Unbound Finance Raises $5.8M Investment Funds
Unbound Finance a DeFi treasury for liquidity pool tokens and enables unlocking from existing AMM pools have secured $5.8 million from its private funding round led by Pantera Capital and Michael Arrington’s XRP Capital.
Unbound aims to create capital efficient products that are both native and composable to the DeFi ecosystem. The liquidation-free collateralization platform allows users to borrow interest free loans against liquidity pool tokens as collateral. Through strategic partnerships, the project is building native bridges to allow cross chain transfers of its stablecoin and other synthetic assets.
“AMMs are DeFi’s Zero to One Innovation and we are building an aggregator layer to enable greater yields & capital efficiency for our users,” — Tarun Jaswani, CEO and Founder of Unbound Finance.
The funding events was led by some top investors in crypto such as Pantera Capital, Arrington XRP Capital, CMS Holdings, Hashed, LedgerPrime, LD Capital, TRGC, ArkStream Capital, ZeePrime Capital, Future Perfect Ventures, Brilliance Ventures, Woodstock, Coin98 Ventures & GenBlock Digital
“Unbound has great potential to play a lead role in the DeFi space by focusing on liquidity pool tokens. We’re excited to support the Unbound team as they build the key tools to capitalize upon this untouched part of the DeFi ecosystem” — Dan Morehead, CEO Pantera Capital.
The funding round was also also made possible by some angel investors and blockchain project founders such as Enjin, Gnosis, Kyber Network, Polygon, Harmony, Frontier, Wikihow, DFYN, Dao-Maker, TomoChain and Polkastarter amongst many others.
“We are delighted to support Team Unbound in realizing its vision of becoming the native decentralized stablecoin of the DeFi & AMM space” — Maxim Blagov CEO & Co-Founder Enjin.
Unbound is a protocol that leverages the liquidity lying idle in the wallets of AMM liquidity providers and enables interest free crypto loans in the form of its native stablecoin $UND and other synthetic assets, going live first on Ethereum Network. The funding will be used to propel the development and growth of the protocol.
Unbound intend to use the funds for the expansion of our team, audits, adoption, liquidity provision, and R&D hyper-focused towards the AMM space. The influx of capital will also allow us to fuel our new initiatives including the aggregation contracts for Uniswap V3.
ABOUT Unbound Finance
Unbound Finance is the DeFi treasury for liquidity pool tokens and enables unlocking from existing AMM pools. Unbound is building the cross-chain composite layer of AMM with ‘First-Ever-Debt-Free Liquidity Provision System‘. The protocol charges no interest and it’s liquidation free. The Unbound Factory smart contract supports AMM across multi-chain EVM networks like UniSwap, Balancer, PancakeSwap, SushiSwap, Bancor, Curve.fi, etc.
