My favorite DEFI project Injective Protocol partnered with the power protocol Unilend for more yield farming opportunities

frankydoodle (59)in #injectivelabs • 3 years ago

Good morning everyone! This is your Mr. Decentralized again and today, I am so excited because I would like to tell you guys about the recent partnership of Injective Protocol and Unilend! If you may not know, I am one of the early followers of Injective even before it goes into Binance. I already saw the potential of the derivatives, Futures, synthetic stocks from global market, and cryptocurrency pairs being traded using gas-less transactions with decentralized order books and with Layer 2 capability wherein transactions are being done off-chain then broadcasted through the use of on-chain broadcasting. Aside from the amazing gas-free transactions, it will be super quick to transact as well using the Solstice and other things as Injective Protocol exchange goes live.

You may want to check out my other blog as well here that I wrote about Injective Protocol's primer made by yours truly.
https://steemit.com/injectiveprotocol/@frankydoodle/injective-protocol-its-competitive-advantages-in-the-defi-space-and-why-you-should-use-injective-protocol-platform-compared-to

So going back to the partnership of Injective Protocol and Unilend, as I have read the article which can be seen here: https://blog.injectiveprotocol.com/injective-partners-with-unilend-to-unlock-new-yield-farming-opportunities/

The arsenal of the Injective protocol chain widens because of their partnership with Unilend. Why? Because as a yield farmer myself, sometimes, you may miss the opportunities to have your assets to earn yields just because they are not being considered as a farmable asset for liquidity mining. Hence, you just rely on the price appreciation of your ERC-20 asset. With Unilend, you will be able to make your sleeping assets to be traded on the Unilend platform because they do have the feature called 'Permissionless listing'. Wherein if you wanted to list a token of any ERC-20 token to be traded, you are free to do that without any need for KYC, funds proof, etc.

Aside from that, the Unilend does have features of lending and borrowing any ERC-20 tokens. With the help of Injective Protocol's derivatives and stock futures, the Unilend can provide the synthetic assets from any ERC-20 tokens that has liquidity to be able to represent a certain percentage for trading certain synthetic stocks, derivatives futures and stock futures without compromising the assets underlying it because as I have read in the Unilend partnership and Injective, they are already working with Chainlink as well as their price oracle.

If you may also want to check out their website, Unilend and Injective protocol tokens have the power to govern the protocols. You as a holder of the native tokens $INJ and $UFT, aside from being able to get trading fees as a liquidity provider, will also get the power of being in the governance of the two tokens.

I am excited about it because it is like the 'Balancer' competitor or could even beat Balancer with the power of these 2 projects combined now. DEFI as a whole will give the yield farmers and traders more chances to earn yield and gains for a more prosperous life and adoption of the crypto worldwide. Kudos to both of the owners of the project and its teams!

I also bought the 2 tokens as well because aside that I liked derivatives and gas-free transactions, I also want to get yields from both! In due time, Unilend could be in the Binance platform as well.

Thank you for reading my summary or review of this new partnership. More to come for both projects!

$INJ $UFT #Injectivelabs #Unilend # DEFI #ETH #derivatives