What is Unicred (UCR)?
Unicred is a information science-based mostly lending platform.
The highlights of Unicred are:
- Better curiosity charges and increased LTV
- Powered by on-chain information
How does Unicred operate?
Send income
The protocol is implemented on Ethereum to permit customers to send and borrow ERC20 cryptocurrency. The deposit curiosity price is a perform of market place provide and demand along with the threat linked with the user’s portfolio as established by the project’s curiosity price model. The terms of the transaction are established by the interaction protocol and have no counterparty.
Pool storage
A pool is made on the sensible contract that enables you to execute the user’s deposit transaction and the loan transaction of other people devoid of the will need for the events to interact with every other as in a standard p2p procedure. In this way, the borrower is not constrained by the dimension of the user’s money and can pick out the acceptable sum to borrow. The prime price accrues as a perform of economic stress and is paid at the time of withdrawal. Inactive cryptocurrency deposits over the protocol permit these holders to earn passive revenue that was not probable prior to DeFi.
Depot square
The consumer can withdraw his deposit at any time and the deposited sum + the accrued curiosity will be straight away credited to his wallet by the protocol devoid of any situations.
Loan
Assuming an underlying asset is deposited in a Unicred contract, the protocol enables customers to seamlessly borrow cryptocurrencies based mostly on the underlying asset devoid of possessing to negotiate the terms of the loan with just a counterparty, interacting with the protocol. The curiosity price is yet again established by market place forces and the user’s wallet threat score will accrue until eventually payment is created. Users can return the borrowed cryptocurrency, get it elsewhere for the use they see match.
Square on loan
The consumer will have to repay all or element of the borrowed sum, which will involve the accrued curiosity so that he can withdraw element or all of his deposit. Users will not be ready to deduct curiosity accrued from loan and lending transactions and will have to method it individually.
Liquidation
If the worth of the “borrowed” transaction falls beneath the LTV, the transaction will be liquidated and the consumer will no longer very own the deposit he created and will not have to repay the borrowed sum. Deposit and loan operations are now standard. However, there is a two.five% liquidation charge to incentivize a group of liquidators to join promptly and retain the sanctity of the publicity that the protocol is addressing. Liquidation is also a protocol occasion which does not involve any region of ​​negotiation with any counterparty. In situation the consumer perceives the liquidation threat, he can repay element of the borrowed sum to cut down his LTV and prevent the liquidation occasion.
Blockchain style
Each ERC-twenty token will have its very own contract with the proper specs. Each deposit on the contract generates a uToken and the token pair deposited in uToken will develop in excess of time until eventually termination to match the element of curiosity.
List of tokens
Projects can produce their very own uTokens for their tokens on the platform and use the curiosity logic and LTV to incentivize holders or appeal to new ones. The listed tasks need to have a selling price feed from an oracle and common volume to prevent substantial volatility.
Administration
Unicred will very own the original contracts and will gradually migrate them to Unicred DAO as the platform stabilizes.
The token governance abilities are as follows:
- New token record
- Change the formula for calculating the curiosity price and LTV
- oracle determination / selling price feed
Roadmap
Q1 2022
- V1 model on Binance Smart Chain
- TGE yield token
Q2 2022
- Regression algorithm to determine the threat
- V2 model on Binance Smart Chain
- Version V1 on Polygon Network
Q3 2022
- V2 model on polygonal network with regression algorithm
- V1 model on Avalanche, Algorand and Ethereum
Q4 2022
- Version V2 is implemented on all protocols
- Artificial intelligence and machine finding out versions for the computational threat check network
- Unicred DAO Foundation
Q1 2023
- NFT-based mostly loan and cross-lending check network
- NFT-based mostly decentralized loan check network
Q2 2023
- NFT-based mostly multi-blockchain loan mainnet
- NFT-based mostly decentralized loan mainnet
summary
Unicred is a lending platform that functions on numerous chains this kind of as Binance Smart Chain, Ethereum, Avalanche, Polygon …
