The Dvision Network will Introduce UniLend Centre and UFT!
The Dvision Network is a new VR content ecosystem that utilizes blockchain technology. It aspires to provide the best user experience by utilizing the advantageous features of Blockchain and VR technologies, and by creating an unprecedented and inclusive virtual ecosystem for businesses and designers.
Hello Dvision Community,
Today, we are officially announcing that we have decided to join forces with the permissionless DeFi protocol, UniLend Finance in order to further explore the capabilities of blockchain technology and to receive the benefits that come with cooperation. Under the business agreement signed with UniLend, the Dvision Network will introduce UniLend’s native token UFT to its payment system. It will also provide a virtual space to establish a “UniLend Centre” and will cooperate on many other technological aspects. The Dvision Network is excited to introduce its latest strategic partner to the community, the world’s revolutionary DeFi project, UniLend.
First and foremost, the Dvision Network has noticed a huge hole in the VR technology market. As we have previously mentioned, large conferences and exhibitions have been put on hold due to concerns over the rapid spread of COVID-19. The Dvision Network saw an opportunity to host those large blockchain-related events, such as Deconomy, Consensus, or UDC completely virtually in their VR metaverse. In fact, the Dvision Network has decided to host a blockchain conference next year upon the completion and release of its product. During those events, UniLend will be provided with unique marketing tools, such as booth & banner ads, and given maximum visibility during the event. Last but not least, UniLend’s CEO Chandresh Aharwar will be presented as one of the main guests of the Dvision Network, joining a panel discussion session to deliver a speech about the ongoing trend combining NFTs & DeFi.
In fact, the established partnership between the Dvision Network & UniLend plans to focus on technical and business development, while striving to further develop blockchain technology on both platforms. Particularly, as noted previously, the Dvision Network is considering the adoption of coins or tokens from some of its partnering companies in both the VR metaverse and the overall payment system of the Dvision Network. Thus, we will consider the adoption of UniLend (UFT) tokens. In short, UniLend users will be able to trade on all platforms of the Dvision Network with their UFT coins and purchase NFT items, land, space, etc. The adoption of the token will only be carried out once the UniLend token is listed, gains a proper amount of user capacity, and is determined to be stable. On top of that, UniLend will be provided with a virtual space in order to establish a “UniLend Center”. To be precise, UniLend will be able to interact with its community through the gamified social VR experience in Dvision Network’s metaverse. This will contribute to the business expansion of UniLend, which will have an unprecedented opportunity to mingle with its community in a totally new framework.
Potential NFT & DeFi Crossover
As you may be well aware, Decentralized Finance has been gaining a lot of traction lately. However, while the crypto community was laser-focused on the DeFi trend, Non-Fungible Tokens (NFTs) slowly crept onto the scene. Suddenly, all anyone could talk about was NFTs! This led to discussions about the intersection of these two ideas. Although there are still a bunch of technical and conceptual aspects to be explored in the area of NFT & DeFi convergence, the Dvision Network will be among the first pioneers (together with UniLend) to explore the potential of the possible union of NFT and DeFi. These days, many people argue that NFTs will unlock even more potential in DeFi markets and further boost decentralized finance. At the current stage in DeFi, the vast majority of DeFi lending protocols are collateralized. One of the most interesting ideas that has recently appeared is to use NFTs as collateral. In a nutshell, this means that you would be able to use an NFT representing a piece of art, digital land, or even tokenized real estate as collateral and borrow money against it. However, plenty of scenario analyses and experiments should be conducted in order to weigh the pros and cons of this mechanism.
In fact, unlike BTC or ETC, an NFT is a non-alterable token that has unique characteristics which make it impossible to be replaced. Therefore, NFTs create digital scarcity, ownership, and uniqueness in the crypto space (for more information, you can refer to our previously uploaded post about NFTs). However, NFT items are notorious for their illiquidity, which means that their market price will always be hard to determine. To address this problem, the Dvision Network will put all its efforts towards securing secondary marketplaces in order to ensure the tradability of NFT items and to provide them with liquidity backup. In fact, in order to avoid the reception of illiquid or non-valuable assets, UniLend will run its own rigorous scanning process before accepting any NFT item onto its platform as viable collateral. Thus, the first step in our cooperation will be to determine the right model for NFT collateralized loans.
UniLend is a permissionless, decentralized DeFi protocol that combines spot trading services and money markets with lending and borrowing services through smart contracts. In money markets, the interest rates and collateralization ratio are based on supply, demand, and other market forces; borrowing limits are decided by liquidity in the trading pairs. The integrated smart contract for both features of the protocol allows both trading and DeFi capabilities to co-exist within the same protocol. This solves the liquidity and liquidation issues that have been limiting the growth of DeFi adoption in the broader market.