InsurAce.io is delighted to announce that they have a new official partner, Platypus Finance.
InsurAce.io and Platypus have committed to a strategic partnership with the intend of decreasing security risks for DeFi users.
Platypus is a DeFi protocol powered by the Avalanche network. The main products offered by Platypus are StableSwap and incentivized liquidity provision. Platypus is a solution to the problems faced with other StableSwaps.
Right now, one of the major problems found in first-generation stableswaps’ closed liquidity pools is liquidity fragmentation. This results in high slippage for most. Along with this, many stableswaps have a poor UX. Most stableswaps require multiple tokens of equal value within a pool which complicates its pool compositions. This can hinder the scalability of protocols which, in turn, creates a worse experience for users.
Platypus has invented a whole new AMM on Avalanche. The key concept underpinning the design of the protocol is asset-liability management. This creates lower slippage, higher scalability and most importantly, a better user experience.
As part of their commitment to their users, Platypus is always looking to reduce risk and increase security. As a result, they’ve dedicated a risk page which can be found here: https://platypus.finance/risk
They have also undertaken 3 security audits. One with one of InsurAce.io’s partners — Hacken which can be found here: https://hacken.io/audits/#platypus_finance
As well as core implementation security audit and a governance staking implementation security audit with Omniscia.
Now, they’ve further strengthened their user’s security by allowing its users to purchase smart contract vulnerability insurance cover via the insurAce.io dApp: app.insurace.io
“We’re happy to confirm our latest long-term partnership with the AMM Platypus. They have developed well over the last 12 months and we were keen to provide their users with an opportunity to insure their assets. We’re always excited to build partnerships with other security-focused DeFi teams and the Platypus team have shown their dedication to security exceptionally well since their incorporation. This partnership also strengthens our coverage on the Avalanche network.”Oliver Xie, Founder, InsurAce.io
For terms and conditions of the smart contract insurance, please refer to this document: https://files.insurace.io/public/en/cover/SmartContractCover_v2.0.pdf
About Platypus:
The Platypus Finance protocol is a single-side AMM (decentralized exchange) designed for exchanging stable cryptocurrencies (ERC20 tokens) on the Avalanche blockchain.
The protocol is implemented as a set of smart contracts; designed to prioritize censorship resistance, security, self-custody and maximum capital efficiency.
Platypus features single-token provision, eliminating impermanent loss risk for liquidity providers, and minimizing slippage for traders.
Join Platypus community:
Website | Twitter | Discord | Telegram
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 111+ protocols, safeguarding over $255M 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.
Join InsurAce.io community:
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