Unbound Finance Launches on Arbitrum One Mainnet to Unlock Billions in Uniswap V3 Pools
By: Unbound FinanceExternal PR
“Unbound Finance introduces collateralization support for Uniswap V3 positions to expand yield opportunities in DeFi”
Unbound Finance, a non-custodial stablecoin lending platform in the DeFi space, has today announced the launch of its highly-anticipated Unbound V2 on the Arbitrum One mainnet.
Unbound Finance is a decentralized, cross-chain lending protocol that enables DeFi users to borrow over-collateralized stablecoin loans by pledging their idle interest-bearing tokens (ib tokens) at a 0% interest rate. The protocol, in its new version, expands on the capabilities of Unbound V1 by introducing support for positions on concentrated liquidity market-making (CLMM) decentralized exchanges (DEXs) such as Uniswap V3.
CLMMs have revolutionized the DeFi industry by increasing capital efficiency and drawing in significant liquidity. Unbound V2 will enable users to borrow stablecoin loans by depositing wrapped Uniswap V3 positions of second-layer protocols, such as DefiEdge and Arrakis, that consolidate positions on CLMMs, making it easier for users to collateralize their positions and expand their leverage opportunities.
Unbound V2 will also support the collateralization of liquidity pool tokens (LPTs) of volatile assets such as WETH-DAI to borrow Unbound’s USD-pegged stablecoin, UND. This will allow users to access a wider range of liquidity and expand opportunities for value creation through the platform. Additionally, improved price stability mechanisms (PSM), including liquidation and redemption, have been introduced to ensure that the value of UND remains close to its peg. With interest-free borrowing and perpetual borrowing options, Unbound V2 makes it easy for users to unlock the underlying collateral at any time by simply paying back the borrowed amount.
“We’re excited to support the launch of Unbound V2, which promises to unlock new opportunities for LPs both now and in the future,” said Paul Veradittakit, Managing Partner of Pantera Capital, which led Unbound’s June 2021 fundraising round.
“At Offchain Labs, we welcome high-caliber protocols such as Unbound focused on finding innovative ways to improve capital efficiency in DeFi,” said Peter Haymond, Senior Partnership Manager at Offchain Labs.
With the launch of Unbound V2, users can now access billions locked in Uniswap V3 pools and take advantage of the enhanced capital efficiency provided by CLMMs. The Unbound team is dedicated to pushing the boundaries of innovation and creating cutting-edge solutions to unlock value in the DeFi ecosystem.
For additional information regarding Unbound Finance, please visit: https://www.unbound.finance/
About Unbound Finance
Unbound Finance is driven towards enabling new and better yield opportunities with a view to improving the capital efficiency of the DeFi ecosystem. The platform enables DeFi users to borrow over-collateralized synthetic asset loans in the form of UND stablecoin by collateralizing liquidity pool tokens (LP tokens) and concentrated liquidity positions of next-gen AMMs such as Uniswap V3.
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