Pantera Capital and Arrington XRP Capital Back DeFi Project Unbound in $5.8 Million Round

The digital-asset managers at Pantera Capital and Arrington XRP Capital led the funding round for the DeFi project Unbound Finance worth $5.8 million.

We are thrilled and excited to declare that we are backed by the Titans of this industry.

Presenting the dream team!https://t.co/D7BOrDcq8H

— Unbound (@unboundfinance) June 10, 2021

The round drew participation from venture firms including CMS Holdings, Hashed, LedgerPrime, LD Capital, TRGC, ArkStream Capital and ZeePrime Capital.

The statement said Unbound aims to create ‘products for efficient capital growth, both native and composite for the DeFi ecosystem’.

The protocol offers interest-free loans in its own stablecoin UND and other synthetic assets, collateralized by tokens in the liquidity pool, and enables earning yields by locking funds in it.

Unbound uses an automated market maker (AMM) mechanism. The project runs on Ethereum and is pursuing strategic partnerships with the Binance Smart Chain, Polygon and Harmony networks, and plans to support integration with PancakeSwap, DFYN, SeeSwap and other AMM platforms.

Funding will be directed toward protocol development, including expanding the team, conducting audits, ensuring liquidity and developing new products.

As previously reported, Pantera Capital led the $6 million funding round for the Liquity Protocol lending platform. The firm became a participant in a $10 million investment round for Injective Protocol.

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