Permissionless Money Market Protocol, UniLend to explore e-Money’s stablecoins
The crypto ecosystem may be facing headwinds due to macroeconomic factors as well as liquidity issues with several projects, but leading decentralized finance projects have emerged relatively unscathed. In fact, projects with robust technology and sound economic models continue to build, despite the downturn. It is imperative for protocols to onboard assets that are secure and regularly audited by authorities, to mitigate risk factors and facilitate new cohorts of users to the Web 3.0 world. As such, UniLend, a multi chain permissionless lending and borrowing protocol is exploring e-Money’s suite of European stablecoins within their ecosystem.
e-Money stablecoins on UniLend
e-Money’s suite of fully compliant, asset-backed, and interest-bearing stablecoins such as EEUR, ECHF, ESEK, ENOK, and EDKK offer a strong alternative to dollar-denominated digital currencies. UniLend plans to explore the integration of these stablecoins within its ecosystem, thus enhancing the quality of assets on its platform. Furthermore, this collaboration will enable UniLend to gain access to a European user base and onboard a new cohort of users to trade on its protocol.
UniLend explained
UniLend offers a comprehensive set of DeFi services. The platform offers permissionless lending and borrowing functionality for tokens. Users can enable their token’s functionality for lending to get an interest rate and borrowing to pay an interest rate. The flash loan feature facilitates uncollateralized loans, arbitrage opportunities, and collateral swaps.
These features are available for every ERC-20 token, which are able to list without any entity controlling the listing process.
About UniLend Finance
UniLend is a Multichain permissionless Lending & Borrowing protocol for all ERC20 tokens. We are developing a Futuristic Base Layer for all DeFi applications.
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About e-Money
e-Money is a blockchain-based payment platform built by Danish fintech e-Money A/S, committed to bringing financial inclusion and helping people around the world to have easy access to digital currencies. Built on Cosmos technology, e-Money supports a range of fiat-stablecoins which are fully backed by bank deposits and government bonds that are also interest bearing. The fidelity and transparency of e-Money stablecoins will be ensured by Ernst & Young providing quarterly Proof of Funds.
e-Money currently supports several European currency-backed stablecoins such as the EEUR, the ECHF, and tokens backed by Scandinavian currencies (ENOK, EDKK, and ESEK). The e-Money ecosystem has a second token, the NGM “Next Generation money” which is a staking token and rewards token. Users can stake NGM to secure the e-Money network.
Unlike most existing stablecoins which aim to maintain a static 1:1 peg with their underlying assets, the value of e-Money’s currency-backed tokens continually shifts in line with the interest accrued on the reserve assets. This means that holders benefit from the interest accrued on their assets while they sit securely in your wallet. The e-Money blockchain supports instant payments at scale and includes a DEX for easy conversion between currencies. e-Money has already integrated with Cosmos Hub, Osmosis, and Ethereum and expects to integrate with all major networks moving forward.
