uBoost launches Flashloan powered DeFi interface for money markets
We are excited to announce we are launching uBoost as a part of the UniLend Grant Program to foster the DeFi ecosystem.
For too long the power of financial infrastructure was limited in hands of few institutional firms or influential and wealthy individuals. Today, almost every aspect of banking, lending & trading is managed by centralized systems or operated by gatekeepers.
Decentralization of the internet with the emergence of bitcoin and blockchain opened a plethora of opportunities for a common consumer to access services & products in finance without the interference of these centralized authoritarians. And DeFi is the new industry that emerged out of this revolution.
uBoost and our mission to open DeFi
uBoost is building an interface layer over various DeFi protocols and making it a seamless experience for consumers to access DeFi services. The current accessibility of blockchain is very limited for users which are web3 developers or invested in understanding blockchain fundamentals.
The blockchain and crypto ecosystem needs to evolve to be more open for the majority of traditional consumers. uBoost efforts are placed for the development of such financial services and products.
Flashloans powered DeFi
The first product suite uBoost would be launching is the flashloans powered DEXs for market making.
Flash Loans are special uncollateralized loans that allow the borrowing of an asset, as long as the borrowed amount (and a fee) is returned in a single transaction. This is the shift in the current DeFi landscape which is built on over-collateralization of assets.
We have leveraged the power of UniLend flashloan to bring permissionless access of uncollateralized loans and uses the borrowed amount for market making on DEXs across blockchain networks like Ethereum and Polygon. UniLend’s Flash Loans, are efficient and much lower in fees and we are confident it will pave a way for millions of consumers to access DeFi.
uBoost wins Grant Program from UniLend Finance
A big shoutout to UniLend team for enrolling us in their grants program and providing the opportunity to access their resources, including mentors, community, investors, and grant prizes to develop dApps in the DeFi ecosystem.
UniLend Finance is a permission-less protocol that means anyone can list their tokens and add liquidity to the pools with support of networks like Ethereum and Polygon. This makes UniLend a truly decentralized protocol and powerful foundation for projects like uBoost to build on top of it.
Read more about UniLend’s Flash Loan on their gitbook and the possibilities that accompany them.
Read more about UniLend and their Grant Program
A road ahead for uBoost
At uBoost we are on a mission to build an interface layer to bring 100 Mn consumers to DeFi adoption. With the support of ecosystem builders like UniLend Finance and others in the community, we will soon close the gap of limited accessibility of DeFi.
Stay tuned for upcoming announcements on our partnerships and V1 product launch with access to more than 17 tokens like UFT, MATIC, WETH, USDC, MIA, ODZ, and others for market making on DEXs and soon leverage the flashloans revolution for uncollateralized borrowing of any ERC20 asset.
Also, we’re excited to get your feedback on our project, so do drop hi 👋 to us on Twitter or write to us at uboost.defi@gmail.com
