Enjin Gradient Hero
English
June 22, 2021

Enjin Invests in Unbound Finance to Bring UND Stablecoin to Efinity and Polkadot

Enjin has invested in Unbound Finance to increase liquidity on its upcoming blockchain for non-fungible tokens (NFTs), Efinity.
Download Press Release
Back to Press Center
Enjin Invests in Unbound Finance to Bring UND Stablecoin to Efinity and Polkadot

22 June 2021 — Leading non-fungible token (NFT) ecosystem developer Enjin has invested in Unbound Finance to increase liquidity on Efinity, Enjin’s upcoming NFT parachain built on Polkadot. 

The move comes after Unbound recently announced a $5.8M investment round from Pantera Capital and Michael Arrington, founder of TechCrunch, among a host of other leading venture capital firms.

Maxim Blagov, CEO of Enjin said, “Unbound is exploring an innovative new form of lending that allows yield farmers to convert their collateral into UND, which they will be able to spend on Efinity. Working with Unbound will help ensure persistent liquidity on Efinity and enable DeFi participants to enjoy opportunities within Enjin’s growing NFT ecosystem.”

Tarun Jaswani, Founder and CEO of Unbound Finance said, “We have built UND to be one of the most decentralized stablecoins on the market. With strong fundamentals, Efinity users will leverage the benefit of a fast, borderless stablecoin which will act as a great fiat on and off-ramp bridge. UND will also open up the benefits of defi through Unbound.Finance.”

Through Unbound Finance, yield farmers can use liquidity pool tokens created from providing liquidity to Uniswap, for example, and use them as collateral on the Unbound platform to gain UND. This UND can then be used to purchase NFTs on the Efinity network.

Unbound, the creator of the decentralized UND stablecoin, is already integrated with 12 automatic market makers platforms, including Uniswap, PancakeSwap, SushiSwap and Balancer.

Enjin has been working alongside Unbound since the launch of its, and UND is slated to be among the first decentralized stablecoins on Efinity, Enjin’s upcoming cross-chain network that will support NFTs from any blockchain. 

Key features of Unbound include:

  • Liquidation-free liquidity provision system
  • A no-debt position created when assets are minted
  • Decentralized stablecoin UND, and other synthetic assets such as uETH 
  • Liquidity Lock contracts designed to be permissionless and support AMMs like Uniswap, Balancer, and Mooniswap
Thank you! Please check your email.
Oops! Something went wrong while submitting the form.
Download the Enjin Wallet
Google Play Logo App Store Logo
Join the movement to decentralize the Metaverse
By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Policy for more information.