2022 has been a crazy year so far. Since the start of the year, we have experienced close to an 80% drop in the total Market Cap for the crypto markets. To make matters worse, the recent UST de-peg event and high volatility have resulted in great losses for investors and put everyone on high alert. This has been a torrid time for everyone.
We feel deeply saddened and empathetic towards victims who have suffered great losses due to the price action of LUNA and UST de-peg. Concurrently, this goes to show that Insurance will play a pivotal role in the world of DeFi as evident from the payout that we will be releasing to all eligible insured users of our UST de-peg cover following a community vote.
Despite our hectic schedule, we value all partnerships and wanted to take a step back to reconnect with some of our partners to find out what they have been up to and understand their upcoming plans for the rest of the year. This blog will cover key updates and upcoming events, and it may be added as we speak with new partners, so bookmark this post as it will be updated in June 2022.
AutoFarm
Autofarm is a yield farming aggregator.
Key update:
- Plans to expand to more chains in the coming months
Bumper
Bumper is a decentralized volatility protection protocol built on the Ethereum blockchain. It’s designed to provide an easy-to-access way to minimize downside volatility, while still retaining all the upside potential of cryptocurrencies.
Key update:
- Pending Version 1 launch
- Smart contracts currently undergoing audits from top level code security companies
- Release of Crypto Defender – a game that allows players to get a good idea of both the functionality, features and the look and feel of the Bumper dApp
Pendle
Pendle is a protocol that liberates future yield. This partnership was secured to allow Pendle users to protect their assets through InsurAce.io’s insurance cover.
Key update:
- Major update scheduled in Q3
SpiritSwap
SpiritSwap is a decentralized exchange (DEX) on the Fantom Opera Chain.
Key update:
- SpiritSwap V2 (coming soon)
ApeBoard
ApeBoard is a cross-chain DeFi dashboard that enables you to take a snapshot of all your yield farming assets in one easy-to-use place.
Key update:
- Acquired by Nansen recently (Remains free to all users, with the addition of data/analytics from Nansen on the dashboard)
Tranchess
Tranchess is a yield enhancing asset tracker protocol with varied risk-return solutions.
Key update:
- Tranchess V2 Revamp. Greatly improving efficiency with the new AMM pools while keeping the protocol “Tranchess-style”.
- Multi-chain expansion. This includes the ETH merge and much more across different networks.
- Further and broader collaborations with different protocols across various aspects.
Olympus DAO
Olympus DAO offers a decentralized, censorship resistant reserve currency for the emerging Web3 ecosystem
Key update:
- Introduction of Inverse Bonds – takes $OHM in exchange for an asset from the treasury
Origin Protocol
Origin Protocol aims to bring Non-Fungible Tokens (NFTs) and Decentralized Finance (DeFi) to the masses.
Key Update:
- New governance token ($OGV) airdrop and pushing out massive marketing campaigns for $OUSD
Balanced
Balanced is a DeFi platform on ICON.
Key Update:
- Launched a money market on Icon network
ICHI
ICHI is a currency for every community, deploying brand dollars to enable retail on-boarding, protocol growth and ecosystem acceleration.
Key Update:
- Release of new vaults to provide a new type of liquidity that keeps valued locked in crypto projects
- Upgraded $ICHI token – Revised tokenomics
Liquid Driver
LiquidDriver is the 1st liquidity mining dApp providing liquidity-as-a-service in Fantom
Key Update:
- Partnership with Revest Finance (providing a financial NFT of the traditional locked $LQDR)
Platypus Finance
Platypus Finance protocol is a single-side AMM designed for exchanging stable cryptocurrencies (ERC20 tokens) on Avalanche
Key Update:
- NFT minting & more new features (coming soon)
Beethoven X
Beethoven X is a decentralized investment platform and the first next-gen AMM protocol on Fantom
Key Update:
- Partnership with Balancer to bring Balancer V2 tech to Optimisim to build a premier , all-in-one-DEX
- Deployment on Optimism (coming soon)
Despite the uncertain road ahead, one thing is for certain – we will ignore the noise and continue building to better serve all our users through a wider range of innovative products & services while ensuring an exemplary user experience. We look forward to onboard more partnerships and raise greater awareness of the importance of security and become a mainstay in the insurance space within the crypto markets.
