Digital asset managers Pantera Capital and Arrington XRP Capital have led a $5.8m funding round for DeFi project Unbound Finance.
We are thrilled and excited to declare that we are backed by the Titans of this industry.
— Unbound (@unboundfinance) June 10, 2021
Presenting the dream team!https://t.co/D7BOrDcq8H
Venture capital firms including CMS Holdings, Hashed, LedgerPrime, LD Capital, TRGC, ArkStream Capital and ZeePrime Capital participated in the round.
According to the statement, Unbound aims to create "efficient capital growth products, both native and bundled for the DeFi ecosystem".
The protocol provides interest-free loans in UND's own Stablecoin and other synthetic assets, secured by tokens in a liquidity pool and allows it to generate income by locking in funds.
Unbound uses an automatic market maker (AMM) mechanism. The project is powered by Ethereum and seeks strategic partnerships with Binance Smart Chain, Polygon and Harmony networks, and plans to support integration with PancakeSwap, DFYN, SeeSwap and other AMM platforms.
Unbound will use the funding to develop the protocol, including expanding the team, auditing, providing liquidity and developing new products.
As a reminder, Pantera Capital previously invested in DeFi projects and led a $6m funding round for the Liquity Protocol lending platform. The company was also part of a $10m investment session for Injective Protocol.
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