Unbound Finance Partners With Polygon To Launch The First-Ever Cross-Chain Stable Coin UND On Matic Network
Unbound Finance, creator of the UND stablecoin has partnered with leading Ethereum scaling solution Polygon (Previously Matic Network), to increase liquidity on Polygon-based AMMs, making them more capital efficient.
Unbound will also be launching the first cross-chain decentralized stablecoin UND on the Polygon network, and the Unbound Finance governance token UNB will also be tradeable on Polygon-based DEXes.
With Unbound Finance, users can collateralize their existing liquidity pool tokens on AMM based DEXes like Dfyn, PancakeSwap, Uniswap and use these LPTs to mint UND stablecoin.
Polygon has been assisting with Unbound since its testnet was launched in December 2020 with support in launching on the network and introducing to key AMM partners to enable capital efficiency.
Sandeep Nailwal, COO of Polygon said, “AMMs are here to stay and the amount of liquidity it has been able to get on DEXes along with the possibility of various tools such as yield farming or earning fee on market making for a regular user is indicative of its unmatched potential. Unbound’s dedicated development team has created something that makes all AMMs efficient and will make interesting money legos in the space further.”
Tarun Jaswani, Founder and CEO of Unbound Finance said, “We have built UND to be one of the most decentralized, cross-chain stablecoins on the market. With strong fundamentals, Polygon users will leverage the benefit of a fast, borderless stablecoin which will act as a great fiat on and off-ramp bridge. UND will also open up the benefits of DeFi through Unbound.Finance.”
The Unbound testnet on the Polygon test space can be reached from here whereas to access the Mumbai Matic faucet click here.
About Unbound
Unbound Finance is the DeFi treasury for liquidity pool tokens that unlocks liquidity from existing AMM Pools! Unbound is building the derivative layer of AMMs with the First-Ever Debt-Free Liquidity Provision System. The Unbound Protocol is liquidation-free and charges no interest on the loans given out. The Unbound Factory smart contract currently supports AMMs across multiple EVM-based public blockchains such as Uniswap, PancakeSwap, SushiSwap, Dfyn, Balancer, Mooniswap, Bancor, and Curve.fi among others.
About Polygon
Polygon (Previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. Using Polygon, one can create Optimistic Rollup chains, ZK Rollup chains, stand-alone chains, or any other kind of infrastructure required by the developer.
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SOURCE: https://unboundfinance.medium.com/unbound-finance-partners-with-polygon-to-launch-the-first-ever-cross-chain-stable-coin-und-on-matic-463f90140abc
