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BTC $41410.21 (-5.3%)
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BCH $497.51 (-7.3%)
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DOGE $0.20 (-7.5%)

DeFi Protocols: UniLend Announces Partnership With StaFi

DeFi Protocols: UniLend Announces Partnership With StaFi
  • DeFi protocol StaFi (FIS) partners with UniLend
  • UniLend offers borrowing, lending, and spot trading features to all StaFi network users

DeFi protocol StaFi (FIS) has partnered with the UniLend ecosystem, a first in the history of the StaFi network. This partnership aims to maximize the utilization of FIS tokens on DeFi protocols.

This partnership also enables the StaFi network to take advantage of new avenues of yield generation in the UniLend ecosystem. As a result, StaFi expects mass adoption of its token.

These developments with UniLend made the CEO of StaFi, Liam Young react:

The main reason for the limited borrowable assets in the lending market is liquidity. If the liquidity issue is tackled, then any asset can become a lending market.

Young further added that UniLand understands the challenges that the crypto market is facing right now. “UniLend has its eyes on the urgent problems in the lending market, and so it has integrated DEX liquidity with lending, he said. “The integration of rToken is undoubtedly a big step closer to the goal.”

Meanwhile, traders who staked their digital assets in the StaFi network will receive an equal amount of reward-token (rToken). This is an ERC20 token that enables traders to utilize UniLand’s borrowing, lending, and spot trading features.

Moreover, the DeFi space continues to be popular among investors. Lately, Cardano CEO Charles Hoskinson made a DeFi case study for Africa. He states that Africa has a promising future for DeFi projects. Today, the DeFi total value locked (TVL) remains on top of $14 billion. Hence, it is a clear indication that DeFi still has the trust of investors.

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.