September 28, 2021 - 3 min read
We are pleased to announce that Unbound Finance and SupraOracles will partner together in building the next ‘money lego’ in the world of decentralized, cross-chain liquidity protocols. A key element to driving its success will be the bridges between chains and having the ability to quickly, yet accurately process valuable information through an oracle such as asset pricing.
The untapped potential of liquidity pool tokens
Unbound Finance recently raised $5.8 million from notable investor groups such as Pantera Capital, Arrington XRP Capital, and #Hashed for its great potential in playing a leading role as a decentralized finance (DeFi) treasury protocol for pooled tokens.
With the investment, Unbound will continue to build out their novel cross-chain stablecoin, Unbound Dollar (UND), in which investors can utilize to provide liquidity on automated market maker platforms (AMMs) such as Uniswap, Sushiswap, PancakeSwap, Kyber Network, and more.
During the minting and transfer process of cross-chain synthetic assets such as the Unbound Dollar (UND), SupraOracles will provide support for the price of records on liquidity pool tokens, which will get priced via secure real-time Oracles instead of the current industry practice of x*y=k.
By providing Unbound Finance’s protocol to live “closer to the data-faucet’, its liquidity pool token users will benefit from more accurate reflexivity and better latency.
Tarun Jaswani, CEO and Founder of Unbound Finance, commented: “Unbound is delighted to welcome their alliance with SupraOracles, which will bring about a new age of developing the next “money lego” in the realm of decentralized, cross-chain liquidity protocols”
Joshua D. Tobkin, CEO and Co-founder of SupraOracles, commented: “The future of blockchain and DeFi is having the ability to interact cross-chain. Unbound Finance’s ambitions and vision for the future of this industry are not only compelling, but much needed. SupraOracles is happy to play a supportive role in helping Unbound Finance achieve their goals and directives.”
Unbound finance is a decentralized, cross-chain liquidity protocol that is building the next money lego by unlocking the liquidity from AMMs. The protocol is the ‘First-Ever-Debt-Free Liquidity Provision System’ that collateralizes LPTs to generate synthetic assets including UND and uETH. The protocol charges no interest rates and is liquidation-free.
As the DeFi treasury for liquidity pool tokens, UND will be the cross-chain decentralized stablecoin native to the AMM space and will be one of the first projects to launch aggregator contracts and strategies for concentrated liquidity provision on Uniswap V3.
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SupraOracles strives to bridge the gap between traditional capital markets and the Web3.0 ecosystem. Our vision and driving mission is to empower the developer community with a novel oracle toolset so that they may conveniently create, deploy, and manage data applications with superior performance, robustness, and agility.
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Together with our developer community and growing list of partners, SupraOracles aims to solve the oracle dilemma and ultimately, power the future of finance.
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