Unbound Finance to Launch on Arbitrum One Mainnet in March 2023
Mar 9, 2023
New Delhi, Delhi Mar 8, 2023 (Issuewire.com) - Unbound Finance has announced the upcoming release of Unbound V2 on the Arbitrum One mainnet in March. This marks a major achievement in the protocol's continued mission to enhance yield possibilities within the DeFi landscape.
In October, the Unbound Finance team accomplished a significant feat by successfully rolling out the testnet of their latest iteration on the Goerli network. In addition, the platform has undergone two comprehensive security audits by industry leaders such as Riley Holterhaus and Watchpug. Building on this initial success, Unbound Finance is now gearing up to launch on the mainnet, as previously mentioned.
What is Unbound?
Built cross-chain, Unbound is a decentralized, non-custodial stablecoin lending platform designed to enable users to borrow over-collateralized stablecoin loans by pledging their interest-bearing tokens (ib tokens) at 0% interest.
Unbound V1 facilitated users to borrow UND, Unbound's USD-pegged stablecoin, by collateralizing stable pair liquidity pool tokens (LPTs) at zero percent interest and no risk of collateral liquidation. With the upcoming release of Unbound V2, the team is broadening its scope and enabling support for a wider range of liquidity types on decentralized exchanges.
Expansion of Collateral support
Building on the capabilities of its predecessor, Unbound V2 will introduce support for ERC-20 tokenizations of concentrated liquidity positions of Uniswap V3, like DEXs, for the first time. Thus, users can now obtain stablecoin loans by depositing these positions and availing of more leverage opportunities.
In addition, the protocol will also allow users to collateralize liquidity pool tokens (LPTs) of volatile assets like WETH-DAI to borrow UND.
Benefits of adopting Unbound
Unbound offers a multitude of benefits and advantages to its users, such as interest-free and perpetual borrowing options, allowing users to unlock their underlying collateral at any time by paying back the borrowed amount.
Moreover, Unbound's over-collateralized loans, along with its advanced price stability measures like liquidation and redemption, work together to safeguard users' investments against market fluctuations and maintain the stability of UND prices.
As a leading innovator in the DeFi industry, Unbound Finance resolutes to providing advanced solutions that unlock value for users. The launch of Unbound V2 represents another significant milestone in this endeavour.
Website | | Unbound V2 Whitepaper | V2 Testnet | Twitter | Telegram | Medium | Lens |Telegram Announcement Channel
About Offchain Labs
Arbitrum One is a leading Ethereum Layer-2 scaling solution developed by Offchain Labs. An Optimistic Rollup, Arbitrum One provides ultra-fast, low-cost transactions with security derived from Ethereum. Launched in August 2021, the Arbitrum One mainnet beta is EVM-compatible to the bytecode level and has 50%+ TVL in the L2 segment. 400+ DeFi and NFT projects are live in the ecosystem to date. In August 2022, Arbitrum One upgraded to the Nitro tech stack, enabling fraud proofs over the core engine of Geth compiled to WASM.
Source :Unbound Finance
This article was originally published by IssueWire. Read the original article here.
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