Unbound Finance is developing a decentralized, cross-chain protocol that uses the liquidity of AMMs to improve the efficiency of the DeFi space by minting synthetic assets such as the UND stablecoin and uETH, utilizing the liquidity pool tokens (LPTs) as collateral. We're excited to reveal the Sandbox Mainnet Launch on Ethereum and more soon, after the recent launch of our Polygon and Harmony Testnets. Here are some of the more intriguing topics from our conversation with the OIG community :
Q1. Can you explain Unbound Finance in layman’s terms?
A1. Unbound Finance is a decentralized, non-custodial platform that is building a derivative layer over the existing AMMs and aggregates these AMMs to increase the overall capital efficiency of the DeFi space. Liquidity providers can compound their earnings by leveraging their LP tokens to mint synthetic assets such as 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 and Harmony. Many othe chains 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 repay the amount of UND or uETH they borrowed to retrieve their 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 borrowers during so-called ‘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.
Q2.Where are the "headquarters" of Unbound located?
A2. Our foundation is registered in Seychelles and the team is decentralized out of India, Singapore, Canada etc. We are planning to set up our presence in Singapore and Dubai in the very foreseeable future.
Q3. It must be such a task to control all these branches of development. How many people are you as of now?
A3. We are an 18+ team and ever-growing. We are seeking talent for community ambassadors (Vietnam, Russia, China), social media experts, developers etc. If any of you are interested, please reach out to us at firstname.lastname@example.org.
Q4. You recently updated your roadmap. What crucial points would you like to highlight?
A4. First of all, we would like to emphasize the upcoming milestones
Mid-August: Polygon Testnet Launch (Launched)
Early September: Harmony Testnet Launch (Launched)
Mid-September: Sandbox Mainnet Launch On Ethereum
Early October: Sandbox Mainnet Launch On Polygon
Mid-October: Sandbox Mainnet Launch On Binance Smart Chain
Early November: Sandbox Mainnet Launch On Harmony
You can find our detailed roadmap here https://unboundfinance.medium.com/unbound-finance-roadmap-6acaf40f878e
We would like you to pay special attention to the parts of
- Cross-Chain Expansions
- Exciting Upcoming News: Building An Asset Management Protocol Fueled By UniswapV3 (Very Very Excited! )
Q5.All these cross-chain expansions are massive! How many are working right now on the testnet?
A5. Currently our testnets are live on Ethereum, BSC, Polygon and Harmony chains.
Ethereum - https://zeta.unbound.finance/
Binance Smart Chain - https://bsctestnet.unbound.finance/
Polygon - https://polygon-testnet.unbound.finance/
Harmony : https://harmony-testnet.unbound.finance/
Uniswap V3 - https://v3.unbound.finance/
We have more than 5000 testnet users. We request and invite all community members to use our testnet and share their feedback with us. You can request our test tokens from the faucets in the testnet.
Q6. Many big chains & projects invested and supported Unbound. Why do you think these foundations are keen to support you?
A6. We may be one of the few projects that went with a live proof of concept on a testnet and not just a whitepaper. I still remember comments from Joey and Paul from Pantera Capital, they said we see day and night projects that are trying to achieve the impossible. Very rarely do we see a simple idea that has been executed efficiently and this impresses us the most. This mostly sums up the approach of most of our investors.
We also 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.
Q7. Blockchain is amazing but users have to trust your project to move their liquidity. We are looking forward to seeing which protocols will support this stablecoin. Any update that you can share on this?
A7. That's a great question. The best part of building on Blockchain is that the trust is placed on the code rather than the protocol. Our contracts will be extremely composable and we have already done three audits and plan to do a couple more before we remove sandbox restrictions.
We have been working hard for over a year to build Unbound. We have shared our tech and given our demo to some of the OGs in this space who have seen the tech and then invested and supported the project. We have a simple solution for a very complex problem and that's what all these angels loved about Unbound.
Q8. You built when the market was bearish, and now it’s turning bull - How do you see this market cycle, and where does Unbound fit in?
A8. Well, the market looks very good right now and we are seeing new institutional and retail investors coming in. $BTC is back above $50,000 which is a great sign. We started building when the market was extremely bearish. The market keeps running in cycles and irrespective of the market being bearish and bullish, we will continue working hard, innovating, building and working towards making the whole DeFi space extremely capital efficient.
Q9. Tell us more about the planned TGE date, exchanges, and potential launchpads?
A9. We have been in conversation with several platforms for our Token Generation Event (TGE) following which we have secured capital investments from the founders of leading IDOs including DaoMaker, Polkastarter, Trustpad, and KSM Starter. Besides, we are in close discussion with multiple centralized exchanges. We expect Unbound’s governance token UNB to witness Token Generation (TG) soon, enabling us to launch our token on one or more of these platforms.
Q10. One unique thing about Unbound Finance is that you’re not just Cross-Chain Aggregator, which seems like a massive undertaking, but you’re also the First-Ever-Debt-Free Liquidity Provision System. Can you explain how you can do that?
A10. We believe AMMs to be zero to one innovation in the blockchain space and we are building what we consider bleeding tech. When we started building Unbound as a derivative layer there were only 3 AMMs and around $200 million was locked in Liquidity Pools across these AMMs. Now, these numbers have gone up to over 100 AMMs and more than $40 billion is locked in these liquidity pools across all these AMMs. Our team has been at the forefront in understanding the tech, deriving our mathematics formulae and building scalable SCs.
Unbound is an aggregator of AMMs creating a derivative layer on top of several existing AMMs like Uniswap, Balancer, PancakeSwap, QuickSwap, etc. It has been built grounds-up and it is not a fork of any existing protocol. The main intent of Unbound is to make the illiquid liquidity pool tokens more liquid thereby increasing the capital efficiency of the Defi eco-space. Now as far as no liquidation is concerned we would like you to please review
Q11. You have created two different types of tokens, UND and UNB. They have different roles in your ecosystem. Can you tell in detail the roles and functions of the two coins?
A11. $UND is our first synthetic asset which is a decentralized cross-chain stablecoin. 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 ratio. 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 be the price of UNB.
We will be launching UNB pools with all our partners and users adding liquidity to UNB pools will be rewarded.
Q12. What do you want to receive from the community and how can we help with your project towards the launch?
A12. We would like to have you join us on telegram and follow us on Twitter. Our TG dates, incentives and NFT airdrops will be communicated in our community first.
If you run a community we would love to speak to you, please reach out to Pratik @cryptomathemagician or write to us at email@example.com
Please do try our testnet and send us your feedback
Q13. I read that any interaction with your smart contract will cause SC to lock for 3-5 blocks concerning the address used. Can you explain in more detail about your smart contract? Is it possible that the block boundaries can be changed or removed as needed?
A13. That's a great question. We have used this as an attempt to secure the SC against flash loan attacks. This is explained in more detail here
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 firstname.lastname@example.org
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