UniLend, a popular altcoin money market platform, is set to launch on the Polygon ZkEvm Testnet on March 20, according to an announcement made by the UniLend team on Twitter. The implementation of ZkEvm is expected to provide increased security with lower fees and faster transaction times compared to the UniLend version on Ethereum.
Polygon ZkEvm is a leading implementation of Zero Knowledge proofs for the Ethereum Virtual Machine, developed by Polygon Technologies. Currently in the testnet phase, the beta mainnet phase is scheduled for March 27.
By deploying UniLend Money Market platform on Polygon ZkEvm, UniLend is positioning itself for future-readiness. This move has been welcomed by the cryptocurrency community, and has generated significant interest from investors and traders alike.
In response to this development, Binance, the world’s leading cryptocurrency exchange, has announced the addition of the UFT/USDT trading pair, set to go live on March 17. Currently, UFT is tradable against BUSD and ETH. The introduction of the USDT trading pair is expected to bring in more liquidity to UFT.
Following the news, UFT price is up by 7.3% in the past 24-hours and is trading at $0.452.
UniLend’s expansion onto the Polygon ZkEvm platform is a significant step forward for the company, as it will enable it to provide better services to its customers, while also demonstrating its commitment to innovation and growth in the cryptocurrency space. With this new development, UniLend is poised to take advantage of the growing demand for ZKEvm based DeFi solutions, and establish itself as a leader in the industry.
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