Unbound Finance Integrates With Harmony Blockchain To Accelerate Inter-blockchain Operability And Profitability
Unbound finance, a DeFi Treasury for Liquidity Pools tokens, that is building a derivative layer on (Automated Market Makers) AMMs, announces the beginning of partnership cooperation with Harmony, a fast and open blockchain for cross-chain dapps. The aim is to make AMM-based decentralized exchanges (DEXs) built on Harmony, become more capital efficient and accelerate inter-blockchain operability and profitability through the use of UND, Unbound’s decentralized cross-chain stablecoin via Harmony’s multi-chain bridge.
AMMs have revolutionized the way decentralized finance is seen and used. Permissionless and trustless, they form the base of the DeFi building blocks for the effective execution of programmable money. Unbound’s idea to build a money lego in sync with Harmony’s cross-chain bridges for asset transfers will provide a lucrative platform for digital traders to grow their revenue across balkanized blockchains.
Unbound will enable network users to borrow UND by collateralizing liquidity across AMMs on the Harmony blockchain without having to compromise on the incentives gained from the collateralized funds. Subsequently, UND could be put to various profit-making use cases including trading on Harmony-based DEXs such as ViperSwap, Mochiswap, Openswap and SushiSwap or tapping staking opportunities, thereby empowering UND to emerge as a promising, yield generating investment vehicle in the DeFi ecospace.
Furthermore, the announcement states the tradability of Unbound Finance’s governance token UNB on the Harmony network. The token will confer its holders with participation rights in Unbound’s policies and protocol decisions.
Sahil Dewan, co-founder of Harmony said, “We are excited about joining forces with Unbound Finance, a promising protocol with a powerful vision in the Defi sector. The partnership will build a foundation for cross-chain yield generation and profitability providing a broad exposure to digital money users to endlessly leverage Automated Market Makers to their full potential”.
“The amalgamation of Unbound finance and Harmony will present a new paradigm in the fast-growing cross-chain crypto ecosystem bequeathing greater profit potential for digital currency investors and traders”, commented Tarun Jaswani, founder and CEO of Unbound Finance.
The Unbound testnet on the Harmony test space can be reached from here whereas to access the Harmony faucet click here.
About Unbound Finance
Unbound Finance is an Ethereum based lending protocol that uses the liquidity of Automated Market Makers as collateral. Users are bound by highly secured, perpetual smart contracts and are free from the risk of their collateral being liquidated. Currently Unbound supports AMMs across various multi-chain platforms like Uniswap, Curve.fi, Bancor and Mooniswap.
Key features highlighting Unbound’s foundation include
- Liquidation-free liquidity provision system
- Creating a no debt position when assets are minted
- Perpetual borrowing
- Factory Smart Contracts
- Decentralized, cross-chain stablecoin UND
- Minting synthetic assets like uETH
- SAFU reserves
Relevant Documentation:
Website: https://unbound.finance
Testnet: https://testnet.unbound.finance
Harmony Testnet:https://harmony-testnet.unbound.finance/
Harmony Faucet:https://faucet.pops.one/
Unbound Uniswap V3 Aggregator Testnet: https://v3.unbound.finance
Whitepaper: https://docs.unbound.finance
Twitter: https://twitter.com/unboundfinance
Telegram: https://t.me/unboundfinance
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