The Unbound Sandbox Mainnet Is Now Live On Ethereum
Today, we are proud to announce that Unbound Finance has been deployed to the Ethereum mainnet and is now live!
Unbound is a new, decentralized liquidity protocol that provides interest-free synthetic asset loans in the form of UND stablecoin and uETH against liquidity pool tokens (LPTs) as collateral.
With no liquidation engine at Unbound, our platform eliminates the risk of collateral liquidation even during extreme price surges. Unbound does not impose any deadline on the repayment of borrowed funds. The main intent of our protocol is to build composable, DeFi-native products and to open newer and better opportunities of yield for our users.
The mainnet today represents one of the most significant milestones in our quest to make DeFi more capital efficient and marks the beginning of our mission to creating the first-ever decentralized, cross-chain stablecoin ($UND). The day is indeed the outcome of a year and a half of dedicated hard work, research and development by the entire Unbound team and unprecedented support from our angels, investors and the Unbound community members in our journey so far.
Since the inception of our protocol in April 2020, Unbound has been in the works to prepare the platform for the mainnet. We launched our first testnet on the Ethereum Kovan testchain in December 2020 while our final Zeta testnet went live in April this year.
The main focus of our testnets has been towards improving the user experience through improved protocol UI, platform performance verification, and the determination of risks associated with network vulnerabilities. With over 5000 faucet users, our community has actively participated and made our testnet a huge success.
We value our community and give maximum priority to provide our users with a highly secured and risk-free platform. As such, we’ve implemented various measures and safety procedures to protect the integrity of the funds.
To date, the Unbound platform has undergone four audits by expert industry auditors, including Peter Kacherginsky and Securing who performed the first and second audits respectively while the last two were implemented by Lucash-dev. As additional safety precautions, we have planned several more audits and bug bounty programs in the days to come to ensure complete platform security.
Despite the safety precautions taken at our end to secure the platform against malicious cyber attacks, users should be aware of the possibilities of associated risks and bugs. As such, we recommend users interacting with the Unbound mainnet at this early stage to initially use small funds.
In accordance with our detailed roadmap announced earlier in August this year, we will now open our platform in a restricted environment.
You can access the Unbound Sandbox Mainnet from here.
Through the sandbox mainnet launch, we intend to take measured steps in releasing our fully functional mainnet platform by initially limiting our TVL and UND minting. We gradually plan to increase our liquidity, adding greater number of pools supported by multiple Ethereum based AMMs and lift the restriction on UND minting.
We would like to confirm that the Ethereum address that will be used for deploying Unbound’s contract will be as follows:
UND token address:
Please note that Unbound’s contracts had been deployed on mainnet on 15th September in sync with our roadmap. The contracts, however, require a period of 7 days to get activated which is why they go live from today.
Since we are now launching the sandbox mainnet, Unbound will initially provide support for liquidity pools from Uniswap only.
The sandbox environment conditions are as follows:
Supported Pair: USDC-USDT
UND cap: 100k
Total Targeted TVL: $120k
The above sandbox restrictions are at the launch. This will keep on changing. The latest conditions can be found here.
The sandbox mainnet launch will open all the functionalities of our protocol for the users. Liquidity providers (LP) on Uniswap can now lock their liquidity provision tokens (LPTs) on the Unbound platform as collateral to initially mint our native stablecoin $UND. The users can compound their earnings by using the borrowed UND for multiple purposes such as trading or creating more liquidity pools. While doing so, the users can continue to accrue their existing earnings from liquidity provider fees.
We would like to remind the users that this is a sandbox mainnet and so we do not have a high TVL. Once the sandbox restrictions are lifted, the users will be exposed to full TVL, more collateral types and support of pools from multiple other AMMs.
What’s Next For Unbound After The Mainnet?
Post our sandbox mainnet launch on the Ethereum platform, we plan to go live on multiple other blockchains including Polygon, Binance Smart Chain, and Harmony. The full details of our roadmap can be viewed here. We are also building doorway liquidity aggregator contracts for Uniswap V3 with a view to collateralize strategies for Unbound liquidity. The protocol will work towards streamlining user investment in Uniswap V3 pools. These contracts would for the first time, enable us to collateralize NFT positions from Uniswap V3 at Unbound in days to come.
Join Our Community
Over the last several months, we have built a highly enthusiastic and active community from across the globe. We have recently spread our wings forming communities in China, Korea, Vietnam and Indonesia. We further plan to expand our reach in countries such as Japan, Russia, Malaysia, Thailand and many more.
We have over 24k active users on Twitter and more than 10K members on Telegram. We would like to thank you all for your immense support and participation and would also like to welcome new members to the Unbound ecosystem.
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 :
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