Unbound Finance receives new capital investment of $5.8 million from leading crypto investors : Pantera Capital, Arrington XRP Capital and more
Pantera Capital and Arrington’s XRP Capital, leading crypto investors have invested $5.8 million dollars to support Unbound Finance, the first decentralized cross-chain stablecoin ever. Unbound aims to provide a “liquidation-free collateralization platform” where the users are allowed to borrow loans free of interest against liquidity pool tokens that serve as collateral. Forming strategic partnerships, this project aims to build native bridges which allows cross-chain transfers of UNB stablecoin as well as other synthetic assets.
Who are the investors?
The DeFi project is supported by leading venture investors in the Blockchain ecosystem consisting of Pantera Capital, CMS Holdings, Hashed, LD Capital, Ledger Prime, TRGC, Arrington’s XRP Capital, ZeePrime Capital, Brilliance Ventures, Coin98 Ventures, Woodstock and more.
Unbound Finance has the potential to unlock billions in unproductive value which is trapped in AMMs, there is excitement surrounding the launch of Unbound as it provides new mechanisms in DeFi. Unbound builds the key tools to capitalize on unexplored parts of the DeFi ecosystem.
Its DeFi Treasury for Liquidity Pool Tokens went live in December 2020 and launched its final Zeta test-net recently in April 2021. The other Angel Investors who have invested in Unbound include founders of Polygon, Harmony, Frontier, Kyber Network, Wikihow, Daomaker, Polkastarter, Enjin, Angelist amongst many.
This funding will utilized for the development and growth of Unbound’s protocol which leverages the liquidity that are lying idle in the wallets of AMM liquidity providers. They will also be used for the expansion of the team, research & development , provisions for liquidity, audits, adoption regarding the AMM space. The new capital also opens opportunities for Unbound to fund new initiatives.