Unbound Introduces On-chain Staking On Ethereum And Binance Smart Chain

Dear Unbounders,

We’re thrilled to announce the launch of Unbound’s on-chain staking rewards program on Ethereum and Binance Smart Chain.

Stake your $UNB to earn a fixed APR of 40%. The staking contracts will remain open for deposits between 24th January 2022, 12 PM (UTC) to 31th January 2022, 12 PM (UTC). Please find the below details of the $UNB staking program.

Staking Pool Size: 3 million UNB each on Ethereum and Binance Smart Chain

Locked Staking Format: First-come, first-served basis

Staking Lock-up Period: Fixed lock-up period of 6 months

Interest Calculation Period: Starting from 31st January 2022, 12 PM UTC to 30th July 2022, 12 PM UTC.

Please note that the stakes shall remain locked for a duration of 6 months. You can unstake the principal amount and claim rewards only after 30th July 2022. The rewards will be proportionate to your investment. A step by step guide to staking, unstaking and claiming $UNB rewards can be found below:

Setting up your Metamask:

1. Download the Metamask extension on your browser and follow the steps to set up your Metamask wallet.
2. $UNB staking is open on Ethereum and Binance smart chain so make sure you add your desired network to your wallet before you go to the Unbound staking page.

-Ethereum network is added by default to your wallet.

-Refer to the link below to add Binance Smart Chain network to your wallet
https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain

3. Once you are connected to your wallet, select the network on which you want to stake viz Ethereum or Binance network.

How To Stake

1. Go to https://app.unbound.finance
2. Select Stake. It will take you to the staking page.

3. Connect your wallet by clicking on either of the two “Connect Wallet” buttons on the page.

4. Click on “Stake”.

5. Enter the amount of UNB you want to stake. Alternatively, you can also click on “MAX” to stake all the UNB tokens in your wallet.

6. Click on “Approve UNB”.

7. Confirm the transaction in your wallet.

8. Wait for the transaction to approve.

9. Now click on “Stake”.

10. Confirm the transaction in your wallet.

11. Once you receive the approval message, your UNB will get staked successfully.

How To Your Claim Rewards

1. To view your accumulated rewards any time and claim them after the fixed lock-up period of 6 months, click on the “Redeem Rewards” dropdown.

2. The Redeem Rewards section displays information such as pending rewards, date of redemption along with a “Claim” tab that will get activated on the redemption date.

Note: The date and other details in the screenshot below are not actual and are only for testing purposes.

3. To redeem your rewards, simply click on “Claim”.

4. Your claimed UNB will be transferred to your wallet.

How To Unstake

1. You can unstake your principal amount at the end of the lock-up period. For unstaking, click on the “Unstake” tab. By doing so you can also view the amount of UNB staked by you.

2. Enter the amount of UNB tokens you want to unstake. You can also click on the “MAX” button to unstake all your tokens.

3. Click on “Unstake” and confirm the transaction in your wallet.

4. Once the transaction is approved, your unstaked UNB will be transferred to your wallet.

Note: If you “Unstake” the UNB before “Claiming” the rewards, your rewards along with your staked principal UNB tokens will get directly transferred to your wallet and you will not be required to claim the rewards separately.

Happy Staking!!

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

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.

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