Unlloo is live on Ethereum mainnet: uncollateralized loans, backed by reputation

TL;DR. Unlloo Crowd Loans is live on Ethereum mainnet and open to everyone. A borrower asks for stablecoins with no collateral, backed by their on-chain reputation. Lenders choose who they fund and name their own rate. A smart contract holds the money and handles every step, and each loan stands alone with its own risk. The money is real and so is the risk: if a borrower does not repay, lenders lose what they lent.

What launched?

Unlloo Crowd Loans, a way to borrow and lend stablecoins on Ethereum without collateral. It runs on Ethereum mainnet, the live network where tokens have real value, and anyone with a wallet can use it at app.unlloo.com.

A crowd loan is one loan funded by many lenders. There is no shared pool. Every loan is its own small pool with its own lenders and its own risk, so one borrower's default never touches another loan. Loans in the app are in USDC, a digital dollar. The contract also allows USDT and DAI.

How does a crowd loan work?

1. The borrower posts a request. How much they need, the highest yearly rate they will pay, how long lenders have to make offers, and when they will repay.
2. Lenders make offers. Each lender reads the borrower's reputation score, then offers part or all of the amount at a rate they choose, up to the borrower's maximum. The smart contract holds each offer.
3. The borrower picks offers. When offers close, the borrower has seven days to accept the ones they want, as long as these add up to at least 80% of the request. The smart contract pays out the loan, and lenders withdraw any offer that was not accepted.
4. The borrower repays. Any amount, any time, with no penalty for repaying early. Interest counts only for the time the money was out. The smart contract splits every repayment between all the lenders, each by their share of the loan, and lenders collect their share from the contract.

The only fee is 10% of the interest a borrower pays, never of the amount borrowed. How Unlloo works today has the full detail, and what a loan costs on Ethereum mainnet covers the network fees.

What backs a loan when there is no collateral?

The borrower's reputation, and the people who know them. Every wallet gets a score from 0 to 1000, and lenders see it next to each request with a full breakdown of where it comes from. 60% comes from independent services: Ethos Network, Human Passport, Webacy, growthepie and Zeru zPass. The other 40% is Unlloo's own reading of the wallet's history on Ethereum, Arbitrum, Base and Optimism, taken from Blockscout.

A score is a signal, not a promise. That is why borrowers do best when they bring their own circle. Friends, clients and colleagues who already know them make the first offers, and strangers follow. The result of every loan, repaid on time, repaid late or not repaid, stays public on the blockchain for the next lender to see. Crowdloans: a new DeFi primitive explains the idea behind it.

Why does a smart contract hold the money?

So that no company sits in the middle. The contract holds the lenders' offers, pays out the loan, takes the repayments and splits them between the lenders. The Unlloo team never holds anyone's funds.

The contract's source code is published and verified on Etherscan, Sourcify and Blockscout, so anyone can check that the code that runs is the code that was published. Verified does not mean free of bugs. The contract also has admin powers. One admin wallet can pause new loans, new offers and acceptances, but never repayments, claims or refunds, and it can upgrade the contract only after a public 3-day wait. The security page lists every power and links to the verified source.

How do you follow a loan?

You do not have to keep checking the app. Borrowers and lenders can turn on updates by email or Telegram. Borrowers hear when offers arrive, when it is time to choose and before the loan is due. Lenders hear when an offer is accepted, when money is ready to withdraw and when repayments come in.

What are the risks?

Lending on Unlloo can lose money. Loans have no collateral, so if a borrower does not repay, nothing is seized and lenders get back only what was repaid. There is no insurance and no guarantee.

• Offers lock for a while. An offer cannot be withdrawn while a request is still open for offers, or during the selection window once offers reach 80% of the request.
• The protocol is new. It has a short record, and a smart contract can have bugs that nobody has found yet.
• The admin wallet and the stablecoin are risks of their own. One wallet holds the admin powers, and a stablecoin's issuer can freeze it at any address.

Read the risks page before you lend, and check the borrower's wallet first. You decide who you lend to, so that check is yours to make.

Who is it for?

Borrowers whose wallet has some history, and the people who know them. Freelancers paid in stablecoins, small online businesses, friends who want written terms, and communities that lend to their own members all fit. Who uses under-collateralized crypto loans goes through each group.

On the other side, it is for lenders who want to choose exactly who they fund and at what rate, and not hand that choice to a pool. It is not a fit for a brand-new wallet, or for money a lender cannot afford to lose.

Who helped build it?

Unlloo was built with support and data from ETHGlobal, Agartha, Human Passport, Webacy, Blockscout, growthepie, Zeru zPass, Octav and Ethos Network. Thank you.

How do you start?

Open the Unlloo app and connect a wallet. If you want to borrow, check your reputation score, then post a small first request and send the link to people who know you. How to borrow on Unlloo is the short guide. If you want to lend, browse the open requests, read each borrower's score, and start with an amount you can afford to lose.

Sources

1. Unlloo's CrowdLoanManager contract on Etherscan, read on 12 November 2026. The 80% acceptance rule, the seven-day selection window, the 10% fee on interest and the allowed stablecoins.
2. Unlloo, "Security and admin powers", updated 12 November 2026. The admin powers, what a pause blocks, the 3-day upgrade wait and the links to the verified source.
3. Unlloo, "Risks". What can go wrong for lenders and borrowers.