InsurAce.io is proud to confirm that the application for a development grant from NEAR protocol has been approved, and our deployment on NEAR will be coming very soon.
InsurAce.io was launched 9 months ago to provide insurance products and protection against potential exploitations within the DeFi sector. As part of our dedication towards steady growth, improving community experience and offering the greatest service, one of our main focuses has always been to go fully multi-chain. One of the rising star ecosystems over the past year has been NEAR protocol and we recently applied for a development grant from the NEAR Foundation to help with our development.
InsurAce.io is always on the lookout for emerging ecosystems and technologies. Since our incorporation, we’ve promised new protocols would be coming. This is a big step towards that reality and we’re happy to announce that we will be working to develop our product on the NEAR protocol.
NEAR and InsurAce.io both have a vision of experiencing a world where people control their money, data and the tools to build new ideas and concepts. Near is a sharded, proof-of-stake, layer-one blockchain that is simple to use, secure and scalable.
NEAR Protocol is both EVM (Ethereum Virtual Machine) and Rust based and we’re delighted to confirm that the InsurAce.io grant allows us to develop on both networks. To understand the NEAR protocol from a developers perspective, feel free to get the latest updates/code from their Github.
The NGP (Near Grants Program) has been running for 12 months. The ecosystem announced that they were allocating $250m to various DeFi projects that they felt could be valuable to their community and system. We’re excited to be working very hard to expand the NEAR protocol as we believe NEAR can create a network that empowers millions of people to reimagine business, creativity and community for a much more inclusive future.
We will have more announcements throughout the year as we begin to develop and build on the NEAR ecosystem.
“We were thrilled to receive the good news from NEAR protocol that we would be receiving their development grant to allow our team to develop a variety of products across their ecosystem. We believe very strongly in the benefits that the NEAR ecosystem’s technology provides and we’re delighted to get started on creating a better and more inclusive future for all. We are still in discussions to expand across other networks and this is a strong foundation for our ambitious future.” Oliver Xie, Founder, InsurAce.io
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 DeFiprojects to benefit the whole ecosystem.
At the time of writing, InsurAce.io has provided coverage to 100+ protocols, safeguarding over $210M DeFi assets on 16+ public chains.
InsurAce.io is backed by DeFiance Capital, Parafi Capital, Alameda Research, Hashkeygroup, Huobi DeFiLabs, Hashed, IOSG, Signum Capital, LongHash Ventures and a dozen of other top funds.
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