UniLend

Overview

UniLend Finance is a decentralized protocol that combines spot trading and money markets with lending and borrowing services using smart contracts. The UFT token serves as the platform's governance token and is required for participating in the protocol's decision-making.

Purpose and Utility

The primary intended use of UFT is governance of the UniLend protocol, allowing token holders to participate in protocol decisions. Additionally, UFT is used for paying transaction fees on the platform.

Business Model Analysis

The core business model revolves around decentralized lending and borrowing services. This aspect raises significant concerns from a Shariah perspective since lending for profit is generally considered impermissible in Islamic finance unless structured as a charitable act.

Development and Adoption

The project maintains active development on GitHub and has implemented multiple versions of its protocol. The platform has integrated with various blockchain networks including Ethereum, Polygon, and Binance Smart Chain.

Token Distribution

UFT has a total supply of 100 million tokens. The distribution includes allocations to the team, advisors, and early investors with standard vesting periods. The project maintains reasonable transparency regarding token distribution.