After recently listing FODL Finance on their dApp, InsurAce.io is delighted to confirm that both companies have formed an official partnership.
FODL is a fully decentralized leverage trading platform which combines several of the building blocks of the DeFi ecosystem. FODL enables traders to utilize leverage for their trades without paying a funding rate.
FODL was built to meet the need for highly liquid, low-cost, and fully on-chain leverage. Rather than reinventing a centralized exchange, FODL utilizes existing DeFi building blocks to accomplish their goals.
FODL is unique in 3 specific ways::
- Traders/Yield Farmers are able to open positions on FODL, gaining leverage exposure to their preferred asset while earning yield.
- FODL smart contract bots are used to protect leveraged positions on FODL against liquidation ensuring options to set stop losses and take profit levels.
- Through the FODL governance token, holders can participate in FODL DAO, determining the trajectory of the protocol.
As security is a high priority for the FODL team, they were keen to set up a partnership with InsurAce.io focused on protecting their users’ assets. As a result, smart contract insurance is available to users wishing to purchase that extra layer of protection. FODL are incredibly keen for their users to take up this offer and they’ve implemented their own button onto their landing page to improve traction.
Insurance for FODL users via InsurAce.io is available on the ethereum, BNB Chain and Polygon networks. Cover can be purchased here: app.insurace.io
“We’re really happy to form this partnership with FODL. Security is a priority for many within our industry and we’ve been delighted to collaborate thoroughly with the FODL team to promote the need for DeFi insurance in 2022. We’re looking forward to working with them in the near future on joint marketing activities.” Oliver Xie, Founder, InsurAce.io
Fodl is a fully decentralized leverage trading platform using liquidity from collateral lending platforms like Compound and Aave instead of funding rate and margin markets.
The FODL platform combines several money “legos” of the DeFi ecosystem – flash loans and collateral lending platforms, combined with proprietary position protection bots and cross-asset price indexing – to build a fully decentralized leverage trading platform.
FODL enables traders to utilize leverage for their trades without paying a funding rate. This leverage is derived from existing DeFi building blocks, Compound and Aave. In essence, traditional DeFi borrow/lend platforms are turned into money markets providing users with leverage by margining their assets to themselves. Their motto is: Be your own funding rate!
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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 138+ protocols, safeguarding over $343M+ DeFi assets on 20+ 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: