Unbound Finance Partners with DFYN for New DeFi Yield Prospects

With DeFi competing with traditional finance, Unbound Finance is set to give the industry another boost. The venture recently announced a partnership with DFYN to do so.

The collaboration will see Unbound Finance and DFYN exploring new yield opportunities for DeFi users, and their primary focus will be on customers within the Polygon ecosystem. Both projects believe that the DeFi sector still has to work towards improving its capital usage.

The partnership will see DFYN allowing its liquidity providers of USDC – USDT to collateralize their tokens. The liquidity providers can borrow stablecoins-based loans of up to 80% of their collateralized value. 

The loans will be provided in UND tokens at the initial stage. As the native stablecoin of Unbound, the loans will be provided at 0% interest and no collateral liquidation risk. It will allow the LPs to enjoy a passive DeFi earning without unnecessary risks.

Moreover, users can also stake their existing collateralized liquidity provider tokens back in USDC – USDT yield farming pools, and it will help them earn significantly high APYs. As a result, users will reap benefits from yield farming even with their assets staying locked at Unbound. 

Lastly, the partnership will allow DFYN to support the UND – USDC pool. It will incentivize users with premium rewards in the form of DFYN tokens, and it will add liquidity to the platform while also amplifying the capital efficiency.

As a decentralized cross-chain lending platform, Unbound Finance is helping projects unlock trapped liquidity in automated market makers and DEXs. In addition, the platform allows this liquidity to flow through different chains.

On the other hand, DFYN is a multi-chain gasless AMM. It is ranked among the top decentralized exchanges on the Polygon network. It improves efficiency, facilitates price discovery, and accelerates cross-chain operability. As both platforms have a robust stature in the market, the collaboration is expected to produce concrete results.

This news is republished from another source. You can check the original article here

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