Unbound Finance Enhances Liquidity for $UND on KyberDMM DEX

KyberDMM DEX, the latest liquidity protocol powered by Kyber Network, has brought both high capital efficiency and optimized returns to Ethereum liquidity providers and token traders. The Kyber Network community (via KyberDAO) has also been voting on promising projects on Ethereum to drive adoption and increase both the number and liquidity of key token-pair pools on KyberDMM as well as incentivize them with attractive yield through the ‘Rainmaker’ liquidity mining campaigns.

These initiatives with popular DeFi projects continue with the launch of a new ‘Rainmaker’ joint liquidity mining campaign with Unbound Finance with $1 Million worth of incentives, starting 5th November 10.30am EDT/10.30pm GMT+8!

Unbound Finance is a decentralized, cross-chain liquidity protocol that is building the next money lego by unlocking the liquidity from AMMs. The protocol is the ‘First-Ever-Debt-Free Liquidity Provision System’ that collateralizes LP Tokens to generate synthetic assets including the UND stablecoin (pegged to 1 USD) and uETH. The protocol charges no interest rates and is liquidation-free. Unbound just announced their mainnet launch.

KyberDMM DEX was chosen by Unbound Finance as it allows $UND liquidity providers to maximise the use of capital via:

• Amplified Liquidity Pools with extremely high capital efficiency; less tokens required to achieve better liquidity and rates compared to AMMs, especially for more stable pairs, so LPs can earn more with relatively less capital.
• Dynamic Fees that react to market conditions and optimize returns for LPs.
• Better Reliability & Security: Audited by ChainSecurity and insured up to $20M by Unslashed Finance.

In addition, $UND traders on KyberDMM DEX get better rates on Ethereum compared to trading on individual DEXs. This is possible via our new Dynamic Trade Routing feature which aggregates liquidity from multiple DEXs on Ethereum including our capital-efficient KyberDMM pools.

Starting Friday, 5th November at 10:30 EDT (22:30 GMT+8), liquidity providers can add any amount of liquidity to the eligible UND-KNC and UND-USDC pools on the KyberDMM on Ethereum to farm and unlock their share of the rewards over the next few months.

$KNC rewards received can be staked on KNC pools or KyberDAO for additional KNC rewards or on KrystalGO for Token Sale allocations.

ABOUT Unbound Finance
Unbound finance is a decentralized, cross-chain liquidity protocol that is building the next money lego by unlocking the liquidity from AMMs. The protocol is the ‘First-Ever-Debt-Free Liquidity Provision System’ that collateralizes LP Tokens to generate synthetic assets including UND and uETH. The protocol charges no interest rates and is liquidation-free.

ABOUT Kyber Network
Kyber Network aims to deliver a sustainable liquidity infrastructure for DeFi. As a liquidity hub, Kyber connects liquidity from various protocols and sources (e.g. KyberDMM DEX) to provide the best token rates to takers such as Dapps, aggregators, DeFi platforms, and traders.

RESOURCES
Medium