By Tyler S - Bitcoin Broker - 29-09-2021
As the Decentralised Finance (DeFi) industry grows, we are seeing more collaborations. Recently, a pioneer blockchain and a permission-less protocol have joined forces to strengthen the features and functionalities of either platform. The two companies that are collaborating are Forward Protocol and UniLend. Reportedly, UniLend (UFT) will utilise Forward Protocol's lending and borrowing features.
UniLend (UFT) is a decentralised permissionless protocol; it combines spot trading with borrowing and lending services. UniLend also provides liquidity for asset trading as well as loans to use on the platform. Users can buy UFT tokens, the protocol's native crypto market investment, to use for governance and voting. Investors can also earn UniLend through borrowing, lending, and trading on the platform, as they will be rewarded with UFT.
According to the Forward Protocol, they are looking forward to developing and collaborating with UniLend. The team at Forward Protocol have stated that UniLend has made great strides in development within the industry. They further stated that UniLend has come far and even shows significant potential with its smart contracts integration. Even though UniLend will be utilising Forward Protocol's borrowing and lending features, Forward Protocol will also be utilising UniLend's smart contract knowledge. Forward Protocol's need for working with smart contracts is to help the EdTech sector expand, and by bringing in the well-need technology, it will bring transparency and decentralisation to the industry. To further expand the EdTech sector, Forward Protocol has plans to improve it through more high-quality collaborations.