Unbound Finance (UNB) Announces IEO On Huobi Primelist




Unbound Finance (UNB), a Defi lending platform, laid the scene for the launch of its native governance token by launching an IEO on the Huobi Prime list.

Unbound Finance is designed to act as an aggregator layer on top of the existing Automated Market Makers (AMMs) that enable Ethereum and other blockchain-based decentralized exchanges (DEXs).

Unbound To launch Its Token

Starting with Unbound’s native stablecoin UND and uETH, the protocol allows users to use their idle liquidity pool tokens (LPTs) to get interest-free crypto loans issued in the form of synthetic assets.

AMMs, which incentivize users to offer liquidity in exchange for a share of transaction fees and free tokens (also known as farming yield), power DEXes.

However, because these AMMs are often isolated from one another, customers desiring to distribute funds across several protocols and chains may encounter difficulties.

Tarun Jaswan, the founder and CEO of Unbound Finance, designed the protocol to unlock the liquidity held in various DEXs across numerous chains–”making them more capital efficient.”

Huobi Primelist’s initial exchange offering (IEO) will be followed by listings on decentralized exchanges (DEXs) such as Uniswap, Balancer, PancakeSwap, Quickswap, and Curve, as well as centralized exchanges (Cass).

The Huobi listing will be preceded by Unbound IDO on Polkastarter, Red Kite, and GameFi, which were all announced for December 13.

Holders of the protocol’s native token UNB will be active members of the decentralized autonomous organization (DAO), as its governance utility allows them to vote on all protocol modifications, such as whitelisting pools for UND minting and setting Loan-To-Value parameters.

Conclusion

Unbound has raised $8 million in private sale rounds, backed by some of the industry’s best VCs, including Pantera Capital, Arrington XRP Capital, Ledger Prime, Kucoin, Gate, and MEXC, to name a few.

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