Unit Protocol
What is Unit Protocol?

What is Unit Protocol?

Unit Protocol is a decentralised protocol where you can use a huge selection of tokens as collateral for borrowing $USDP stablecoin

What can I use Unit Protocol for?

Like a lot of people, you probably have a portfolio of different tokens.
Popular tokens are easy to sell on exchanges, so it's easy to use them to get hold of some instant liquidity. Other tokens can be difficult to trade quickly, even though they might hold significant value. Right now, there's no way to borrow stablecoin using these kinds of tokens.
And that's where Unit Protocol comes in.
With Unit Protocol, you can use your tokens as collateral to borrow $USDP.
When you borrow $USDP, you can choose the level of risk on your loan. The higher the risk, the more you can borrow.
Choose your level of risk carefully, because if the value of your tokens falls below a certain point, your position will be liquidated and you'll lose a percentage of the tokens you used to take out the loan.
Last modified 14d ago