Unbound Finance Roadmap

6 min readAug 19, 2021

We, at Unbound Finance, are building a decentralized, cross-chain protocol that leverages the liquidity of the AMMs to increase the efficiency of the DeFi space by using the liquidity pool token (LPTs) as collateral to mint synthetic assets such as UND stablecoin and uETH.

Unbound Testnets

Our Ethereum based protocol went live with its first testnet on 9th December 2020 on the Kovan test chain, a proof of Authority (PoA) publicly accessible blockchain for Ethereum dapps. We launched our Zeta testnet on 14th April 2021, giving DeFi users a chance to get hands-on experience on the protocol’s features before involving the real assets. The launch of Zeta testnet marked an important step towards the release of Unbound’s Mainnet. The community has shown tremendous support in Unbound’s journey so far.

Our testnet has been a huge success with active participation from over 5000 faucet users and still rising. Our testnets are initially designed to support test tokens of selected pools including DAI- USDT, DAI-USDC, USDT-USDC, ETH-DAI, ETH-USDT, ETH-USDC of which ETH-DAI is the most active pool with an average funding rate of 50%. The total UND minted until now is 2.45 million.

The main focus of the testnet has been towards improving the user experience through improved protocol UI, platform performance verification, and determination of risks associated with network vulnerabilities. The demo release opened up gateways for DeFi users to preview our protocol technology while demonstrating its ability to provide a stable throughput. It has proved functional in maximizing network participation and acquiring valuable community feedback.

Cross-Chain Expansions

As a part of our plan to construct native bridges for enabling cross-chain transfers of our stablecoin UND and other synthetic assets (like uETH), we are working towards building our platform on multiple EVM-based public blockchains. Our testnets on Ethereum, Binance Smart Chain and Polygon are live and we propose to target the launch of our testnet on Harmony chain per the release dates as presented in our roadmap for Q2 2021.

Along with these blockchains, our engineers are actively developing solutions for integration with various other chains such as Solana, Klaytn, HECO chain, Kucoin Community Chain, Fantom and OKEx chain. The details of our roadmap Q2 2021 are as follows:

Planned Roadmap

Mid August: Polygon Testnet Launch (Launched)
Early September: Harmony Testnet Launch
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
Mid November: Further Roadmap

Completion Of Security Audits

Since the launch of Unbound in 2020, we have achieved major milestones followed by a series of transitions and developments. Our platform has undergone robust verification and validation processes performed by some of the best industry auditors.

Our first security audit and threat modeling 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.

As per the block limit mechanism, any interaction with our smart contract will lead to locking up the SC for 3–5 blocks with respect to the address used. This will disable minting and unlocking to be performed in the same block, eventually mitigating any flash loan attack scenarios. The block limit can be changed or removed as per requirements.

As a part of the new price oracle solution for Unbound, we decided to use a geometric mean of Chainlink and Uniswap’s TWAP to provide a more accurate price feed and to reduce dependency on a single price oracle.

3. 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.

Once we implement the learnings from the Sandbox Mainnet Launch, we have planned to include yet a few smart contract audits and launch a bug bounty program.

Building The Team

Post our first round of investment wherein we raised $5.8 Million, we are headed towards expanding our team, bringing in value adders who would assist in paving the way for Unbound’s success. This includes Pratik Oswal, our CMO (Chief Marketing Officer) who thus far contributed to the team efforts from behind the curtains but is now officially a part of Unbound Finance. We also have a newly added marketing and community building team apart from a graphics and content writing team who are assisting us in promoting and adopting our protocol on various marketing platforms. We plan to grow further as more members would be joining us in the near future. In each of the forthcoming updates, we would introduce team members of Unbound.

Welcoming New Angels

We have already been backed by a number of investors and angels such as the founders of Angelist, Polygon, Enjin, Zilliqa, Gnosis, Harmony and TomoChain amongst many others. To add to this elite list, we are proud to welcome

Cyrus Fazel, Anthony Lesoismeir Geniaux and Alexzander Fazel (founders of Swissborg)
Bariq Sikandari (COO Fantom Foundation)
Julien Bouteloup (founder Stake Capital and Curve Crew)
Florian Le Goff (founder of Synaps)
Siwon Kim (founder of KSM starter)
Thomas Bailey (founder of Notation Capital)
Founders of MEXC Exchange
William Eden (co-founder and CEO of Tokenova and Trustpad)

Exciting Upcoming News: Building An Asset Management Protocol Fueled By UniswapV3

We are 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.

We seek to provide a non-custodial, permissionless platform connecting crypto enthusiasts with expert strategy managers that will manage user funds through the deployment of different strategies, thereby generating returns on user investments. These contracts are crucial because they would enable us to collateralize NFT positions from Uniswap V3 at Unbound in days to come. At a high level, this could be the fulcrum for managing programmable money in the most optimized way. We have already gone through an audit, and plan to launch Testnet and Mainnet in quick succession.

TGE

We have been in conversation with several platforms for our Token Generation Event 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.

Global Outreach

We are actively expanding our reach and forming communities in India, China, Korea, Vietnam, Japan, Indonesia, Europe, and the United States. We plan to explore and create separate native language communities in some of these countries on their most widely used social media platform.

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 partners@unbound.finance.

To stay in the loop and know more about us, check out our social media links :