In the latest in a lineup of great partnerships, InsurAce.io is proud to announce a new partnership with Mushrooms Finance, offering insurance services to the users of Mushrooms to protect their DeFi assets.
Mushrooms Finance is a crypto earning vault focussed on seeking sustainable profit in the DeFi universe.
The first version of the Mushrooms Finance smart contracts were inspired by other popular DeFi projects like Yearn Finance (YFI) and Sushiswap among many others. Mushrooms Finance Vaults help you earn passive profit on crypto assets like WETH/WBTC/DAI/USDC, etc.
Users of Mushrooms.finance can now purchase insurance via app.insurace.io for a low annual premium of 4.48%. They can select the amount of coverage they wish to purchase via the app, and for the length of time they wish the protection to be in place.
The team behind Mushrooms have committed to purchase $400,000 of cover to further protect the protocol and its users in the event of an attack.
“We are so delighted and proud to collaborate with InsurAce.io. Huge thanks to InsurAceio team for all the support. Mushrooms always want to shield our users against potential risk in DeFi. Security is always №1 top priority on our mind. Partnering with a leading insurance protocol like InsurAce.io would definitely help us to achieve this goal. We believe this partnership will help our users to safely invest crypto and earn profit in DeFi Universe and gain protection in event of unforeseeable risks.” Mando from Mushrooms
“Mushrooms is a great yield vault, offering its users high returns on some great assets. We are pleased to be able to offer insurance to Mushrooms users and protect their crypto gains via our insurance services at InsurAce.io. Furthermore, it is fantastic when we see protocols committing to security by purchasing cover for their own assets and the protocol on the whole which helps to stabilise DeFi and offers extra levels of security in the ecosystem.” Oliver Xie, founder of InsurAce.io
Mushrooms Finance is yet another crypto earning vault with focus on seeking sustainable profit in DeFi universe. The first version of the Mushrooms Finance smart contracts were inspired by other popular DeFi projects like Yearn Finance (YFI) and Sushiswap among many others. Mushrooms Finance Vaults help you earn passive profit on crypto assets like WETH/WBTC/DAI/USDC, etc. For example, the earning strategies associated with the Vaults will automate your yield farming on Alchemix or Curve by auto-compounding the profit. Vaults earn in the denomination of whatever token you deposited. You will receive mTokens upon Vault deposit which represent your share in that Vault. When you withdraw from the Vault, the mToken share allows you withdraw both principle plus earned profit over the deposit period.
Total Value Locked $12m
Built on Ethereum
InsurAce.io Protocol is a DeFi Insurance protocol that has quickly become the second-largest protocol in DeFi insurance. The INSUR token was released in February 2021 and has a circulating supply of 11 million INSUR tokens. There is a maximum release of 100 million INSUR Tokens which can be mined through staking on the protocol.
InsurAce.io is a decentralized insurance protocol, to empower the risk protection infrastructure for the DeFi community. InsurAce.io offers portfolio-based insurance products with optimized pricing models to substantially lower the cost; launches insurance investment functions with SCR mining programs to create sustainable returns for the participants, and provide coverage for cross-chain DeFi projects to benefit the whole ecosystem.
The project lead for InsurAce is Oliver Xie. Oliver started to work on InsurAce project since September 2020, and prior to that he entered the crypto space back in 2017 where he led a team to research crypto derivatives and blockchain technology and has gravitated towards blockchain-based Open Finance for the past few years.
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