Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Polygon MATIC Forum => Topic started by: RSRS on August 16, 2021, 02:44:49 PM
-
Unbound Finance and Polygon will launch the first-ever cross-chain stablecoin to increase liquidity on AMMs.
With Unbound, users can work on existing liquidity pool tokens.
Polygon has been assisting Unbound since its testnet launch in late last year.
UND stablecoin creator Unbound Finance is partnering with Ethereum scaling solution Polygon to increase liquidity on AMMs based on Polygon.
In an effort to make AMMs more capital efficient, Unbound Finance will be launching the stable coin UND. It is the first cross-chain decentralized stable coin. This will be based on the Polygon network. Added to this, the Unbound Finance governance token UNB will also be tradeable on Polygon-based DEXes.
With Unbound Finance, users can collateralize their existing liquidity pool tokens on AMM-based DEXes like Dfyn, PancakeSwap, and Uniswap. These LPTs can mint the UND stablecoin.
Further, Polygon has worked with Unbound since it launched its testnet late last year. Polygon provided support to launch the network and introduce the key AMM partners to enable capital efficiency. Discussing the two companies’ new venture, Polygon COO Sandeep Nailwal said:
More information (https://cryptonews.net/en/news/defi/1433107/)
-
Polygon Matic is really progressing now because I see Polygon Matic is very capable of changing its vision and mission to be different from the others and even able to compete with Chainlink.
I am also sure that Polygon Matic will continue to be in the cryptocurrency environment and I am also sure that one day Matic will be exactly like Ethereum which is able to be at a price of 10 USD.
I mean, Unbound Finance is perfectly positioned on the Matic blockchain as a stable coin and I'm sure Unbound Finance will be successful in the future.
-
There are a lot of stable coins from Matic and this is really good for Matic to be able to increase the money from Matic because Matic also needs stable coins to support the price so that a severe dump does not occur.
But if I read this article, I don't pay much attention to Unbound because when compared to the market cap of USDC, BUSD and USDT, the market for these three stable coins is already huge.
-
Unbound Finance may be very supportive for stable coins but in various cryptocurrency platforms it definitely needs a few features to be able to survive in the Cross-chain environment of Polygon Matic.
This will definitely continue to strengthen the ecosystem of Polygon Matic because I believe that in the future Polygon Matic will provide a very good glimmer of hope for Unbound Finance in terms of stable coins.