Unbound Finance, the DeFi protocol platform will be launching its upgraded version 2.0 on April 11th, offering liquidity providers a much-desirable option of utilizing LP tokens as collateral for loans on Uniswap. This platform is one of the few protocols in the market to render collateralization of Uniswap V3 positions and consequently, boosting liquidity providers to gain higher returns from their capital. Currently, billions of dollars of DeFi Users funds are locked in Uniswap according to data.

The Unbound version 2 which has been over six months on the Ethereum's Goerli network testnet, give Uniswap V3 LPs the opportunity to borrow Unbound's stablecoin UND at no cost. This loan feature empowers users to continue to earn rewards from Uniswap while using a loan function to utilize on other DeFi applications. It was also conveyed that Unbound will be expanding its collateral support for LP tokens of volatile asset pools such as WETH-DAI. To uphold the enduring value of UND with its $1 peg, Unbound version 2 will embed price stability mechanisms (PSMs) that can redeem or liquidate loaned positions if need be.

When this version becomes available in the DeFi industry, users can now have access to a much secured decentralised finance platform to help them achieve higher returns. With Unbound version 2, liquidity providers can easily borrow UND coin secured with their position, consequently boosting their income and profit. Moreover, it will also help to reduce risks associated with volatility of certain asset pools. This integration assists users to leverage the benefits of both decentralised finance and centralised finance more securely and with more autonomy.



Other News from Today