Dfyn Network Partners With UniLend to Bring Flash Loans and Staking for $DFYN
We are pleased to announce that we have partnered with UniLend, a leading DeFi protocol, to bring its smart contract lending and flash loan services for $DFYN token.
The growing need for a better network has made Polygon one of the fastest-growing Ethereum scaling solutions, with an increasing number of projects looking to make use of its near-zero gas fees and seamless user experience. We at Dfyn have realized the potential Polygon has and have tailored our network to make the best use of what it has to offer.
We have decided to partner with UniLend, a leading DeFi protocol, to bring new features to our users and expand the overall functionality for $DFYN token. As a result of this partnership, Unilend’s native token $UFT will also be listed on the Dfyn Exchange. A UFT-DFYN farm has also been created in the Dfyn Ecosystem Farms category where 700 $DFYN tokens per day will be rewarded to stakers of UFT-DFYN LP tokens for the next 2 months.
Recently launched on Polygon, UniLend intends to offer comprehensive DeFi functionality to its community. All of UniLend’s users holding ETH and other ERC-20 tokens bridged to Polygon will be able to use their assets for decentralized trading, lending, borrowing, flash loans, yield farming, and much more.
Unilend will now support borrowing and lending for $DFYN tokens. Members of our community will now be able to put their idle $DFYN balances to good use and earn an attractive return for lending their tokens. Traders will also be able to execute $DFYN flash loans for their trading activities.
Dfyn will also work strategically with Unilend to develop lending/borrowing markets for other tokens entering the Dfyn ecosystem. Like Dfyn, Unilend also has multi-chain ambitions for its protocol — which makes this partnership a perfect alignment of synergies.
UniLend’s flash loans are an uncollateralized loan option to launch on the Polygon network. Designed especially for developers, Flash Loans enable instant and easy borrowing and require no collateral if the liquidity is returned to the pool within the same transaction block. If the liquidity is not returned within the same block, the whole transaction is reversed and all actions are effectively undone.
Users that lend their $DFYN tokens to the UniLend Flash Loan pool will be able to receive their portion of the fees generated from the usage of the flash loans feature. The rewards will be distributed based on each user’s pool percentage.
We are confident that the Dfyn community will embrace the new opportunities brought on by our partnerships. Teaming up with a growing DeFi protocol was a natural step forward both for our team and the team behind UniLend, which is set to benefit from the huge amount of trading volume and liquidity the Dfyn network has seen.
Stay tuned for more details about $DFYN Flash Loans, including a detailed overview of the expected APYs and staking requirements once the planned feature goes live.
UniLend is a decentralized permissionless protocol that combines spot trading and money markets with lending and borrowing services. UniLend’s infrastructure is able to support any ERC-20 token and has no restrictions when it comes to scalability and flexibility.
The protocol allows both trading and DeFi capabilities to co-exist within the same protocol, enabling network participants to create their own lending and risk management strategies for lending, borrowing, and spot trading.
Telegram Announcements: https://t.me/UniLendAnnouncement
Dfyn is a multi-chain AMM DEX currently functional on the Polygon network. Dfyn nodes on various chains act as liquidity entry and exit points into the cross-chain liquidity super mesh that is being enabled by Router Protocol.
Telegram Announcements: https://t.me/dfynofficial