INTRODUCTION

About UnityCore Protocol

UnityCore Protocol is a decentralized protocol built on Core chain. it is a protocol built on love to unify the entire core ecosystem. it is a protocol where core users can participate as lenders and borrowers. we aim to offer a transparent, and open-source financial service environment. UNITYCORE token $UCORE is intended to be held, but it benefits investors during periods of anticipated cryptocurrency volatility.

THE TRUE DEFINATION OF LENDING AND BORROWING PROTOCOAL

Lending, or decentralized finance lending, is quite similar to the traditional lending service offered by the banks, except that it is offered by the P2P decentralized applications (DApps). The DeFi lending platforms help people borrow and lend funds which allow the crypto holders to earn a substantial income. The rise of lending protocol has strengthened the prospects of blockchain implementation in the development of financial apps. Decentralized lending finance, has recently gained prominent attention as it has garnered massive amounts of capital for various businesses.

HOW LENDING AND BORROWING WORKS

Lending, or decentralized finance lending, is quite similar to the traditional lending service offered by the banks, except that it is offered by the P2P decentralized applications (DApps). The DeFi lending platforms help people borrow and lend funds which allow the crypto holders to earn a substantial income.The Lending process is simple. It focuses on offering crypto loans with a trustless approach. This means that the users can easily lock their crypto assets on the DeFi lending platform without worrying about intermediaries. The borrowers can directly opt for loans from the decentralized platform with the help of P2P lending. Lending enables individuals to become a lender just like a bank. An individual can easily lend their assets to others and accrue interest on that loan. Just like the loan offices in traditional banks, Decentralize lending mainly relies on the lending pools where the users can add their assets to the lending pool and ensure quick distribution among borrowers through smart contracts.\

HE BENEFITS OF LENDING AND BORROWING PROTOCOL

DeFi lending mainly works by engaging the participants to contribute funds by depositing them at interest. These interest rates are more lucrative than the rates offered by traditional banks. Other than that, there are multiple benefits of DeFi lending as compared to the traditional lending system. These include:

1). SPEED

Decentralized financial protocols eliminate the slow, unethical, and expensive bureaucracy of the centralized system. DeFi loans are processed quickly, and the lent amount is available instantly once the loan is approved.

2). LENDING ANALYTICAL

comprehensive digital lending procedure is primarily beneficial for evaluating and monitoring the market for borrowing and lending. Therefore, another key advantage of the DeFi loan procedure is lending analytics.The loan analytics may be used to maximize available finances. It also enables different DeFi lending platforms to acquire data on loan sources that may be used to enhance the loan’s performance.

3). ACCOUNTABILITY

Accountability is one of the most significant advantages of DeFi financing. Blockchain is a public ledger that may provide on-demand access to records of all DeFi loans and applicable laws and regulations.When a DeFi loan is approved, the public distributed ledger primarily documents all financial activities.

4). PERMISSIONLESS

Decentralized lending offers permissionless and open access to anyone with a DeFi crypto loan wallet. One can easily access the DeFi applications built on blockchain networks regardless of the presence of their fund or geographical location.

5). TRANSPARENCY

Blockchain can be easily verified by any user present in the network. DeFi lending ensures transparency as the decentralized nature of the blockchain mainly ensures that all the transactions are genuine.​