Announcement | Unbound Finance -Mainnet Launch on Ethereum Confirmed
We are overjoyed to reveal that Unbound Finance’s long-awaited sandbox mainnet will be launched on the Ethereum blockchain by the middle of September, as anticipated in our roadmap. The official launch time and date will be soon announced on our social media platforms including Twitter and Telegram.
Founded by blockchain enthusiast Tarun Jaswani, Unbound has been live on testnet since December 2020. We launched our Zeta testnet in April 2021 on Ethereum’s Kovan test chain following which, we recently released our testnets on BSC, Polygon and Harmony platforms. Our community has shown immense support in our journey so far with over 5000 faucet users actively participating and growing. Additionally, we have also experienced substantial growth in our community members over social media platforms with approximately 18.2K crypto enthusiasts now following us on Twitter and nearly 5K on Telegram. As a means to directly interact with the community and to help the users understand Unbound better, we are diligently conducting Telegram AMA sessions, resolving all the queries related to the protocol.
Before opening up the platform on mainnet, the protocol has been through a series of audits to make it secure and accessible for our users. It has undergone four major audits with rigorous authentication and validation procedures conducted by some of the best industry auditors. This includes Peter Kacherginsky who helped us in identifying the possible threat of flash loan attack in our platform’s infrastructure. The second audit was completed by Securing who reproduced the flash loan attack as pointed during the first audit. The audit consequently led to the use of a more secure combination of price oracle. The third and the fourth audits have been conducted by Lucash Dev, one of the highest paid bug bounty hunters at Hackerone. Post the third audit the contracts are now a lot more scalable and the structure has been enabled with yield vaults to claim liquidity rewards.
The launch of sandbox mainnet on the Ethereum network will enable the liquidity providers on Ethereum based AMMs to leverage their LPT’s to achieve higher returns on their DeFi investments. They can grow their earnings manyfold by collateralizing their LPT’s to initially mint Unbound’s first flagship product — UND stablecoin at zero interest and without the risk of collateral liquidation. With approximately $40B locked in DEXs at the time of writing, Unbound intends to make DeFi more capital efficient by unlocking this untapped liquidity and providing newer and better earning opportunities to the DeFi users.
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