Genesis Shards partners with UniLend to bring next-gen flash loans to Genesis users
Genesis Shards has partnered with UniLend to provide Genesis Shards users and Genpad projects access to UniLend’s cutting edge flash loans product
UniLend is a permission-less decentralized protocol that combines spot trading services and money markets with lending and borrowing services through smart contracts.
- Genesis Shards and UniLend are entering into a long-term strategic partnership. The collaboration will provide Genesis Shards users access to UniLend’s lending modules to purchase, stake, and loan out GS tokens.
- This will be executed through flash loans by creating staking pools for participants to stake GS tokens and UniLend’s airdrop feature will be used to reward participants and the community.
- UniLend will also come aboard as an Ecosystem Partner for projects launching via PreIDO on Genpad; Projects that conduct their pre-IDO on Genesis Shards will gain access to UniLend’s lending and Flash Loans features
UniLend flash loans are a game changer in the industry, giving their users the ability to take a flash loan using 6000+ assets on the market, unlike some platforms who only give access to 20 to 30 assets. The UniLend flash loans also have the added benefit of being upto ~3x more gas efficient than other popular products.
Furthermore, users can opt to have their liquidity staked on the UniLend platform to be used for flash loans. Stakers would receive 70% of the fees generated from the usage of the flash loans.
Another exciting new feature in the UniLend flash loans product is ‘airdrop’ — wherein anyone can instantly airdrop tokens to all the pool participants. The allocation of these airdropped tokens are based on the users’ staked liquidity at that specific time.
Through a strategic long term partnership, Genesis users will be able to access UniLend’s lending modules to purchase, stake, and loan out GS tokens. This will be executed through flash loans by creating staking pools for participants to stake GS tokens and Unilend’s airdrop feature will be used to reward participants and the community.
Through the partnership, UniLend will be able to acquire a whole new audience, as the entire Genesis community gets introduced to the flash loans.
“Partnering with UniLend is a significant step forward for Genesis Shards. GS token holders and Genpad projects will be able to take advantage of the cutting edge flash loan product offered by UniLend ”
— Nilotpal Mukherjee, Genesis Shards Co-founder
“We’re excited to support Genesis Shards on our flash loans platform — we believe it will add immeasurable value to the token holders and Genpad projects. We’re excited to see our partnership with Genesis Shards flourish.”
— Chandresh Aharwar, UniLend Co-founder & CEO.
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About UniLend
UniLend is a permission-less DeFi protocol that combines spot trading services and lending/borrowing functionality within the same platform. We are opening this functionality to new and innovative DeFi technologies.
UniLend’s mission is to create new opportunities within the DeFi space by welcoming the rest of the ERC20 token ecosystem and beyond to the DeFi world, hence their motto “unlocking the true potential of decentralized finance.”
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About Genesis Shards
Genesis Shards is a decentralized ecosystem powered by Polkadot redefining NFTs as DeFi options, creating a permissionless environment of interchain liquidity for pre-IDO tokens. By wrapping time-locked fungible tokens into NFTs, Genesis Shards is creating a new marketplace for previously illiquid tokens
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The next major steps in Genesis’s journey will be announced soon ! Keep an eye on this space for updates.
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