Unbound Finance is preparing to unveil its highly anticipated version 2 on the Arbitrum One mainnet
Sources close to the project reveal that Unbound Finance is gearing up for the launch of version 2 on the Arbitrum One mainnet on April 11. This decentralized finance platform will provide liquidity providers with enhanced earning potential by allowing them to leverage their LP tokens as collateral for loans via Uniswap. This innovative move is anticipated to enhance the platform’s appeal. Unbound V2 will be one of the first protocols enabling collateralization of Uniswap V3 positions, simplifying the process for LPs to generate greater returns on their invested capital.
The launch is timely, as data indicates that billions of dollars are currently provided as liquidity to Uniswap by DeFi users. With Unbound, Uniswap V3 LPs can borrow the platform’s stablecoin, UND, interest-free, by using their concentrated liquidity positions as collateral. This functionality allows users to continuously earn rewards from Uniswap while obtaining loans for various DeFi activities.
Since its rollout on the Ethereum Goerli test network last October, Unbound version 2 has been operating smoothly. Beyond Uniswap V3 positions, Unbound is broadening its collateral support to include LP tokens from more volatile asset pools like WETH-DAI. Version 2 also integrates price stability mechanisms designed to automatically liquidate or redeem loaned positions, thereby ensuring that UND’s value remains stable and closely aligned with its $1 target.
The recent developments from Unbound Finance are expected to significantly impact the DeFi landscape, offering a more reliable platform for liquidity providers intent on maximizing their returns. As the platform expands its collateral options, it stands to draw increased liquidity and strengthen its position as a prominent entity in the fast-changing decentralized finance arena.
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