UNION, the complete technology platform for the DeFi ecosystem that combines liquid secondary and bundled protection with a multi-token model, has announced its collaboration with Waves protocol. With this collaboration, all future lending platforms that use Waves’ USDN (Neutrino USD) can avail of UNION’s collateral protection.
The rapid escalation of USDN requires top-notch risk management tools and asset protection products. Therefore, Waves’ complete DeFi solution having a broader market reach stands firm in this case. It can provide a perfect platform for building a complete DeFi space for UNION, and hence the partnership is looked forward to by both the platforms.
In this collaboration, there will be a string of programs for liquidity provision comprising UNN/USDN on Waves and UNN/USDN liquidity pool on Uniswap and assistance for the UNN/USDN on the Geyser liquidity pool. The actual price will be set when the pairs would be created, depending on the usual market rate.
The combined collateral protection product will also incorporate discretionary features for deposits of collateral into Waves Lending, the new product on the Waves protocol. Accordingly, users who wish to pledge collateral into Waves Lending will be automatically directed to choose Over Collateralization protection. If, during liquidation, the OC ratio goes beneath a certain limit, the UNN protection product will fill the remaining portion of the OC protected while the borrower will pay the remaining difference.
Apart from this, UNION will also be collaborating with Waves protocol for the provision of a smart contract protection tool for Gravity in the 2021 Q1. The program will focus on providing further security by eliminating human errors.
Talking about this, Strategic Advisor for the Waves Association, Sten Laureyssens remarked,
John Liu, CPO of UNION praised Waves and stated,
