Unbound Finance via an official blog post announced a new strategic partnership with Avalanche to boost liquidity on its AMMs. As a result of the integration, Unbound will boost liquidity and improve capital efficiency on all Avalanche-based AMMs.
According to the announcement, the integration will also provide new alternatives of higher revenue-generating opportunities for Avalanche users. Also, the partnership will allow inter-blockchain operability and profitability through the use of Unbound cross-chain stablecoin (UND).
Furthermore, as a result of the collaboration, Unbound will launch its stablecoin (UND) on the Avalanche network. Also, Unbound Finance governance token (UNB) will be available to trade on Avalanche.
Tarun Jaswani, Unbound Finance founder and CEO in a statement expressed delight in the partnership and growth of the project. He said, “We have designed UND as a promising cross-chain, yield generating vehicle in the fast-growing DeFi sector, one that will be pivotal in unlocking the liquidity trapped in DeFi AMMs, making them a lot more capital efficient.”
Unbound Finance Taps Kyber Network’s Liquidity Protocol
Also, Unbound Finance announces a new strategic partnership with Kyber network via its official Twitter handle. The collaboration will let Unbound utilize Kyber Network’s latest liquidity protocol KyberDMM DEX, to ensure liquidity providers maximize capital.
According to the announcement, $UND traders on KyberDMM DEX get better rates on Ethereum compared to trading on individual DEXs. Kyber’s new dynamic trade routing feature will allow Unbound traders on KyberDMM DEX to receive better rates and maximize capital.
Kyber connects liquidity from various protocols. Unbound said they like Kyber’s platform security. ChainSecurity does their network audit and Unslashed Finance insures them.
Also, other reasons for the partnership are the dynamic fees that monitor market conditions and high reward liquidity pools.
Meanwhile, Unbound Finance announces via its official Twitter handle it has surpassed $10 million in TVL on KyberNetwork’s DMM. “This is the first step of the 100 step milestone towards $1 billion in TVL,” it noted.
KNC, AVAX Price Update
Kyber’s native token (KNC) has dropped by 3.9% on the day at the time of publication. It was changing hands for $1.69, down from a daily high of $1.80.
Over the past seven days, KNC has slumped by a whopping 10.9%. The all-time high for the token came months ago, April 22, when prices topped $2.93.
Meanwhile, Avalanche’s AVAX is experiencing a better run as the token rallied by a whopping 40% in the last 7 days. It was trading at $136.32, on the out with a market cap of $29.6 billion.
