Unbound Finance is set to launch its eagerly-awaited version 2 on the Arbitrum One mainnet on April 11, according to sources close to the project. The decentralized finance platform will offer liquidity providers the chance to access higher returns by using their LP tokens as collateral for loans on Uniswap, a move that is expected to boost the attractiveness of the platform. Unbound V2 will be among the first protocols to offer collateralization of Uniswap V3 positions, making it easier for LPs to earn more from their capital.
The platform comes at a time when billions of dollars are supplied as liquidity to Uniswap from DeFi users, according to on-chain data. With Unbound, Uniswap V3 LPs can borrow Unbound’s stablecoin, UND, interest-free, secured against their concentrated liquidity positions. This feature allows users to continually earn rewards from Uniswap while being able to take out loans that can be used for other DeFi applications.
Unbound version 2 has been running successfully on the Ethereum Goerli network test network since last October. In addition to Uniswap V3 positions, Unbound is also expanding collateral support to LP tokens of relatively volatile asset pools, such as WETH-DAI. The version 2 introduces price stability mechanisms that automatically liquidate or redeem loaned positions to ensure UND’s value remains stable and closely aligned with its intended $1 peg.
Unbound Finance's latest offering is expected to shake up the DeFi space and provide a more robust and secure platform for liquidity providers looking to maximize their returns. As the platform expands its collateral support, it is poised to attract even more liquidity and cement its place as a leading player in the rapidly-evolving world of decentralized finance.
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