Unbound Finance plans to become the world’s first-ever decentralized cross-chain stablecoin is one step closer to become a reality as it completes a recent funding round.
Unbound Finance in a press release shared with Altcoin Buzz disclosed that it has raised $5.8 million from several top crypto VCs and Angel investors. Participants in the fundraising event include top players in the crypto space like Pantera Capital, Arrington XRP Capital, CMS Holdings, Hashed, LedgerPrime, LD Capital, TRGC, ZeePrime Ventures, Future Perfect Ventures, Brilliance Ventures, Coin 98, amongst others. Such immense support from important players in the crypto space is a strong pointer to the efficacy of the Unbound Finance protocol and what it hopes to achieve.
More on The Partnership
Speaking on the fundraising event, Dan Morehead, CEO of Pantera disclosed that Unbound is showing great potential of being a major player in the fast-growing decentralized finance (DeFi) space. Also, adding that it is with great pleasure that Pantera offers its support to Unbound as it capitalizes “[…] upon the untouched areas of the crypto industry”.
Michael Arrington, Founder TechCrunch also shares the same prejudice as Morehead. Also adding that “Unbound Finance is new primitive with the potential to unlock billions in unproductive value trapped in AMMs”.
Sandeep Nailwal of Polygon also spoke highly of what Unbound is looking to create. Also, disclosing that the team “[…] has created something that makes all AMMs efficient and will make interesting money legos in the space further.”
Founders of Angelist, Enjin, Gnosis, Kyber Network, Harmony, Dao-Maker, TomoChain, etc. are also interested in what Unbound is looking to achieve. Hence, their participation in the funding round.
CEO and Founder of Unbound, Tarun Jaswani, also threw more light on what Unbound was looking to achieve. Disclosing that the team was “[…] building the derivative layer to enable greater yields and capital efficiency for our users”.
About Unbound Finance
Unbound is a liquidity provider and token yield generation platform focused on leveraging idle liquidity in the wallets of AMM liquidity providers. Therefore, providing them with access to zero-interest loans in Unbound native token UND. The yield generation platform currently supports AMMs like Uniswap, Balancer, MooniSwap, and Sushiswap. Unbound also boasts of partnerships with EVM-compatible blockchains like Binance Smart Chain (BSC), Polygon, and Harmony.
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