TL;DR Breakdown
- Pantera Capital and Arrington XRP Capital have co-led the Unbound Finance initiative.
- Around $8.5 million in investment was generated by Unbound Finance.
- Unbound Finance aims for the creation of the first cross-chain stablecoin platform.
Unbound Finance is one of the most promising upcoming Decentralized Finance projects and seeks to revolutionize the entire crypto market. The aim of this organization is to lead the creation of the first cross-chain stablecoin and it has already taken the first step towards its goal. Pentera Capital and Arrington XRP Capital together held a private investment round for this organization and the results were fabulous.
It was seen that the entire round raised around $8.5 million for the organization which can prove heavily beneficial for Unbound Finance. this project seems to have a one-of-a-kind potential with the aim of creating a decentralized finance treasury arrangement for pooled tokens. Pooled tokes are unique as they can be moved, exchanged, or even used in other decentralized applications.
The investment is beneficial for Unbound Finance
The investment round was held privately and led by two of the biggest asset managers in the entire world. The result was clear. The $8.5 million fund would be used to develop the coming stablecoin platform. Also, there are talks about building a bridge. This bridge will be responsible for facilitating instant transfers between various chains supporting native coins with the native coin of Unbound Finance, the UNB.
Unbound Finance will also work and improve a very fresh concept of a “liquidation-free collateralization platform”. One can figure out from the name itself that this platform will provide the users a chance to gain loans. These loans will be taken by submission of tokens and crypto as collateral. This is indeed a new concept that has the potential for countless applications.
Dan Morehead, the CEO of Pantera Capital claims that the potential that Unbound Finance has in its fundamentals is unmatched. He expects a lot from this platform and a lot of progress is waiting for the platform.
The recent drop in the prices of Bitcoin and altcoins hasn’t deterred any investor or organization from working on their projects. Although the crypto market is down, it is a common fact that it won’t die out but is rather just starting its course. With projects like these, we can expect a huge amount of traffic in the blockchain world in the near future and of course, massive adoption.
