InsurAce.io and Angle have today announced their ongoing long-term partnership which focuses on preventing security breaches and protecting users’ digital assets.
InsurAce.io, the leading decentralized multi-chain insurance protocol, is pleased to confirm that they have formed an official partnership with Angle, a capital-efficient, over-collateralized and liquid decentralized stablecoin protocol.
Angle offers full convertibility between stable assets and collateral at oracle value, meaning that you could swap 1 of collateral against 1 of stablecoin and conversely, thus making the protocol both capital efficient and offering high liquidity.
As with many other DeFi protocols, Angle involves 3 agents. Firstly, users/stable seekers/holders who can swap collateral against stable assets, and conversely swap stable assets against whitelisted collateral of their choice at oracle value, with no slippage and small transaction fees. Secondly, Hedging Agents, who can open on-chain leveraged positions on Angle and finally, Standard Liquidy Providers who lend collateral to the protocol in return for a share of minting and burning fees, and of the rewards earned from investing part of the protocol reserves into yield-earning strategies.
The Angle Protocol is implemented as a set of smart contracts on top of the Ethereum blockchain.
InsurAce.io recently listed Angle on their dApp to allow users to protect their assets held in Angle against any vulnerabilities on the smart contract. The initial capacity has already sold out but InsurAce.io are working hard to increase this. Cover, when available, will be available via: app.insurace.io
Angle is very focused on protecting their own users against risks further and has already undertaken 2 successful audits with Chainsecurity and Sigma Prime, the code and audits have been published in Angles repository which can be found here: Angle’s repository.
“We’re excited to confirm our latest partnership with Angle. After initial discussions with the team, we were convinced of their determination to make our industry more secure and to protect as many users against malicious attacks as possible. Our community have been very keen for us to announce this partnership and we’re delighted to fulfil those wishes. We are looking forward to collaborating with Angle as much as possible over the coming weeks, months and years.” Oliver Xie, Founder, InsurAce.io
InsurAce.io will be protecting Angle users who have purchased insurance cover against smart contract vulnerabilities. The terms and conditions can be found here: https://files.insurace.io/public/en/cover/SmartContractCover_v2.0.pdf
About Angle:
Angle is a scalable, efficient, over-collateralized and liquid decentralized stablecoin protocol. Angle could be used to issue virtually any type of stablecoins. The protocol is launching a Euro stablecoin, the agEUR, followed by other stablecoins in the near future, like or agCHF or agJPY.
The protocol is also completely open source, which allows anyone to interact with the user interface client, API or directly with the smart contracts on the Ethereum network. Being open source means that you are able to build any third-party service or application to interact with the protocol and enrich your product.
Join Angle community:
About InsurAce.io
InsurAce.io is a decentralized multi-chain 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 flexible underwriting mining programs to create sustainable returns for the participants, and provides coverage for cross-chain DeFi projects to benefit the whole ecosystem.
At the time of writing, InsurAce.io has provided coverage to 108+ protocols, safeguarding over $240M DeFi assets on 16+ public chains.
InsurAce.io is backed by DeFiance Capital, Parafi Capital, Alameda Research, Hashkey Group, Huobi DeFi Labs, Hashed, IOSG, Signum Capital, Long Hash Ventures and a dozen of other top funds.
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