Unbound is a decentralized cross-chain liquidity protocol that is building the derivative layer of Automated Market Makers (AMM). The intent of Unbound is to build products that are both native and composable to the DeFi ecosystem.
Dec 13, 2021 00:00:00
Dec 14, 2021 00:00:00
ICO Details
What Is Unbound?
Unbound is a decentralized cross-chain liquidity protocol that is building the derivative layer of Automated Market Makers (AMM). The intent of Unbound is to build products that are both native and composable to the DeFi ecosystem.
Synthetic Assets including a Stablecoin(UND), ETH,etcAMM pools that are cross derived from multiple AMMsOracle Price Feeds based on free markets and path independent value discovery.Building financial instruments for compounding yields and margin trades
Unbound protocol is building a management layer over the existing AMMs by locking up LPT to mint synthetic assets that further reinforces liquidity in AMMs and Defi, unlocking liquidity from existing AMM Liquidity Pools. The initial set of product Unbound has been built to include decentralized, cross-chain stablecoin called UND.
Unbound has created a robust architecture that does not require a Liquidation Engine. A combination of collateral ratio, risk management through selected stablecoin-ERC20 LPT pairs, and SAFU fund ensures a support system that is a lot more resilient than traditional crypto assets under similar circumstances. This is a huge shift from the existing lending landscape.
Unbound Unique Features
Unbound provides three main services in the form of fully automated Smart Contracts that do not require any third party intervention. The Smart Contracts make sure that the LPT pool is valid before a transaction can be created.
Minting
UND tokens and other synthetic assets are minted when users provide their LPT as collateral. The UND token represents a stablecoin pegged to the value of USD. Once users have their UND, they can use the funds immediately. Unbound will initially support LPTs from various AMMs such as Uniswap, Balancer, Mooniswap, Curve, Kyber, and Bancor, with others to follow.
The Loan-to-Value (LTV) ratio is the percentage of funds that users can mint against their collateral. This ratio is variable. For example if it’s set at 50%, for every $100 worth of LPT token deposited, users can mint up to 50 UND. There is a minting fee charged to the user. This minting fee acts helps to provide stability for the ecosystem and will remain variable to help UND maintain its dollar peg.
The UND minting terminology:
UND = Unbound Stablecoin
LPT = Liquidity Pool Token
LTV = Loan-to-Value Percentage
Minted UND = LTV x USD value of LPT
mFee = [Minting Fee % ] X [ Minted UND]
Minted UND to the USER = Minted UND – mFee
Unlocking
When users pay back their minted funds (including the minting fees), the UND is burnt during the unlocking process. This takes the minted UND out of circulation and in return the user gets back their collateralized LPT. There will be no other additional fees charged to users when they unlock their LPT.
Unbound smart contracts are perpetual, meaning they don’t have a maturity date on the money that has been minted, therefore there is no deadline for repayment of funds and users can continue to earn from their LPT.
Unlocked LPT = Returning Minted UND
Earn
Users can become Liquidity Providers for UND Pools. In return, UND is issued to users for providing that liquidity.
The Earn reward is over and above what a user will get in UniswapThe Earn reward is variable and is set to 40% of the Mint transaction fees in the initial phases.
Roadmap
Our testnets on Ethereum, Binance Smart Chain and Polygon are live and we propose to target the launch of our testnet on Harmony chain per the release dates as presented in our roadmap for Q2 2021.
Along with these blockchains, our engineers are actively developing solutions for integration with various other chains such as Solana, Klaytn, HECO chain, Kucoin Community Chain, Fantom and OKEx chain. The details of our roadmap Q2 2021 are as follows:
Planned Roadmap
Mid August: Polygon Testnet Launch (Launched)
Early September: Harmony Testnet Launch
Mid September: Sandbox Mainnet Launch On Ethereum
Early October: Sandbox Mainnet Launch On Polygon
Mid October: Sandbox Mainnet Launch On Binance Smart Chain
Early November: Sandbox Mainnet Launch On Harmony
Mid November: Further Roadmap
Unbound Token Economy
Dual token ecosystem, UND as stablecoin and UNB as a governance token.
UNB is used for protocol governance. Token holders will be able to vote for policy on proposed changes and implementations to better serve the community and increase the efficiency of the protocol. A perpetual inflation rate of 4% per year will start after 2 years, ensuring continued participation and contribution to Unbound at the expense of passive UNB holders.
The UND is a stablecoin that is pegged to USD and collateralized by LPT (Liquidity Pool Tokens). The value of UND minted is based on the value of the deposited LPT. Minted UND will be burned once deposited in the Unlock contract before the original collateral is returned to the user. Arbitrageurs in AMM pools ensure that the Dollar peg is maintained
Detailed Token Metrics
RAISE STATS
- Token Price: $1.00
- Token sold: 1,000,000 ~ 10%
Early Backers:
- Token Price: $ 1.5$
- Token sold: 500,000 ~ 5%
- Raise: $750,000
Seed:
- Token price: $2.00
- Token sold: 500,000 ~ 5%
- Raise: $1,000,000
Private
- Token price: $3.00
- Token sold: 500,000 ~ 5%
- Raise: $1,500,000
Token Distribution
Token Release Schedule
RAISE STATS:
- Lockup: 10% TGE, 20% 6M, 10% every 4M.
Early Backers:
- Lockup: 10% TGE, 20% 6M, 10% everry 3M
Seed:
- Lockup: 10% TGE, 30% 6M, 10% every 2M
Privated:
- Lockup: 10% TGE, 30% 6M, 10% every 2M
Partners & Advisors
Team Members
Updating…
Investors
Investors: Pantera Capital, Arrington XRP Capital, CMS Holdings, Hashed, LedgerPrime, LD Capital, TRGC, ArkStream Capital, ZeePrime Capital, Future Perfect Ventures, Brilliance Ventures, Woodstock, Coin98 Ventures & GenBlock Digital
The Angel investors that have also participated in our funding round include founders of Angelist, Enjin, Gnosis, Kyber Network, Polygon, Harmony, Frontier, Wikihow, DFYN, Dao-Maker, TomoChain and Polkastarter amongst many others.
LD Capital, Hashed, Future Perfect Ventures, LedgerPrime, Arrington XRP Capital, Zee Prime Capital, Coin98 Ventures, Pantera Capital, Sandeep Nailwal, Maxim Blagov, Stefan George, Josh Hannah, Thanh Le, Loi Luu, Amrit Kumar, Sahil Dewan, Long Vuong, Jack Herrick, Barek Sekandari, Nate Whitehill, Daniel Stockhaus, Anthony Lesoismier -Geniaux, Ravindra Kumar, Chris Zaknun, Shashwat Gupta, Ramani Ramachandran, Ravi Kanneganti, Julien Bouteloup, Thomas Bailey, ArkStream Capital, Woodstock Fund, Brilliance Ventures, TRGC Digital, CMS Ventures