We are delighted to announce that Unbound Finance is now live on the Fantom mainnet. The launch will effectively expose Unbound users to Fantom’s accessibility, security, minimal fees and near-instantaneous transactions.
With Ethereum, Polygon, BNB Smart Chain, Avalanche, and now Fantom, Unbound has come a long way. We’re humbly thankful to the vibrant Unbound community for their continuing support throughout our journey so far.
Through this release, Unbound intends to accelerate the efficiency of liquidity locked across various Fantom-based dexes such as SoulSwap and SpookySwap. Network participants will now be able to leverage LP tokens of select stablecoin pools to unlock additional yield in the form of Unbound’s native stablecoin UND at 0% interest and no risk of collateral liquidation. In doing so, users will continue to earn transaction fees from providing liquidity to the underlying pools. Additionally, the protocol’s Farm feature will enable users to stake their already collateralized LP tokens back in the yield farming pools and benefit from the rewards offered by the DEX.
Further, the newly minted UND will provide users with multiple avenues to grow the returns from their existing DeFi investments. Using the EARN feature of the protocol, users can add liquidity to the UND-USDC pool on SpookySwap and earn high APRs by directly staking the LP tokens on the Unbound platform.
The mainnet has been rolled with an initial borrowing cap of $1m. To begin with, LP tokens of SpookySwap’s USDC-TUSD, USDC-FUSDT, USDC-DAI and SoulSwap’s USDC-DAI liquidity pools will be supported as collateral at Unbound. The Loan-to-value (LTV) ratio for all the aforementioned pairs is initially set to 80% and is subject to change. A one-time minting fee of 0.4% will be charged on UND minting.
1. SpookySwap: USDC-TUSD, USDC-FUSDT and USDC-DAI
2. SoulSwap: USDC-DAI
The addresses used for the deployment of Unbound’s contracts on Fantom are as follows:
UND Stablecoin Token Address:
Note: Support for other DEXs and pools will be added gradually.
1. Mint: Collateralize LP Tokens of the supported liquidity pools to borrow UND stablecoin.
2. Farm: Stake collateralized LP tokens of SpookySwap’s USDC-TUSD pool to earn LP mining rewards offered by the Dex.
3. Earn: Provide liquidity to the UND-USDC pool on SpookySwap using the protocol’s Earn feature.
4. Farm: Stake LP tokens of SpookySwap’s UND-USDC pool directly on the Unbound platform to earn high APRs.
5. Unlock: Unlock the collateralized assets at any time by repaying the UND loan partially or completely.
For more assistance on how to use Unbound, check out our written and video guides. A comparative illustration between a DeFi user and an Unbound user will also aid you to understand how Unbound can be leveraged to compound your existing DeFi yields.
- The loan to value (LTV) for LP tokens of SpookySwap and SoulSwap’s select pools is currently set to 80%
- The minting fee is initially set at 0.4%. The LTV and minting fee are not fixed and may vary for different asset pairs and across chains
- Minting limit: $1m
- The interest rate on UND borrowing is 0%
- For stablecoin-stablecoin asset pairs, the underlying collateral will never be liquidated
Unbound Finance is an Ethereum-based cross-chain 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, QuickSwap, KyberSwap etc.
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 asset UND
- SAFU reserves
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