insurance

Two DeFi projects tasked with helping traders in the space hedge risk announced they are shutting down on Saturday.   Cover, an insurance protocol, and Ruler, a debt market without liquidations, lost their developer team and determined that they could not continue, according to a blog post authored by a cofounder of both projects who goes…

In this tutorial we demonstrate how to get insurance on your deposits on Anchor Protocol with Nexus Mutual, Bridge Mutual, and InsurAce.

InsurAce, the Singapore-based insurance protocol, raised $3M in a token-based funding round led by Alameda Research and HashKey Capital. Investors from the project’s $1M seed round, DeFiance Capital, ParaFi Capital, Hashed and Signum Capital, also participated. The round was completed with institutional investors, including, IOSG Ventures, ImToken Ventures, LongHash Ventures, HashGlobal, Tembusu Partners, Factorial Ventures,…

Last week’s Yearn Finance hack has a DeFi user wrestling with an insurance protocol over a $1.7M claim. Twitter user kferretcrypto, who bought a claim provided by Nexus Mutual, an insurance protocol, in September, tweeted on Feb. 6 that the Yearn hack triggered a 1,000 Ether payout (or about $1.7M), by ArmorFi, an insurance aggregator…

Cryptocurrency investors are now able to buy insurance on centralized exchange deposits via  Nexus Mutual. Mutual members who have verified their identity with Nexus can purchase insurance claims on select centralized custodians including Celsius, BlockFi, Nexo, inLock, Ledn and Hodlnaut.  NXM holders are also able to stake tokens on behalf of these custodians, essentially stating…

After a series of flash loan attacks where DeFi protocols lost $100M in damages, Yearn acquired Cover Protocol to provide decentralized insurance. The project pays out claims from exploits or certain attacks on smart contracts, using a the  Snapshot voting tool to decide coverage. The claim will move to its Claim Validity Committee (CVC) to…

Today’s guest post starts with a great question: Why do we still use banks? If you’re reading this newsletter, it’s likely you agree with me and the author that the current financial system is a relic and you know there’s a better alternative being built. So why aren’t savers taking their money from bank vaults…