounds so exciting! One question about security — how can users be sure they are safe while using such a new protocol?
Vishal 🦾
[In reply to Andy Sareank || Cryptotech Community🇮🇩]
A Very good question
Vishal 🦾
I would say we are much more secure than other money market protocols. For example, current protocols are dependent on other DEXs like Uniswap etc. for liquidations (which is a very big concern for adding illiquidity & more volatile assets)
Vishal 🦾
Nobody has any sort of control on these DEXs, whereas in the case of UniLend, we are deriving the lending/borrowing capacity of assets based on the liquidity available on our trading platform. Hence, we are not dependent on any other protocol for liquidation & everything is handled within the UniLend ecosystem.
Vishal 🦾
The problem we are solving is quite large and it requires a complete ecosystem to be built for catering to such a problem. Progress on this front is going strong.
Maximum security is a key priority of UniLend Finance, we are picking up where key DeFi protocols like Uniswap left off and continuing the development of the decentralized finance revolution.
Vishal 🦾
Also like our roadmap suggests, during Q1 of 2021, we will have proper audits in place from a variety of the best industry players to make sure our protocol is safe for users.
Vishal 🦾
..
Andy Sareank || Cryptotech Community🇮🇩
Oke we move to second session
Questions from twitter
Q&A From Twitter ( Session 2 )
Andy Sareank || Cryptotech Community🇮🇩
Q1. What does the UniLend name stand for? There are interesting stories behind every successful project, and of course you have to work hard ever day. Can you share one of these interesting stories with us? From @lona321ama
Vishal 🦾
[In reply to Andy Sareank || Cryptotech Community🇮🇩]
Basically its Universal Lending and Borrowing project for permission less listing to the platform so … Simply we have merged First two words of the Universal Lending and formed UniLend
But yes now this name is a very prestigeous name in the DeFi world as we all know. Today itself we are listed on Binance and Gate.io and I would suggest community to keep an eye at @UniLendAnnouncement for more exciting news upcoming the way ;)
Andy Sareank || Cryptotech Community🇮🇩
Ok, great answers so far. Above you stated you’re picking up from where Uniswap left off? I heard your team has great comparison articles in regards to this, could you expand on this topic and let us know where we can find these articles?
Ayush Garg
Yes, to clarify, we have the utmost respect for Uniswap and the other leading protocols for being trailblazers in the DeFi space. That said, we believe that our comprehensive DeFi functionality and permissionless listing model will facilitate the evolution of DeFi and bring the next wave of users into the DeFi space.
Ayush Garg
Our community has requested further clarification on UniLend’s strengths as a DeFi protocol, which is why we launched our DeFi Dissected article series. The goal with the series is to show the cryptosphere why we will be a major contender, with more to offer than our competitors. UniLend is a unique protocol that is capable of truly revolutionizing DeFi.
I would encourage everyone to follow us on our UniLend Medium (https://unilend.medium.com/) to stay up to date on our collaborations and to take a look at the DeFi Dissected article series for themselves.
Ayush Garg
Two of the most recent articles within this series were for comparing UniLend with Aave and Uniswap, here are the links to get you started:
Comparison with Uniswap
(https://unilend.medium.com/defi-dissected-unilend-finance-taking-the-uniswap-defi-revolution-to-the-next-level-b576ce915350)Comparision with Aave (https://unilend.medium.com/defi-dissected-a-brief-comparison-of-unilend-and-aave-2e7726c1e7ee)
Andy Sareank || Cryptotech Community🇮🇩
Q3. Currently hacking is a terrible thing for the defi project, can you explain the security that the UNILEND project has, especially the security of our assets and data, and how the UNILEND strategy becomes a big project and is known in the Crypto world? From @Jinjrx
Ayush Garg
The security of funds of our users and projects who are providing liquidity is the utmost priority for us. We are taking significant measures to prevent any calamity. To begin with, we will do a guarded launch with only trusted projects initially till the platform is stable.
Ayush Garg
Also our smart contract will be reviewed by industry experts and certified with trusted names
And lastly, in case of liquidation, we will not be interacting with any other DeX as we will have that built-in, which itself reduces the exposure
Andy Sareank || Cryptotech Community🇮🇩
Okay next
Andy Sareank || Cryptotech Community🇮🇩
Q4. What are the possible ways to get $UFT? Will it be exclusively through Farming?Also what are the advantages of being a holder when using the platform? From @ontortk
Ayush Garg
[In reply to Andy Sareank || Cryptotech Community🇮🇩]
There are many way to purchase $UFT, you can purchase from Major exchanges like Binance and Uniswap.
There is no farming pool live currently live.
Also you can get $UFT in rewards 😉
The advantages of UFT holder will be as followed -
$UFT will be used in transaction happening on our platform and $UFT will get some benefits like discounts.
Another major benefit is in governance as we are a permissionless protocol, the governance is decentralised and it will be driven by $UFT holders
Andy Sareank || Cryptotech Community🇮🇩
Oke next
What really is the mission and vision of this Unilend project? simply develop a fully decentralized protocol that provides greater liquidity to its users without the need for permissions and restrictions? From @khaiviphy123
Vishal 🦾
[In reply to Andy Sareank || Cryptotech Community🇮🇩]
In one line …. Welcome every ERC20 token to DeFi
Ayush Garg
This definitely in our vision but as I stated earlier, we want to take up the Defi revolution from where Uniswap brought it. We are developing solutions for complete defi markets
Vishal 🦾
Like Ayush said we believe that money market should be inclusive not exclusive
Ayush Garg
Being permissionless, our protocol has potential to flip the current the market completely ushering into a new eara
Andy Sareank || Cryptotech Community🇮🇩
In need of advanced technology and being able to observe what investors prefer to be able to join, how does UNILEND prioritize investors if joining the UNILEND project will it be the main focus by providing profits to investors? From @ciknung3
Vishal 🦾
What should i say when our seed investors got $UFT in $0.07 and private sale was at $0.12 and public was at $0.15 and now we are listed on the world’s biggest exchange with live price of $3 around.
Vishal 🦾
Yes we are aiming to the DeFi Revolution price will follow for sure as per advancement of the protocol , once go live on mainnet.
Andy Sareank || Cryptotech Community🇮🇩
Oke we move third session
It’s time to live question
Andy Sareank || Cryptotech Community🇮🇩
Give your best question. We’ll activate the chat feature for 60 seconds
Rules To Follow AMA‼️
-One participant is only given a maximum of 2 question
-Do not ask repeated questions or copy other people’s questions
-Join group
@UnilendFinance
@Unilend_Vietnam
@Unilend_Indonesia
@Cryptotech_Community
-Follow Channel
@Cryptotech_News
Andy Sareank || Cryptotech Community🇮🇩, [23.02.21 16:43]
Okay, for the live question segment, please ask your questions in the Unilend Indonesian and Unilend Vietnam groups.
Each will be selected 4 winners
Join Now👇
@UniLend_Vietnam
@UniLend_Indonesia
Andy Sareank || Cryptotech Community🇮🇩
after you have selected a question, please continue the question here and then answer sir
@ayushgrg
@VishalBlockchain
Andy Sareank || Cryptotech Community🇮🇩
Are you ready guys
QUESTIONS FROM COMMUNITY MEMBERS
Crypto Guy
What is your pertneship with injecttive protocol, how UFT holders will get benifit iut of it?
@ayushgrg
Vishal 🦾
[In reply to Crypto Guy]
A very good question ….
UniLend and Injective are partnering to allow users to yield farm on UniLend using Injective’s derivative products
Injective helps in the creation and trading of derivatives markets, while UniLend’s innovative borrowing/lending functionality will amplify the use cases of these markets
$INJ and $UFT will be listed on one other’s platforms soon, further expanding the current reach of both parties
Together we’ll unlock groundbreaking DeFi strategies never before seen in the space
Steven
NFT is very popular this year, in this use case the asset is Digital Arts … So is Unilend planning to add NFT to its platform?
Ayush Garg
[In reply to Steven]
No plans yet, but yes this is a very exciting stuff, hopefully in future we will do something in this field. But you can our partner Playcent, who are working in similar field.
kuluk and uhuk
How will the demand for $UFT token will increase in the future or What steps would you take to increase the demand? May I know how do you plan to attract more business partnerships to your project?
Ayush Garg
[In reply to kuluk and uhuk]
The total $UFT supply is 100 million, and as UniLend’s platform grows and the $UFT being used in governance and fee and many other applications, the prices will go up we believe. We have a basic rule, when looking for partners, they must bring something unique to the UniLend Ecosystem, so our community can find new ways of earning from their innovative financial applications
Ngôi Làng Của Gió
Do you have any plans to attract non-crypto investors to Unilend exchange and how? What are the actions to increase awareness around Unilend exchange in non-crypto space?
Vishal 🦾
[In reply to Ngôi Làng Của Gió]
Yes we are bringing real world assets to the defi in collaboration with our partners
Like with Mirror protocol we 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).
and with OpenDeFi by OroPocket we are bringing Real-World Assets to DeFi, with Addressable Market Cap of $15 Trillion.
Oishiya🥰🥰
I am an EXPERIENCED DEVELOPER AND ETHICAL HACKER, do Unilend have plans for HACKATHON so as to check the security of your ecosytem periodically and also invite developers to build?
Ayush Garg
[In reply to Oishiya🥰🥰]
Thats great, we are a pro ethereum project and we have recently sponsored major event in Asia. Etherpunk by ETH India, in future also we are planning to sponsor such events and also hire good developers in our team through these events.
Ayush Garg
We will open our bounty program to the developers as mentioned in our roadmap.
Ayush Garg
https://t.me/UniLendAnnouncement/168
Ayush Garg
Check this out, our founder Chandresh Aharwar’s live interview where he explained about UniLend to budding developers.
Andy Sareank || Cryptotech Community🇮🇩
Thanks for answer @ayushgrg @VishalBlockchain
Ayush Garg
I guess now we can move to our Vietnam Community!
there also we will take 4 questions
Andy Sareank || Cryptotech Community🇮🇩
Alright my friends.
AMA CRYPTOTECH X Unilend Has Finished🥳 thank you all for your enthusiasm.
Andy Sareank || Cryptotech Community🇮🇩
All of you members join unilend vietnam
And prepare your question
Vishal 🦾
If anyone wanna continue AMA can join us at https://t.me/UniLend_Vietnam and ask more questions
UNILEND VIETNAM TELEGRAM COMMUNITY
Ayush Garg
Hey everyone
Vishal 🦾
Hey everyone
Ayush Garg
We are going to start our next session of AMA here.
ACV
The UFT is the native token of the Unilend platform and is described as Utility token to Governance, platform use and much more, so can you tell me what is exactly that much more? Discounts, Unique bonuses maybe?
Ayush Garg
[In reply to ACV]
Yes we are planning marketing activities around $UFT token for early adoption but that’s just the small part of it. The governance is the strongest part of our token and its usage is integrated over our platform.
prettyboy 07
What are you focusing on at the moment: DeFi, Staking or Farming? What are your goals for the end of the year and beyond?
Vishal 🦾
[In reply to prettyboy 07]
We are aiming in our prioritized mission of building an ecosystem for every ERC20 token to be inclusive for DeFi and money market and that permission less way so we can tap the untapped market in ERC20 tokens
Cao Quyen
What is your plan for global expansion? At present, which market does Unilend focus on, or is it focused on building and growing to gain customers, users and partners?
Vishal 🦾
[In reply to Cao Quyen]
We believe in ease of communitcation so we have formed UniLend Vietnam 🇻🇳and UniLend Indonesia 🇮🇩 Community and also we are forming a community for UniLend Nigeria 🇳🇪 soon….
𝙇𝙚𝙤𝙨𝙣𝙫𝙖𝙣 Mam
Crypto projects were closed in many countries due to improper regulation and licenses. How does UNILEND project solve these problems?
Ayush Garg
[In reply to 𝙇𝙚𝙤𝙨𝙣𝙫𝙖𝙣 Mam]
This does not apply to us, our project is not owned by a central authority and completely decentralised. Also we are working with cryptos on our platform,no fiat currencies.
Vishal 🦾
Let’s go to our Indonesia Community for remaining questions @UniLend_Indonesia
UNILEND INDONESIA TELEGRAM COMMUNITY
Ayush Garg
Welcome everyone!
Vishal 🦾
Group will remain open for 30 seconds to collect the questions
Let’s Go.
Ayush Garg
Welcome everyone!
Vishal 🦾
Group will remain open for 30 seconds to collect the questions
Let’s Go…
Ayush Garg
While we answer the questions, please check out our global community and our twitter
We have regular giveaways running there as well
https://twitter.com/UniLend_Finance
https://t.me/UniLendFinance
Rabit
where does the unilend price influence the most? and are you not afraid of the risk of the price going down when you enter binance?
Vishal 🦾
[In reply to Rabit]
When you have a good protocol and a good team no worries about the price
Crypto Guy
How we can trust on Unilend and Can you please put more light on Unilend team.
Vishal 🦾
[In reply to Crypto Guy]
A very good question…
Vishal 🦾
[In reply to Crypto Guy]
If you can see twitter World’s biggest exchange CEO CZ already follows CEO and Co Founder of UniLend Finance Chandresh Aharwar and Community Lead Vishal Kothari that’s me ;)
Also our Marketing & Operations Lead @ayushgrg has experience to work with World’s biggest platform like Uber
So no doubts about trust, We are here for long term for sure.
Hieu Trung
I want to support your project. Tell us more about the Ambassador Program and in what ways can we participate ?
Vishal 🦾
[In reply to Hieu Trung]
Contact me in DM please
Lorin Mendis
Does UniLend also plan to create similar tokens in other chains, such as Binance Smart Chain / Houbi ECO Chain?
2nd question
Many of investor just focus on the price of token in short term instead of real value of project. Can you tell us the motivation and benefits for investors to long term?@ayushgrg
Ayush Garg
[In reply to Lorin Mendis]
We are focused on our Mainnet for now. Once our product is stable on ethereum, we will look into crosschain operability. But it is not a priority currently.
Hieu Trung
Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to your platform and keep them long term?
Vishal 🦾
[In reply to Hieu Trung]
We have a great marketing team and yes with that we are getting more traction and a positive feedback
Ayush Garg
@Xiaoryls please help in translating as well
Xiao Ryls 🇮🇩
[In reply to Ayush Garg]
Sure sir.
Vishal 🦾
Great journey so far
Vishal 🦾
we will catch you all tomorrow with more exciting updates
till that time joine @unilendFinance
also join our official announcement channel @UniLendAnnouncement
Vishal 🦾
Great time ahead
