Unilend Token Burn; Flash Loans fees
UniLend is a permission-less decentralized ERC-20 protocol that combines spot trading services and money markets with lending and services through smart contracts where we provide Permission-less listing of assets, lending and borrowing where the individual is reward at an interest rate or the individual is required to pay interest rate respectively,Spot trading of corresponding pairs on UniLend platform, providing liquidity where individuals will be rewarded, Governance and Native utility tokens.
UniLend Finance core team is making decisions on development and protocol features initially. Once the platform is launched, governance will be passed to the community and our developers will implement changes to the protocol.
UFT token is used to facilitate governance of the UniLend protocol. A number of factors relating to the proper functioning of the protocol, such as the collateralization ratio for specific assets, addition of base pair etc. will be decided by $UFT token holders through proposals in order to ensure adjustments to the protocol are made with a majority consensus.
The UniLend Finance Token Burn $UFT
UniLend Finance token burn mechanism is directly linked to our flash loans fee structure. The UniLend flash loan fee of 0.05% will be divided as follows:
30% of Protocol flash loans fees will be used to acquire & burn $UFT upon our mainnet launch on March 30th!
- 70% will be distributed to $UFT stakers based on the percentage they supply to the pool.
$1,742,000 x 70% = $1,219,400/year distributed to $UFT stakers
- 30% of Protocol flash loans fees will be used for buying $UFT on the market, which will then be burned
$1,742,000 x 30% = $522,600/year for market buying UFT and burning
- The 30% that will be burned will be permanently removed from circulation in order to reduce the total supply.