How To Use UniLend: A Step By Step Guide

UniLend is a protocol that helps any asset on UniLend’s supported blockchains (Ethereum, BSC, Polygon) to access comprehensive permissionless DeFi. UniLend provides spot trading services and money markets with lending and borrowing services through smart contracts. 

As Coin98 Wallet has been integrated to be one of the official Wallets of the UniLend platform. In this article, Coin98 will guide you through how to use UniLend, as well as take advantage of the opportunities to earn money from this platform, via the Coin98 Extension Wallet and Coin98 Mobile Wallet.

Quick preparation before using UniLend

Download and install Coin98 Wallet

Mobile wallet

Now available on Coin98 Mobile Wallet for both iOS and Android users.

Extension Wallet

The Coin98 Extension Wallet is available on both Google Chrome and Firefox. The detailed installation instructions can be found below:

Create a Multi-chain Wallet

UniLend integrated multi leading blockchains including Ethereum, Binance Smart Chain and Polygon. So you need a wallet compatible with these ecosystems to skin-in-the-game.

Users can still use single-chain wallets such as ETH, BSC and Polygon but I recommend using Multi-chain wallets for easy interaction and management. 

After you have downloaded or updated Coin98 Wallet, you can follow the instructions below to create a multi-chain wallet or import an existing wallet on other wallet applications into Coin98 Wallet.

Make sure you have an amount of ETH, BNB or MATIC to pay for the network fee.

How to use UniLend on Coin98 Mobile Wallet 

Access UniLend on dApp Browser

Step 1: Open Coin98 Mobile Wallet, tap Browser.

Step 2: Enter UniLend in the search bar, tap the UniLend logo in the results.

Connect wallet to UniLend on dApp Browser

Step 1: In the main interface, tap Connect Wallet.

Step 2: Select Coin98 Wallet from the list.

If you want to change your wallet or your chain, tap on the Wallet Name in the lower right corner of the screen → Select the appropriate wallet/network.

Lend token on UniLend

Step 1: To start making a profit, tap Select Token to choose the asset and the amount that you want to deposit.

Besides, UniLend also supports various synthetic real-world assets and derivatives. By clicking Manage, you can list any asset on UniLend’s supported blockchains (currently Ethereum, BSC and Polygon). 

On the List section, tap ON to enable the listing tokens from Coingecko.

On the Token section, you can add your own token by entering the Token Contract Address on supported Blockchain. Tokens can be searched at:

• Ethereum: etherscan.io
• BSC: bscscan.com
• Polygon: polygonscan.com

Step 4: Once you have selected your token, UniLend will display the current stats. You can check your current APY, updated in real-time. 

Then, tap Create Pool and confirm the transaction via Coin98 Wallet.

Redeem token on UniLend

To redeem your lending tokens, tap the Redeem section on the main interface to earn rewards.

Select the number of tokens you want to redeem and tap Create Pool.

How to use UniLend on Coin98 Extension Wallet

Lend token on UniLend

Users can visit this link https://app.unilend.finance/lend to start lending from UniLend with an attractive interest rate. 

Step 1: Click Connect Wallet.

Step 2: Select Coin98 from the wallet list → Click Connect.

Step 3: To start making a profit, click Select Token to choose the asset and the amount that you want to deposit.

UniLend will also support various synthetic real-world assets and derivatives. By clicking Manage, you can list any asset on UniLend’s supported blockchains (currently Ethereum, BSC and Polygon).

On the List section, click ON to enable the listing tokens from Coingecko.

On the Token section, you can add your own token by entering the Token Contract Address on supported Blockchain. Tokens can be searched at etherscan, bscscan and polygonscan.

Step 4: Once you have selected your token, UniLend will display the current stats. You can check your current APY, updated in real-time. 

Then, click Approve and confirm the transaction via Coin98 Wallet.

Redeem token on UniLend

To redeem your lending tokens, you can visit https://app.unilend.finance/redeem to earn rewards.

Select the number of tokens you want to redeem and click Redeem.

More features from UniLend

UniLend provides a user-friendly interface to minimize user actions. Besides the Lend and Redeem section, you can also participate in Reward and Airdrop. 

• “Reward” allows you to add rewards for all liquidity providers.
• “Airdrop” allows you to instantly airdrop tokens to all the pool participants.

The tokens added will be removed from your wallet unless you want to reward/airdrop tokens to stakers. Since the transactions are irreversible, there is no way to bring your fund back.

4 reasons to use UniLend directly on Coin98 Wallet

For both the newbies and the DeFi experts, using UniLend on the Coin98 Wallet DApp Browser brings undeniable benefits.

Simple, easy to access

The DApp Browser is integrated into the Coin98 Mobile Wallet for both iOS and Android users. Just by clicking Browser on the home screen, you'll be seamlessly taken to the marvelous DApp world to freely explore the best of DeFi.

You can also swap C98 tokens on the Coin98 Mobile Wallet or Coin98 Exchange easily and conveniently.

Minimized risk of fraud

Coin98 Wallet constantly strives to find the top-tier games while prioritizing the safety of users’ assets by integrating the exact address of the game’s platform right on the app. Therefore, you can avoid the case of searching and accessing fake game platforms, exposing Private Keys/Passphrases, or swapping scam tokens.

The Cross-Chain Bridge

Considered one of the most innovative features of Coin98 Wallet, the Cross-Chain Bridge allows users to interact with OpenSwap easily and convert ERC20, TRC20, SPL tokens to BEP20 tokens directly using the Mobile App without using third-party applications.

Ability to experience numerous DApps

If you are extremely excited about lending tokens on UniLend after reading this tutorial. Why don't you continue the great experience of other multi-chain DApps on the Coin98 Mobile Wallet DApp Browser? 

Summary

Hopefully, this article has guided you well to experience UniLend directly on Coin98 Wallet. Take advantage of this opportunity and get yourself the best profit.

​​If you have any questions or problems, don’t hesitate to leave a comment below. We’re always here to be your assistance.

I'll see you in the following articles!