We have some very exciting news to share about our recent integration with Bright Union. InsurAce.io has partnered with Bright Union to offer our range of insurance products through the Bright Union dApp. Bright Union has used our API to integrate with our service, and bootstrapped their initial business.
On average the crypto community loses 100 million dollars worth of coins and tokens per week, due to hacks and smart contract failures. InsurAce.io has been providing insurance services against these risks for the past five months since our Mainnet launch in April. Bright Union has integrated our protocol via our new API to provide the first DeFi insurance marketplace including InsurAce.io.
“InsurAce is the perfect attestation of the exponential growth potential of DeFi coverage: launched mainnet in May 2021, and having insured more than $70m in assets to date. At Bright Union we believe that further innovation is required to reach large scale adoption of DeFi coverage. Therefore, we are delighted to have partnered with InsurAce, an innovation powerhouse, being the first to offer multichain compatibility (ETH, BSC & Poly). We look forward to together bringing DeFi coverage to the next level aiming for mass adoption” Jorrit Kooi, CEO, Bright Union
Users can compare the cover types and prices via the Bright Union dApp. Currently, InsurAce.io is listed along with Nexus Mutual and Bridge Mutual. This means that users can see our 70+ insured protocols along with those listed by Nexus Mutual and Bridge Mutual.
“This partnership with Bright Union is great for the InsurAce.io community and DeFi users everywhere. We believe in collaboration in DeFi and Crypto and so having a simple interface allowing customers to make educated decisions about protecting their assets is a huge step forward. We have seen huge adoption of marketplaces like this in traditional insurance sectors and we believe that Bright Union will do the same for Crypto. It also allows us to directly show our highly competitive, great value range of insurance products directly to DeFi users that may have not found our project otherwise. Together we are working towards making DeFi a safer place for everyone.” Oliver Xie, Founder, InsurAce.io
Users will be able to use the Bright Union dApp to purchase their insurance at no extra cost than they would be able to directly through the InsurAce.io dApp.
We expect to be working closely with the Bright Union team over the coming months and will have regular updates on this partnership.
About Bright Union
Bright Union is building the world’s leading aggregator and accelerator for DeFi crypto risk markets. Our mission is to make the crypto risk markets work, giving investors the ability to seamlessly enjoy coverage on their exposure. On our Decentralized Crypto Coverage Platform, our community can compare and buy coverage, stake and earn by covering the community, and last but not least, join the Bright Union staking pool.
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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, followed by a mainnet launch to the Ethereum Network in April 2021.
InsurAce.io is a decentralized insurance protocol, covering 60+ protocols on 8+ chains, built 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, up to 60% lower than other protocols, simultaneously reducing gas fees by up to 50%.
InsurAce.io is backed by DeFiance Capital, Parafi Capital, Alameda Research, Hashkey group, Huobi DeFiLabs, Hashed, IOSG, Signum Capital and a dozen of other top funds.
There is a circulating supply of 11 million INSUR tokens with a maximum release of 100 million INSUR Tokens which can be mined through staking on the protocol.
Tokens can be used for staking themselves, and for governance of claims submitted through the dApp. Read more about the tokenomics here.
All Links: linktr.ee/insurace