On the Sep 5th 2021, TAG community has a Telegram AMA with Unbound Finance
At the AMA: Mr. Tarun Jaswani – Founder & CEO of Unbound Finance, Mr. Pratik Oswal – CMO of Unbound Finance, introduced and shared many interesting information about Unbound.
The AMA would be happened as follows
Segment 1: Warm up.
Segment 2: Answer the questions from twitter (5 questions)
Segment 3: Live Q&A session (5 questions)
And now we will start the AMA with segment 1: Warm up
Tag: Hello everyone, welcome to excited AMA session between TAG Ventures and Unbound Finance
Please welcome our special guests today:
Mr. Tarun Jaswani – Founder & CEO of Unbound Finance
Mr. Pratik Oswal – CMO of Unbound Finance
Hello @cryptomathemagician @Meethlaksh
Are you ready for our AMA today?
Unbound: @cryptomathemagician Excited and looking forward for the AMA with the amazing community of TAG!
@Meethlaksh Yes we are ..Happy to have an opportunity to have our first AMA with Vietnamese Crypto Community
Tag: Yeah. It’s so great to have you here to share with us about Unbound Finance.
Thanks a lot!
First, could you please introduce your team and Unbound Finance?
Unbound: @cryptomathemagician We have over 20 members in our team. We will quickly introduce ourselves here.
I was working for 4 years with Stanford University’s Highwire Press post which I was leading an ed-tech startup.
In the crypto space, I have been a blogger and the Chief Technical Analyst at a leading Crypto Media House. I have written over 200 articles on project reviews and have been a strategic advisor and investor in over 50 projects. I am the CMO at Unbound Finance
@Meethlaksh We have over 20 members in our team and growing rapidly
Little about me
I was building an AD Network for VR apps and working closely with companies like Unity, Steam, Etc. I discovered Blockchain in 2016-2017 and went all in 🙂 Established a Family office, attended conferences and travelled the whole world understanding how each community was treating this technology. Being a coder helped me look under the hood and figure the next fundamental shift. I started building Unbound early last year, once I realized that AMMs will be zero to one innovation in this space. I am the Founder & CEO of Unbound Finance.
Unbound Finance:
Unbound Finance is a decentralized, non-custodial platform that is building a derivative layer over the existing AMMs and aggregates these AMMs with a view to increasing the overall capital efficiency of the Defi space. Liquidity providers can compound their earnings by leveraging their LP tokens to mint UND (decentralized, cross-chain, stablecoin soft pegged to the US dollar) and uETH. The protocol is characterized by several unique features, some of which include:
Get Liquidity Without Removing Assets From Liquidity Pool
Users can keep their liquidity on a DEX in a liquidity pool and still have additional stablecoins to trade on different AMMs. For example, if a user has $10,000 locked in the $USDT-$USDC pool on Uniswap, that user can lock up their LPTs on Unbound and mint stable coins ($UND) worth $8,000 on BSC to trade on PancakeSwap while the users liquidity is still on Uniswap thereby enjoying the benefits of fee on Uniswap and having enough liquidity to trade on PancakeSwap. This way Unbound will be able to move liquidity from AMMs across different chains to PancakeSwap and vice versa without physically removing liquidity. Similarly, we support different AMMs across Ethereum, Polygon, BSC, Harmony and many other are in the process like OKEx chain, Klaytn, HECO Chain, Solana, etc.
Debt-Free Borrowing
The protocol charges no interest on loans taken out by the liquidity providers. To redeem their loan, they simply repay the amount of UND or uETH they borrowed to retrieve their collateral (i.e. their LP tokens).
Liquidation-free Collateralization
Unbound completely nixes the liquidation engine seen with more collateralized lending platforms. As a result, users do not need to concern themselves with the potential liquidation of their collateral. Instead, Unbound uses SAFU, an emergency insurance fund, to secure the collateralized assets of borrowers during so-called ‘black swan’ events.
Perpetual Borrowing
At Unbound, loans have no fixed repayment deadline. Users can unlock their collateralized assets any time by paying back the outstanding debt — without any restrictions.
The UND Stablecoin
Unbound Finance’s first product is the cross-chain, decentralized stablecoin known as UND. It is an ERC-20 token soft-pegged to the US dollar and backed by user deposits.
Tag: And the second question is:
What are the competitive advantages of Unbound Finance compared to other projects?
Unbound: @Meethlaksh One of our biggest value add is the no liquidation engine, which is a inherent approach to collateralization in the blockchain space.
In terms of competition, you can visit the last part of the article published by CoinMarketCap when they did a deep dive tech analysis on Unbound.
[https://coinmarketcap.com/alexandria/article/what-is-unbound]
Tag: Great! We’ve translated this article already
And now please share with us some new upcoming events, as well as big partners Unbound Finance has been working with during its development period.
Unbound: @cryptomathemagician Our Ethereum, Binance Smart Chain, Polygon and Harmony Testnets are live and we will be going live with the mainnet in the coming few weeks on all these chains along with integrations with other chains. You can review our detailed roadmap here :
[https://unboundfinance.medium.com/unbound-finance-roadmap-6acaf40f878e]
We have already signed up an agreement with major protocols for adoption which include Polygon, Tomochain, C98, Enjin, Harmony, Curve, Gnosis, Frontier, Zilliqa, Kyber, Fantom, etc. All of these projects will be launching their tokens with our stable coin which will lead to a huge adoption since these projects have been around for a very long time and proven us how strong they are. We have access to their whole community.
Along with this answer, segment 1 of the AMA has been closed. I think people have had an overview of your team and Unbound Finance
To go into more detail, we’ll come to segment 2: Answer the questions from twitter (5 questions)
Before moving to this segment, I would like to remind the tasks of this AMA.
Kindly join/follow Unbound Finance’s media social channels here
Twitter : https://twitter.com/unboundfinance
Telegram Global : https://t.me/unboundfinance
Telegram Announcement : https://t.me/UnboundAnnouncements
And don’t forget to join Unbound Vietnam Telegram for update: https://t.me/unboundfinancevietnam
Tag: The first question of this segment is:
Can you tell me about security? Are you done auditing the platform? Is there any error in the smart contract? How is the test result?
https://twitter.com/jungbogo7
Unbound: @cryptomathemagician Since the launch of Unbound in 2020, we have achieved major milestones followed by a series of transitions and developments. Our platform has undergone robust verification and validation processes performed by some of the best industry auditors.
1. Our first security audit and threat modeling exercise ([STRIDE] was done by [Peter Kacherginsky], a principal blockchain security researcher with a major crypto exchange and incident responder who helped us in identifying the threats such as flash loan attacks in our platform’s infrastructure and successfully executed our first audit.
2. The second audit was completed with [Securing], who reproduced the flash loan attack threat as pointed out by [Peter Kacherginsky] during the first audit. We resolved the issue by adding a [block limit lock mechanism] and implementing a new [oracle structure].
As per the block limit mechanism, any interaction with our smart contract will lead to locking up the SC for 3–5 blocks with respect to the address used. This will disable minting and unlocking to be performed in the same block, eventually mitigating any flash loan attack scenarios. The block limit can be changed or removed as per requirements.
As a part of the new price oracle solution for Unbound, we decided to use a geometric mean of Chainlink and Uniswap’s TWAP to provide a more accurate price feed and to reduce dependency on a single price oracle.
3. The Third audit was recently conducted by Whitehat [Lucash-dev], a recipient of the [Whitehat Scholarship] at [Immunefi], one of the highest-paid bug bounty hunters at [Hackerone].
Once we implement the learnings from the Sandbox Mainnet Launch, we have planned to include yet a few smart contract audits and launch a bug bounty program.
Tag: The 2nd question is:
What makes Unbound Finance different from other DeFi solutions like Uniswap or PancakeSwap? And what is your strategy for liquidity management for users on Uniswap V3?
https://twitter.com/ainaa_baby
Unbound: @cryptomathemagician Firstly, we aren’t a swap. We are a derivative layer on top of other existing swaps(DEXs). So more AMMs that we get in the space, the better for us as it provides more Liquidity for Unbound Finance and makes this whole space more capital efficient. So any swap is not a competition for us but rather beneficial for us as well as for them.
We have built a solution for Uniswap v3 which is called as DefiEdge. DefiEdge is a decentralised hedge fund management protocol built on Uniswap v3 where users assets will be managed by professional strategy managers. In fact, our Uniswap v3 test net was also covered in the Uniswap v3 whitepaper where they mentioned Unbound as a top community project built on Uniswap v3. Liquidity providers on Uniswap v3 can leverage their liquidity by locking it up on Unbound and minting our decentralised cross chain stable coin UND.
Tag: And the 3rd question is:
Will there be a public offering for Unbound? How to get tokens in the fastest way in the early bird? What are incentives of $UNB Token bring to community and investors?
https://twitter.com/girlofcrypt/status/1433678255836467208
Unbound: @cryptomathemagician Yes. We will be having a public sale very soon. The details of the public sale will be announced to the public. You can join our Telegram and Twitter channel to get the updates about the public sale.
We are already in conversation with some of the biggest launchpad platforms on centralised exchanges for an IEO. Along with that, we have investments from the major IDO platforms like Polkastarter, DAO Maker, Trustpad, etc.
Twitter : [https://twitter.com/unboundfinance]
Telegram Global : [https://t.me/unboundfinance]
Telegram Announcement : [https://t.me/UnboundAnnouncements]
Telegram Vietnam: [https://t.me/unboundfinancevietnam]
Telegram Korea: [https://t.me/unboundkorea]
Tag: The 4th question is:
What is the business model of the project? How does it work?
Who are your prospects and what markets are you targeting?
https://twitter.com/mandookkk/status/1433657530689810438
Unbound: @cryptomathemagician Unbound charges a 0.6% minting fee whenever someone locks up their liquidity pool tokens and mints UND (Stablecoin). 20%(0.12%) of this fee goes to Unbound. We are targeting the $40 billion AMM market at present. As per our projections, the AMM (DEX) space will be at $300 billion valuation in the next 3 years. If we can capture 5% of this liquidity in 3 years, we can lock up $15 billion from AMMs across multiple chains in Unbound. At an average 50% Loan-to-value, that would issue $7.5 billion worth of UND generating a total fee of $45 million. Of this $45 million, $9 million would be parked with Unbound. This is considering a single transaction. Considering an average of 10 transactions by users (locking and unlocking) over 3 years, this fee would go up to $90 million.
At 10% market capture, this fee goes up to $180 million.
At 15% market capture, this fee goes up to $270 million.
At 1% market capture, this fee goes up to $18 million.
Apart from this, 40% of the minting fee will be deployed in SAFU funds which would be used for Liquidity Mining.
Tag: And the last question of this segment is:
Can you explain how the UNBOUND team managed to solve the Liquidation problem? Do you expect this solution method to be an example for other projects?
https://twitter.com/MsNazmul4/status/1433660220207628288
Unbound: @cryptomathemagician Two of the prime features of Unbound which distinguishes us from any other project is :
1. Debt-free borrowing. You can borrows our decentralised cross chain stable coin UND without any interest by locking your Liquidity Pool Tokens(LPT).
2. No Liquidation. The LPTs that you lock with Unbound wont be liquidated. LPTs are way more stable than a single crypto asset since LPTs that we whitelist will consist of 50% stable coin.
We have a simulation of how we enable no liquidation even after considering impermanent loss along with our break-even formulae on our whitepaper. Feel free to go through it.
[https://docs.unbound.finance/no-liquidations-in-unbound-explained]
[https://docs.unbound.finance/simulating-impermanent-loss]
Thank you for sharing in segment 2 of the AMA. Through this segment, I believe that everyone has had a more detailed view of the project, its plans and future development directions.
Yeah. And now, we’ll move to the exciting segment in this AMA: live Q&A
In this segment, the chat will be open in 1 minute to receive questions from community
Kindly pick 5 ones to answer @cryptomathemagician
Tag: Wow, so many questions here
I believe that Vietnamese members would love to know more about Unbound Finance
Unbound: Can we ask all these members to first join our group before we pick up 5 questions?
We would love to get this community support
Tag: Yeah, you can do it
Hey community,
Kindly join here for being eligible to be selected questions
Unbound: Twitter : https://twitter.com/unboundfinance
Telegram Global : https://t.me/unboundfinance
Telegram Announcement : https://t.me/UnboundAnnouncements
Telegram Vietnam : https://t.me/unboundfinancevietnam
Tag: Partnership is one of the most important aspects of a project’s success. So, do you intend to work together on large-scale projects in the near future?
Unbound: We have entered into a partnership with Polygon, Tomochain, C98, Enjin, Harmony, Curve, Gnosis, Frontier, Zilliqa, Kyber, Fantom, Swissborg, Gnosis and many more along with some exciting Play 2 earn games as well.
Tag: Do you plan to build partnerships with local cryptocurrency developers project in each country to make your Project more global ?
Unbound: Yes. We have our advisors and partners from all across the globe. We have a very strong community in India, Vietnam, China, Korea, US and some European countries. If you look at our advisors, they are spread out across the globe. We are creating a cross-chain decentralized stable coin so it is extremely important for us to have a global presence. Below is a list of some of our investors and advisors:
We have raised funds through a series of Angels like
Naval Ravikant – Founder Angelist
Sandeep Nailwal – Co-founder and COO of Polygon,
Maxim Blagov – Co-founder and CEO of Enjin,
Thanh Le – Founder of Coin98,
Stefan George – Co-founder and CTO of Gnosis,
Ninor Mansor – Partner at Arrington XRP Capital
Loi Luu – Founder & CEO of Kyber Network,
Amrit Kumar – President at Zilliqa,
Sahil Dewan – Co-founder of Harmony,
Long Vuong – Founder and CEO of TomoChain,
Jack Herrick – Founder of Wikihow,
Daniel Stockhaus – Co-founder of Polkastarter
Julien Bouteloup – Founder of Stake Capital and Curve Finance Core Team Member
Barek Sekandari – COO of Fantom
Thomas Bailey – General Partner of Bitriver
and some major VCs like Pantera, XRP Arrington Capital, Hashed, CMS, Hashkey, etc
Tag: Can you list 2 great features of Unbound that Unbound feels most confident in?
Unbound: Yes. Two of the most important feature of Unbound are:
1. Debt-free borrowing – Borrow our Decentralised Stable Coin without any interest.
2. No Liquidation Engine – Lend your LPTs as collaterals without the risk of getting liquidated
Tag: I want to support your project, Tell us more about the Ambassador Program and in what ways can we participate ?
Unbound: Feel free to join our community. We will continue rewarding our community members who show us support throughout our journey. You can join our community and the more active you are in the community, the higher the chances that you have to become Mods and Ambassadors of Unbound
Tag: How is project development going? Can you describe in detail current development efforts, market expansion plans, expected applications, and when will they become commercially available?
Unbound: We have a working product live and running since the past 6 months. You all are welcome to try out our product to see how easy it is to lock up your LPTs and mint our Stable coin.
Ethereum – [https://zeta.unbound.finance/](https://zeta.unbound.finance/)
Binance Smart Chain – [https://bsctestnet.unbound.finance/](https://bsctestnet.unbound.finance/)
Polygon – [https://polygon-testnet.unbound.finance/](https://polygon-testnet.unbound.finance/)
Uniswap V3 – [https://v3.unbound.finance/](https://v3.unbound.finance/)
We have more than 5000 testnet users. We request and invite all community members to use our testnet and share their feedback with us. You can request our test tokens from the faucets in the testnet.
Faucet :
[https://testnet.unbound.finance/faucet]
[https://bsctestnet.unbound.finance/faucet]
[https://polygon-testnet.unbound.finance/faucet]
Tag: Thanks so much for the detailed answers @cryptomathemagician
On behalf of TAG, I hope that Unbound Finance will always develop constantly and have the trust and support of users in Vietnam in particular and globally in general.
Hopefully TAG will be a partner with Unbound Finance’s long-term development
Unbound: Thank you so much for your time TAG team. You guys are the best! It was great to interact with your awesome community
Please continue supporting Unbound Finance !
Twitter : https://twitter.com/unboundfinance
Telegram Global : https://t.me/unboundfinance
Telegram Announcement : https://t.me/UnboundAnnouncements
Telegram Vietnam : https://t.me/unboundfinancevietnam
Join our channels to stay up to date with the Public sale and pre-sale announcements
Tag: Of course! Unbound Finance is one of the best projects ever I’ve known
Again, thanks for taking your time and share with us so amazing news
Thanks you all for joining AMA today.
On the Sep 5th 2021, TAG community has a Telegram AMA with Unbound Finance
At the AMA: Mr. Tarun Jaswani – Founder & CEO of Unbound Finance, Mr. Pratik Oswal – CMO of Unbound Finance, introduced and shared many interesting information about Unbound.
The AMA would be happened as follows
Segment 1: Warm up.
Segment 2: Answer the questions from twitter (5 questions)
Segment 3: Live Q&A session (5 questions)
And now we will start the AMA with segment 1: Warm up
Tag: Hello everyone, welcome to excited AMA session between TAG Ventures and Unbound Finance
Please welcome our special guests today:
Mr. Tarun Jaswani – Founder & CEO of Unbound Finance
Mr. Pratik Oswal – CMO of Unbound Finance
Hello @cryptomathemagician @Meethlaksh
Are you ready for our AMA today?
Unbound: @cryptomathemagician Excited and looking forward for the AMA with the amazing community of TAG!
@Meethlaksh Yes we are ..Happy to have an opportunity to have our first AMA with Vietnamese Crypto Community
Tag: Yeah. It’s so great to have you here to share with us about Unbound Finance.
Thanks a lot!
First, could you please introduce your team and Unbound Finance?
Unbound: @cryptomathemagician We have over 20 members in our team. We will quickly introduce ourselves here.
I was working for 4 years with Stanford University’s Highwire Press post which I was leading an ed-tech startup.
In the crypto space, I have been a blogger and the Chief Technical Analyst at a leading Crypto Media House. I have written over 200 articles on project reviews and have been a strategic advisor and investor in over 50 projects. I am the CMO at Unbound Finance
@Meethlaksh We have over 20 members in our team and growing rapidly
Little about me
I was building an AD Network for VR apps and working closely with companies like Unity, Steam, Etc. I discovered Blockchain in 2016-2017 and went all in 🙂 Established a Family office, attended conferences and travelled the whole world understanding how each community was treating this technology. Being a coder helped me look under the hood and figure the next fundamental shift. I started building Unbound early last year, once I realized that AMMs will be zero to one innovation in this space. I am the Founder & CEO of Unbound Finance.
Unbound Finance:
Unbound Finance is a decentralized, non-custodial platform that is building a derivative layer over the existing AMMs and aggregates these AMMs with a view to increasing the overall capital efficiency of the Defi space. Liquidity providers can compound their earnings by leveraging their LP tokens to mint UND (decentralized, cross-chain, stablecoin soft pegged to the US dollar) and uETH. The protocol is characterized by several unique features, some of which include:
Get Liquidity Without Removing Assets From Liquidity Pool
Users can keep their liquidity on a DEX in a liquidity pool and still have additional stablecoins to trade on different AMMs. For example, if a user has $10,000 locked in the $USDT-$USDC pool on Uniswap, that user can lock up their LPTs on Unbound and mint stable coins ($UND) worth $8,000 on BSC to trade on PancakeSwap while the users liquidity is still on Uniswap thereby enjoying the benefits of fee on Uniswap and having enough liquidity to trade on PancakeSwap. This way Unbound will be able to move liquidity from AMMs across different chains to PancakeSwap and vice versa without physically removing liquidity. Similarly, we support different AMMs across Ethereum, Polygon, BSC, Harmony and many other are in the process like OKEx chain, Klaytn, HECO Chain, Solana, etc.
Debt-Free Borrowing
The protocol charges no interest on loans taken out by the liquidity providers. To redeem their loan, they simply repay the amount of UND or uETH they borrowed to retrieve their collateral (i.e. their LP tokens).
Liquidation-free Collateralization
Unbound completely nixes the liquidation engine seen with more collateralized lending platforms. As a result, users do not need to concern themselves with the potential liquidation of their collateral. Instead, Unbound uses SAFU, an emergency insurance fund, to secure the collateralized assets of borrowers during so-called ‘black swan’ events.
Perpetual Borrowing
At Unbound, loans have no fixed repayment deadline. Users can unlock their collateralized assets any time by paying back the outstanding debt — without any restrictions.
The UND Stablecoin
Unbound Finance’s first product is the cross-chain, decentralized stablecoin known as UND. It is an ERC-20 token soft-pegged to the US dollar and backed by user deposits.
Tag: And the second question is:
What are the competitive advantages of Unbound Finance compared to other projects?
Unbound: @Meethlaksh One of our biggest value add is the no liquidation engine, which is a inherent approach to collateralization in the blockchain space.
In terms of competition, you can visit the last part of the article published by CoinMarketCap when they did a deep dive tech analysis on Unbound.
[https://coinmarketcap.com/alexandria/article/what-is-unbound]
Tag: Great! We’ve translated this article already
And now please share with us some new upcoming events, as well as big partners Unbound Finance has been working with during its development period.
Unbound: @cryptomathemagician Our Ethereum, Binance Smart Chain, Polygon and Harmony Testnets are live and we will be going live with the mainnet in the coming few weeks on all these chains along with integrations with other chains. You can review our detailed roadmap here :
[https://unboundfinance.medium.com/unbound-finance-roadmap-6acaf40f878e]
We have already signed up an agreement with major protocols for adoption which include Polygon, Tomochain, C98, Enjin, Harmony, Curve, Gnosis, Frontier, Zilliqa, Kyber, Fantom, etc. All of these projects will be launching their tokens with our stable coin which will lead to a huge adoption since these projects have been around for a very long time and proven us how strong they are. We have access to their whole community.
Along with this answer, segment 1 of the AMA has been closed. I think people have had an overview of your team and Unbound Finance
To go into more detail, we’ll come to segment 2: Answer the questions from twitter (5 questions)
Before moving to this segment, I would like to remind the tasks of this AMA.
Kindly join/follow Unbound Finance’s media social channels here
Twitter : https://twitter.com/unboundfinance
Telegram Global : https://t.me/unboundfinance
Telegram Announcement : https://t.me/UnboundAnnouncements
And don’t forget to join Unbound Vietnam Telegram for update: https://t.me/unboundfinancevietnam
Tag: The first question of this segment is:
Can you tell me about security? Are you done auditing the platform? Is there any error in the smart contract? How is the test result?
https://twitter.com/jungbogo7
Unbound: @cryptomathemagician Since the launch of Unbound in 2020, we have achieved major milestones followed by a series of transitions and developments. Our platform has undergone robust verification and validation processes performed by some of the best industry auditors.
1. Our first security audit and threat modeling exercise ([STRIDE] was done by [Peter Kacherginsky], a principal blockchain security researcher with a major crypto exchange and incident responder who helped us in identifying the threats such as flash loan attacks in our platform’s infrastructure and successfully executed our first audit.
2. The second audit was completed with [Securing], who reproduced the flash loan attack threat as pointed out by [Peter Kacherginsky] during the first audit. We resolved the issue by adding a [block limit lock mechanism] and implementing a new [oracle structure].
As per the block limit mechanism, any interaction with our smart contract will lead to locking up the SC for 3–5 blocks with respect to the address used. This will disable minting and unlocking to be performed in the same block, eventually mitigating any flash loan attack scenarios. The block limit can be changed or removed as per requirements.
As a part of the new price oracle solution for Unbound, we decided to use a geometric mean of Chainlink and Uniswap’s TWAP to provide a more accurate price feed and to reduce dependency on a single price oracle.
3. The Third audit was recently conducted by Whitehat [Lucash-dev], a recipient of the [Whitehat Scholarship] at [Immunefi], one of the highest-paid bug bounty hunters at [Hackerone].
Once we implement the learnings from the Sandbox Mainnet Launch, we have planned to include yet a few smart contract audits and launch a bug bounty program.
Tag: The 2nd question is:
What makes Unbound Finance different from other DeFi solutions like Uniswap or PancakeSwap? And what is your strategy for liquidity management for users on Uniswap V3?
https://twitter.com/ainaa_baby
Unbound: @cryptomathemagician Firstly, we aren’t a swap. We are a derivative layer on top of other existing swaps(DEXs). So more AMMs that we get in the space, the better for us as it provides more Liquidity for Unbound Finance and makes this whole space more capital efficient. So any swap is not a competition for us but rather beneficial for us as well as for them.
We have built a solution for Uniswap v3 which is called as DefiEdge. DefiEdge is a decentralised hedge fund management protocol built on Uniswap v3 where users assets will be managed by professional strategy managers. In fact, our Uniswap v3 test net was also covered in the Uniswap v3 whitepaper where they mentioned Unbound as a top community project built on Uniswap v3. Liquidity providers on Uniswap v3 can leverage their liquidity by locking it up on Unbound and minting our decentralised cross chain stable coin UND.
Tag: And the 3rd question is:
Will there be a public offering for Unbound? How to get tokens in the fastest way in the early bird? What are incentives of $UNB Token bring to community and investors?
https://twitter.com/girlofcrypt/status/1433678255836467208
Unbound: @cryptomathemagician Yes. We will be having a public sale very soon. The details of the public sale will be announced to the public. You can join our Telegram and Twitter channel to get the updates about the public sale.
We are already in conversation with some of the biggest launchpad platforms on centralised exchanges for an IEO. Along with that, we have investments from the major IDO platforms like Polkastarter, DAO Maker, Trustpad, etc.
Twitter : [https://twitter.com/unboundfinance]
Telegram Global : [https://t.me/unboundfinance]
Telegram Announcement : [https://t.me/UnboundAnnouncements]
Telegram Vietnam: [https://t.me/unboundfinancevietnam]
Telegram Korea: [https://t.me/unboundkorea]
Tag: The 4th question is:
What is the business model of the project? How does it work?
Who are your prospects and what markets are you targeting?
https://twitter.com/mandookkk/status/1433657530689810438
Unbound: @cryptomathemagician Unbound charges a 0.6% minting fee whenever someone locks up their liquidity pool tokens and mints UND (Stablecoin). 20%(0.12%) of this fee goes to Unbound. We are targeting the $40 billion AMM market at present. As per our projections, the AMM (DEX) space will be at $300 billion valuation in the next 3 years. If we can capture 5% of this liquidity in 3 years, we can lock up $15 billion from AMMs across multiple chains in Unbound. At an average 50% Loan-to-value, that would issue $7.5 billion worth of UND generating a total fee of $45 million. Of this $45 million, $9 million would be parked with Unbound. This is considering a single transaction. Considering an average of 10 transactions by users (locking and unlocking) over 3 years, this fee would go up to $90 million.
At 10% market capture, this fee goes up to $180 million.
At 15% market capture, this fee goes up to $270 million.
At 1% market capture, this fee goes up to $18 million.
Apart from this, 40% of the minting fee will be deployed in SAFU funds which would be used for Liquidity Mining.
Tag: And the last question of this segment is:
Can you explain how the UNBOUND team managed to solve the Liquidation problem? Do you expect this solution method to be an example for other projects?
https://twitter.com/MsNazmul4/status/1433660220207628288
Unbound: @cryptomathemagician Two of the prime features of Unbound which distinguishes us from any other project is :
1. Debt-free borrowing. You can borrows our decentralised cross chain stable coin UND without any interest by locking your Liquidity Pool Tokens(LPT).
2. No Liquidation. The LPTs that you lock with Unbound wont be liquidated. LPTs are way more stable than a single crypto asset since LPTs that we whitelist will consist of 50% stable coin.
We have a simulation of how we enable no liquidation even after considering impermanent loss along with our break-even formulae on our whitepaper. Feel free to go through it.
[https://docs.unbound.finance/no-liquidations-in-unbound-explained]
[https://docs.unbound.finance/simulating-impermanent-loss]
Thank you for sharing in segment 2 of the AMA. Through this segment, I believe that everyone has had a more detailed view of the project, its plans and future development directions.
Yeah. And now, we’ll move to the exciting segment in this AMA: live Q&A
In this segment, the chat will be open in 1 minute to receive questions from community
Kindly pick 5 ones to answer @cryptomathemagician
Tag: Wow, so many questions here
I believe that Vietnamese members would love to know more about Unbound Finance
Unbound: Can we ask all these members to first join our group before we pick up 5 questions?
We would love to get this community support
Tag: Yeah, you can do it
Hey community,
Kindly join here for being eligible to be selected questions
Unbound: Twitter : https://twitter.com/unboundfinance
Telegram Global : https://t.me/unboundfinance
Telegram Announcement : https://t.me/UnboundAnnouncements
Telegram Vietnam : https://t.me/unboundfinancevietnam
Tag: Partnership is one of the most important aspects of a project’s success. So, do you intend to work together on large-scale projects in the near future?
Unbound: We have entered into a partnership with Polygon, Tomochain, C98, Enjin, Harmony, Curve, Gnosis, Frontier, Zilliqa, Kyber, Fantom, Swissborg, Gnosis and many more along with some exciting Play 2 earn games as well.
Tag: Do you plan to build partnerships with local cryptocurrency developers project in each country to make your Project more global ?
Unbound: Yes. We have our advisors and partners from all across the globe. We have a very strong community in India, Vietnam, China, Korea, US and some European countries. If you look at our advisors, they are spread out across the globe. We are creating a cross-chain decentralized stable coin so it is extremely important for us to have a global presence. Below is a list of some of our investors and advisors:
We have raised funds through a series of Angels like
Naval Ravikant – Founder Angelist
Sandeep Nailwal – Co-founder and COO of Polygon,
Maxim Blagov – Co-founder and CEO of Enjin,
Thanh Le – Founder of Coin98,
Stefan George – Co-founder and CTO of Gnosis,
Ninor Mansor – Partner at Arrington XRP Capital
Loi Luu – Founder & CEO of Kyber Network,
Amrit Kumar – President at Zilliqa,
Sahil Dewan – Co-founder of Harmony,
Long Vuong – Founder and CEO of TomoChain,
Jack Herrick – Founder of Wikihow,
Daniel Stockhaus – Co-founder of Polkastarter
Julien Bouteloup – Founder of Stake Capital and Curve Finance Core Team Member
Barek Sekandari – COO of Fantom
Thomas Bailey – General Partner of Bitriver
and some major VCs like Pantera, XRP Arrington Capital, Hashed, CMS, Hashkey, etc
Tag: Can you list 2 great features of Unbound that Unbound feels most confident in?
Unbound: Yes. Two of the most important feature of Unbound are:
1. Debt-free borrowing – Borrow our Decentralised Stable Coin without any interest.
2. No Liquidation Engine – Lend your LPTs as collaterals without the risk of getting liquidated
Tag: I want to support your project, Tell us more about the Ambassador Program and in what ways can we participate ?
Unbound: Feel free to join our community. We will continue rewarding our community members who show us support throughout our journey. You can join our community and the more active you are in the community, the higher the chances that you have to become Mods and Ambassadors of Unbound
Tag: How is project development going? Can you describe in detail current development efforts, market expansion plans, expected applications, and when will they become commercially available?
Unbound: We have a working product live and running since the past 6 months. You all are welcome to try out our product to see how easy it is to lock up your LPTs and mint our Stable coin.
Ethereum – [https://zeta.unbound.finance/](https://zeta.unbound.finance/)
Binance Smart Chain – [https://bsctestnet.unbound.finance/](https://bsctestnet.unbound.finance/)
Polygon – [https://polygon-testnet.unbound.finance/](https://polygon-testnet.unbound.finance/)
Uniswap V3 – [https://v3.unbound.finance/](https://v3.unbound.finance/)
We have more than 5000 testnet users. We request and invite all community members to use our testnet and share their feedback with us. You can request our test tokens from the faucets in the testnet.
Faucet :
[https://testnet.unbound.finance/faucet]
[https://bsctestnet.unbound.finance/faucet]
[https://polygon-testnet.unbound.finance/faucet]
Tag: Thanks so much for the detailed answers @cryptomathemagician
On behalf of TAG, I hope that Unbound Finance will always develop constantly and have the trust and support of users in Vietnam in particular and globally in general.
Hopefully TAG will be a partner with Unbound Finance’s long-term development
Unbound: Thank you so much for your time TAG team. You guys are the best! It was great to interact with your awesome community
Please continue supporting Unbound Finance !
Twitter : https://twitter.com/unboundfinance
Telegram Global : https://t.me/unboundfinance
Telegram Announcement : https://t.me/UnboundAnnouncements
Telegram Vietnam : https://t.me/unboundfinancevietnam
Join our channels to stay up to date with the Public sale and pre-sale announcements
Tag: Of course! Unbound Finance is one of the best projects ever I’ve known
Again, thanks for taking your time and share with us so amazing news
Thanks you all for joining AMA today.