Unbound Finance plans to become the world’s first-ever decentralized cross-chain stablecoin and is one step closer to becoming a reality as it completes a recent funding round.
Unbound Finance, in a press release shared with Altcoin Buzz, disclosed that it has raised $5.8 million from several top crypto VCs and Angel investors. Participants in the fundraising event include top players in the crypto space like Pantera Capital, LD Capital, CMS Holdings, GenBlock Capital, Brilliance Ventures, Hashed, LedgerPrime, ZeePrime Capital, Arrington XRP Capital, Future Perfect Ventures, TRGC, Coin98 Ventures, amongst others. Such immense support from important players in the crypto space is a strong pointer to the efficacy of the Unbound Finance protocol and what it hopes to achieve.
More on the Partnership
Speaking on the fundraising event, Dan Morehead, CEO of Pantera, disclosed that Unbound is showing great potential of being a major player in the fast-growing decentralized finance (DeFi) space. Also, he added that it is with great pleasure that Pantera offers its support to Unbound as it capitalizes “[…] upon the untouched areas of the crypto industry.”
Michael Arrington, the founder TechCrunch, also shares the same view as Morehead. He said, “Unbound Finance is new primitive with the potential to unlock billions in unproductive value trapped in AMMs.”
Sandeep Nailwal of Polygon also spoke highly of what Unbound is looking to create. He disclosed that the team “[…] has created something that makes all AMMs efficient and will make interesting money legos in the space further.”
Founders of Enjin, Harmony, Kyber Network, Gnosis, Angelist, Dao-Maker, TomoChain, etc. are also interested in what Unbound is looking to achieve. Hence, their participation in the funding round.
More about Unbound Finance
The CEO and founder of Unbound, Tarun Jaswani, also threw more light on what Unbound was looking to achieve. He explained that the team was “[…] building the derivative layer to enable greater yields and capital efficiency for our users.”
Shashwat Gupta, Angel Investor, Unbound Finance and Founder & CEO of Altcoin Buzz added, “Unbound is poised to be a key project in the decentralized finance space. Being cross-chain, it is going to have an even greater impact. What Unbound is doing for AMMs will add a necessary derivative layer on it and will be a key component for any blockchain and every AMM. The layers that Unbound brings to DeFi are what make DeFi so interesting. As a lead investor from the seed round, I am very excited to be involved with the entire development journey of the project so far and looking forward to their launch of the mainnet and other products on the roadmap.”
About Unbound Finance
Unbound is a liquidity provider and token yield generation platform focused on leveraging idle liquidity in the wallets of AMM liquidity providers. Therefore, providing them with access to zero-interest loans in the Unbound native token (UND). The yield generation platform currently supports AMMs like Uniswap, Sushiswap, MooniSwap, and Balancer. Unbound also boasts of partnerships with EVM-compatible blockchains like Polygon, Binance Smart Chain (BSC), and Harmony.
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