Unbound is a new decentralized protocol that is targeted towards improving the efficiency of the DeFi ecospace. The crypto fintech has been in development for nearly a year and a half.
We came live with our first testnet in December 2020 on the Kovan test chain, followed by the Zeta testnet launch in April 2021. Recently we have also launched our testnets on BSC, Polygon, Harmony and are now heading towards our sandbox mainnet on Ethereum. Our community has shown immense support in our journey so far with over 5000 faucet users actively participating and growing.
Our communities on Telegram and Twitter have grown over time. We now have over 24k followers on Twitter and 10k members on Telegram.
One of the basic yet most important question asked by our community member on Telegram was:
Q: Can you explain Unbound Finance as though I was a 12 year old?
Ans: When you trade on a decentralized exchange, it is facilitated by some liquidity provided in the back. People who provide this liquidity earn transaction fees from the trading that happens on the exchange. This liquidity is locked with the DEX which we aim to ‘Unbound’ by accepting as collateral and giving out stablecoin loans which you can further use to trade or create further liquidity while you continue to accrue fees earned from liquidity provisioning to the DEX.
Our Twitter community is also very excited about our project. The same can be gauged from their comments below:
“Unbound is going to be the gem of the year!”
“Unbound is a wonderful and promising project. It is being implemented professionally and has a clear development plan. Without a doubt, this is one of the best crypto projects.”
We have already expanded our reach and created separate native language communities in some of the countries mentioned below on their most widely used social media platforms.
We further seek to explore and establish communities in Japan, Russia, Malaysia, Thailand and many more. If you would like to help us grow and be a part of our ambassador program, please feel free to reach out to us at firstname.lastname@example.org.
It is rightly said by Clifton Taulbert,
“Taking the time to build community,
to get to know your people
will have long-lasting benefits”
At Unbound, we believe that our community is our pillar of strength. We also understand that community building is a gradual and continuous process. Having said so, we are leaving no stone unturned to expand and grow our community.
As a part of our community-building program, we have conducted multiple telegram AMA sessions with the following communities in the DeFi ecosystem.
- OIG Group
- Gain Associates
- BSC daily
- Harmony community
- Polygon community
- Vietnamese community TAG Ventures
- Uniswap China community
- Red Hat community from China
- Crypto Royals
On the 23rd of August, we conducted our first AMA with the OIG Group.
As a token of appreciation for active participation, we rewarded a community member with $200 USDT for coming up with the most intriguing question which was as follows.
Q: Many big chains & projects invested and supported Unbound — Why do you think these foundations are keen to support you?
Our CMO, Pratik Oswal took the lead to answer the query -“ We believe that our vision of coming up with a decentralized stablecoin native to the AMM space and no liquidation approach was something that appealed to the OGs of the space. The reason why we have so many chains and founders of various top projects invested with us is that Unbound becomes a medium to move liquidity from one AMM to another without physically moving the liquidity. This way, we are striving to become a pivot to make the whole DeFi space more capital efficient by creating money legos!’’
Following the AMA with the OIG Group, the next ‘Ask Me Anything’ session was conducted with the Gain Associates network. We received an overwhelming response from the community. The most engaging questions from this session were:
Q.What is the token use case and how does it capture the value of the ecosystem you’re building?
Ans: $UND is our first synthetic asset which is a decentralized cross-chain stable coin. We will be having our next synthetic asset as $uETH which will be a synthetic asset minted by locking LPTs which have ETH on one side.
UNB will be the governance token for Unbound. Holders of UNB will be active members of the DAO and will be able to vote on all protocol changes, whitelist pools for UND minting and set Loan to Value. As seen on multiple governance tokens like UNI, SUSHI, BAL, CRV, QUICK, etc. the higher the TVL gets locked in our system, the higher will the price of UNB be.
We will be launching UNB pools with all our partners and users adding liquidity to UNB pools will be rewarded.
On the 4th of September, our founder and CEO, Tarun Jaswani along with CMO, Pratik Oswal, shared their valuable time answering the queries of the BSC Daily community. The top question from the session was-
Q: When and where will the token launch?
Ans: We have several IDO platforms like Polkastarter, DAO Maker, KSM Starter, Trustpad invested with us. We also have several centralized exchanges invested with us. We are actively in conversation with some top-tier centralized exchanges for an IEO and as soon as we finalize our launchpad platform we will announce the details.
On September 8th, 2021, we interacted with the highly inquisitive Harmony community of 28k members.
Some of the questions that caught our attention during this session were:
Q. Since unbound is liquidation-free collateralization, could you please explain more about this, and what would happen if those collaterals go down in value?
Ans: “That’s the beauty of liquidity pool tokens. Nearly half of the asset pairs that form the LPT are stablecoins. This gives us an edge over other platforms which are collateralizing a single crypto asset. At 20% Loan to Value, the price of the token has to drop by over 97.5% for us to be under collateralized and even in that extreme case where the token price falls below 97.5%, we will have our SAFU funds kicked in to take care of UND.
For stablecoin LPTs, we have 80% Loan to Value ratio. USDT or USDC have to correct by 36% below USD for us to be under collateralized and we all know that we have never seen that extreme event.”
You can read more about our no liquidation and simulators here :
Q. What’s the end goal for Unbound? What would they like to achieve that they feel the market is being underserved on?
Ans: With Dai being 80% backed by USDC, Unbound intends to create a native stablecoin of the AMM space. With features like no liquidation, upfront minting etc, the end goal will be to have a truly decentralized stablecoin that the crypto community can transact and HODL.
Some of the participants from the Harmony community had a chance to win customized t-shirts and $150 for their questions.
We also had the opportunity to get into direct communication with the Polygon community and Crypto Royals group. In each of these AMAs, we were welcomed by an overly enthusiastic and supporting audience who were keen to know more about our project.
Well! Unbound hasn’t stopped with these. As a part of our efforts to build our community on a global scale, we conducted AMAs with
UNISWAP Chinese community,
Red Hat China community,
Vietnamese community TAG Ventures
A recap of the most common questions of all AMAs can be viewed here:
Q: What are the most distinguishable features of Unbound Finance?
Ans: Unbound Finance is a decentralized, non-custodial platform that is building a derivative layer over the existing AMMs and aggregates these AMMs intending to increase the overall capital efficiency of the Defi space. Liquidity providers can compound their earnings by leveraging their LP tokens to mint UND (decentralized, cross-chain, stablecoin soft pegged to the US dollar) and uETH. The protocol is characterized by several unique features, some of which include:
- Get Liquidity Without Removing Assets From Liquidity Pool: Users can keep their liquidity on a DEX in a liquidity pool and still have additional stablecoins to trade on different AMMs. For example, if a user has $10,000 locked in the $USDT-$USDC pool on Uniswap, that user can lock up their LPTs on Unbound and mint stable coins ($UND) worth $8,000 on BSC to trade on PancakeSwap while the users liquidity is still on Uniswap thereby enjoying the benefits of fee on Uniswap and having enough liquidity to trade on PancakeSwap. This way Unbound will be able to move liquidity from AMMs across different chains to PancakeSwap and vice versa without physically removing liquidity. Similarly, we support different AMMs across Ethereum, Polygon, BSC, Harmony and many others are in the process like OKEx chain, Klaytn, HECO Chain, Solana, etc.
- Debt-Free Borrowing: The protocol charges no interest on loans taken out by the liquidity providers. To redeem their loan, they simply have to repay the amount of UND or uETH they borrowed to retrieve their underlying collateral (i.e. their LP tokens).
- Liquidation-free Collateralization: Unbound completely nixes the liquidation engine seen with more collateralized lending platforms. As a result, users do not need to concern themselves with the potential liquidation of their collateral. Instead, Unbound uses SAFU, an emergency insurance fund, to secure the collateralized assets of the borrowers during the ‘black swan’ events.
- Perpetual Borrowing: At Unbound, loans have no fixed repayment deadline. Users can unlock their collateralized assets any time by paying back the outstanding debt — without any restrictions.
- The UND Stablecoin: Unbound Finance’s first product is the cross-chain, decentralized stablecoin known as UND. It is an ERC-20 token soft-pegged to the US dollar and backed by user deposits.
- Our security measures: Our platform has undergone robust verification and validation processes performed by some of the best industry auditors. Our first security audit and threat modelling exercise (STRIDE) was done by Peter Kacherginsky, a principal blockchain security researcher with a major crypto exchange and incident responder who helped us in identifying the threats such as flash loan attacks in our platform’s infrastructure and successfully executed our first audit. The second audit was completed with Securing, who reproduced the flash loan attack threat as pointed out by Peter Kacherginsky during the first audit. We resolved the issue by adding a block limit lock mechanism and implementing a new oracle structure. The Third audit was recently conducted by Whitehat Lucash-dev, a recipient of the Whitehat Scholarship at Immunefi, one of the highest-paid bug bounty hunters at Hackerone.
Q: Why does Unbound have two tokens?
Ans: UNBOUND stands for UNB O UND.
UNB is our Governance Token (United Nation Bank), UND is our Stable Coin (United Nation Dollar) and O stands for Opportunity.
Unbound gives you the opportunity to unbound your locked assets and make them more liquid!
$UND is the native stablecoin of Unbound Finance which is designed to be cross-chain and decentralized.
$UNB is the governance token for Unbound and will incur voting rights to the holders of the token.
Q: What are your forthcoming plans?
Ans: Our Ethereum, Binance Smart Chain, Polygon and Harmony Testnets are live and we will be going live with the mainnet in the days to come on all these chains along with integrations with other chains. You can review our detailed roadmap here: https://unboundfinance.medium.com/unbound-finance-roadmap-6acaf40f878e
Q: How are you different from other projects?
Ans: In terms of competition, we have DAI, Synthetix, NEXO as our competitors. CoinMarketCap has covered a deep dive article on how we have an edge over these protocols.
Q: Who are your investors?
Ans: We have fantastic advisors who are also our investors which include:
Sandeep Nailwal — Co-founder and COO of Polygon,
Sahil Dewan — Co-founder of Harmony,
Maxim Blagov — Co-founder and CEO of Enjin,
Thanh Le — Founder of Coin98,
Stefan George — Co-founder and CTO of Gnosis,
Ninor Mansor — Partner at Arrington XRP Capital,
Loi Luu — Founder & CEO of Kyber Network,
Amrit Kumar — President at Zilliqa,
Long Vuong — Founder and CEO of TomoChain,
Jack Herrick — Founder of Wikihow,
Daniel Stockhaus — Co-founder of Polkastarter,
Julien Bouteloup — Founder of Stake Capital and Curve Finance Core Team Member,
Barek Sekandari — COO of Fantom,
Thomas Bailey — General Partner of Bitriver
We have a number of upcoming AMA sessions with crypto communities including Fanthom, Coin98, Frontier, Zilliqa, Kyber Network and the like.
We value our community and as such we have proactively worked towards building it.
As a further initiative in this direction, Unbound took up the opportunity to participate in ‘The Crypto Summit’ and dedicated an hour talking about DeFi in a masterclass which was attended by founders and representatives of major crypto projects and retail users. The NFT airdrops for all the participants and representatives were powered by Unbound Finance.
We have also initiated a Sweep widget campaign from the 14th of this month the winners of which will be allocated guaranteed UNB worth $100. We are overjoyed to announce that we have already received over 62k+ registrations in such a short span of time. For those of you who are new to Unbound, we would like to welcome you to participate in our efforts to create a global crypto fintech.
We are extremely grateful to have all of these wonderful people from all over the world as our audience, and we look forward to serving even more people! If you are yet to join our #unbounders community, follow us on Twitter and Telegram and be a part of Unbound!
Connect With Us
If you would like to be a part of our ambassador programs or help us in any way, reach out to us at email@example.com
To stay in the loop and know more about us, check out our social media links :