InsurAce.io partnerships — 2021 review and what to look forward to in 2022.

2021 was an incredible year for the world of DeFi and, in particular, insurAce.io. As the last figures of the year show, the industry has generated a TVL (Total Value Locked) of $254b and with this, security is at the forefront of everyone’s minds.

Followers of our project have been inundated with various agreed partnerships since our launch and we wanted to highlight how last year went and the new year is looking, not only for us, but for the partners that we work with daily.

We had the opportunity to sit down with some of our partners to be able to highlight their achievements and to understand their vision over the coming months. This blog details those key highlights and forthcomings and may be added to when we speak to other partners, so bookmark this post as it will get updated during the month of January 2022.

CoinGecko

CoinGecko is the world’s largest independent source of reliable cryptocurrency data. They partnered with insurAce.io to use our API to integrate with our service to provide direct insurance information and the links to the insurance that we cover.

Top 3 2021 Highlights:

  • Received over 150m monthly visits and served more than 200bn API calls to power crypto apps.
  • Organised the world’s largest NFT event, GeckoCon: NFTs Gone Wild, with over 10,000 participants globally.
  • Published successful content such as “How to DeFi (Advanced)” to onboard new users to the crypto space.

Top 3 2022 Forthcomings:

  • Releasing a book titled “How to NFT” for newcomers.
  • Use innovation to bring greater crypto data availability and transparency, allowing users to navigate better within the space.
  • Building infrastructure to support the exponentially growing web3.

Mushrooms Finance

Mushrooms Finance is a crypto earning vault focused on seeking sustainable profit in the DeFi universe. This partnership was officially confirmed in July 2021 and offers Mushrooms users to insure their assets kept within the platform.

Top 3 2021 Highlights:

  • Went live on the ETH, BSC, Fantom, Polygon and Avalanche chains with thousands of users and tens of auto-compounding earning strategies.
  • Launched the innovative MushMon, an auto portfolio rebalancing tool.
  • Successfully undertook 3 formal security audits from PeckShield, Debaub and CoinFabrik to cover deployed smart contracts.

Top 3 2022 Forthcomings:

  • Continuing to build multi-chains with active support on existing deployments.
  • Developing more support for additional trading bots for MushMon.
  • There are more innovative and unique products being developed this year to compliment MushMon.

Impossible Finance

Impossible is a multi-chain incubator, launchpad and swap platform that offers a product-first ecosystem to support top-tier blockchain products for users. InsurAce partnered with Impossible to provide IDO event risk cover as well as the smart contract risk cover.

Top 3 2021 Highlights:

  • Provided an average return of 12x on Impossible Launchpads during 2021.
  • Grew to over 25,000 KYC’d users
  • Launched 9 successful IDOs in the last 4 months of the year.

Top 3 2022 Forthcomings:

  • Rolling out multichain launchpads across Avalanche and Moonbeam.
  • Working on more strategic collaborations with Web3 and metaverse projects.
  • New features will be coming throughout the year, not just with launchpad.

Trader Joe

Trader Joe is a one-stop decentralized trading platform on the Avalanche network. InsurAce.io partnered with Trader Joe to protect users as the platform has already attracted over $4bn in assets.

Top 3 2021 Highlights:

  • Launched both a DEX (#1 on Avalanche) and lending protocol.
  • Achieved a daily trading volume of $1bn in assets and grew Twitter to over 100,000 followers.
  • Listed on FTX, Binance and Crypto.com.

Top 3 2022 Forthcomings:

  • Tokenomics overhaul coming for their staking product.
  • Deployment of a new primitive: Rocket Joe.
  • Launch of a NFT marketplace.

SpiritSwap

SpiritSwap is a DEX that is built on the Fantom network. InsurAce.io provides insurance protection to users that have assets staked in SpiritSwap pools.

Top 3 2021 Highlights:

  • Successfully deployed their DEX.
  • Implementation and rollout of the inSPIRIT model.
  • First additions of boosted farms.

Top 3 2022 Forthcomings:

  • Transition to DAO so inSPIRIT holders get an absolute say over the direction of the project.
  • AMM v2 rollout with complete revamp of website and UI.
  • Deployment of leverage trading product (ApeMode)

Beefy

Beefy Finance is a DeFi yield optimizer project that allows its users to make more crypto with crypto. InsurAce.io provides insurance for Beefy on BSC, Fantom, Avalanche and Polygon against bugs and hacks.

Top 3 2021 Highlights:

  • Achieving $1bn TVL.
  • Cross-chain compatibility, deploying across 9 chains.
  • Receiving a grant from Fantom.

Top 3 2022 Forthcomings:

  • New UI/UX interface to be launched.
  • Expansion across further networks.
  • Beefy v2 rollout.

88mph

88mph is an ethereum-based protocol allowing users to opt between fixed-interest rate bonds, floating-rate bonds or zero-coupon bonds. This partnership allows for DeFi stability and improvements on security.

Top 2021 Highlight:

  • 88mph v3 release and multi-chain deployment.

Top 2022 Forthcoming:

  • New tokenomics with the introduction of a gauge system with veMPH and a capped MPH supply.

Alpaca Finance

Alpaca Finance is the largest lending protocol allowing leveraged yield farming on BSC. InsurAce.io offers users protection against smart contract hacks and vulnerabilities.

Top 3 2021 Highlights:

  • Established the most comprehensive and advanced leveraged yield farming ecosystem with highly-composable features.
  • Increased the ALPACA token long-term value and utility within their ecosystem through additional deflationary mechanisms and protocol use-cases.
  • Optimized protocol security and robustness through audits and the addition of multi-sig.

Top 3 2022 Forthcomings:

  • Implement Governance part 2/2: xALPACA voting.
  • Exclusive Alpaca physical merchandise for Alpie owners.
  • Aims to be on the multi-chain

Coin98 Labs

Coin98 Labs is an Open Infrastructure Financial Services builder focusing on creating and developing an ecosystem of DeFi protocols. InsurAce.io API has been integrated with Coin98.

Top 3 2021 Highlights:

  • Raised $1.25m seed round in March. Raised an additional $11.25m strategic funding round in June. An additional $4m was raised in April for Coin98 Finance.
  • Conducted an IEO on Binance Launchpad and continued to be listed on other major exchanges.
  • Released some big products: Coin98 Exchange, NFT support, SpaceGate cross-chain bridge, Coin98 Staking and Coin98 Vault.

Top 3 2022 Forthcomings:

  • Coin98 SuperApp launch — “Your Crypto Everything App”.
  • NFT Marketplace launch
  • Multichain Token launch platform.

PolkaCover

PolkaCover is the first DeFi insurance marketplace for the global crypto ecosystem. Cover Compared launched with insurAce.io as a founding partner.

Top 3 2021 Highlights:

  • $CVR was listed on 3 exchanges (UniSwap, Orion and MEXC).
  • Launched on the Polygon network and insuring assets on Ethereum and Polygon chain.
  • Testnet and Bug bounty programs went live.

Top 3 2022 Forthcomings:

  • Launch of the dApp.
  • Onboarding of more traditional and crypto-based insurance providers.
  • Gasless insurance policy purchasing — no more gas fees!

Oolong Swap

Oolong Swap is a DEX from the liquidity hub of Boba Network. This partnership is focused on security and provides a gateway for Boba and the rest of the DeFi world.

Top 3 2021 Highlights:

  • Launched the first and biggest DEX on Boba.
  • Accumulated $100m+ TVL in 50 minutes and $300m TVL in just 2 days. ATH TVL was $500m
  • In only 2 months, Oolong PCV has accumulated $1m in value from swap fees alone.

Top 3 2022 Forthcomings:

  • Continue to help bootstrap the Boba ecosystem and help grow other projects through programs such as AMA’s and Multeafarm.
  • An expansion of features for Oolong Swap and more utilities for $OLO and $YOLO tokens and the introduction of Oolong DAO.
  • Commitment to grow the L2 space with similar projects while educating and raising awareness of L2.

DinoSwap

DinoSwap is a cross-chain infrastructure project that builds liquidity for layer-one blockchains, AMMs and partnering projects. InsurAce.io provides insurance cover for digital assets held.

Top 3 2021 Highlights:

  • Launched the lowest fee DEX on Polygon with 100% of the revenue going towards DINO tokens.
  • Partnered with Siftchain and introduced the first Cosmos-native assets into the Polygon yield-farming ecosystem.
  • 100% uptime for the whole of 2021 with 0 vulnerabilities or hacks.

Top 3 2022 Forthcomings:

  • Deploying on another blockchain.
  • NFT games fueling burns with great prizes. Exciting partnerships will be announced regarding this with some top platforms of Polygon.
  • Aggressive token burns planned.

PortFinance

PortFinance is a lending protocol that aims to provide an entire suite of fixed income products including variable rate lending, fixed rate lending and interest rate swaps. InsurAce.io partnered with PortFinance and increased its offering on Solana.

Top 3 2021 Highlights:

  • Raised over $7 million in funding from leading investors such as Jump Capital, Defi Alliance, Alameda Research, Brevan Howards and a41.
  • Launched on Solana mainnet as one of the first liquidity protocol with a record of over $400 million in total value locked.
  • Became the first protocol that offers fixed rate lending on Solana.

Top 3 2022 Forthcomings:

  • Launching fixed rate borrowing which allows users to borrow fund against their existing holdings.
  • Launching governance module together with Tribeca for users to vote on key decisions.
  • Launching interest rate swap for users to express view on the current defi interest rate markets.

Tranchess

Tranchess is a yield enhancing asset tracker protocol with varied risk-return solutions. InsurAce.io partnered to give Tranchess users access to high-quality insurance services with affordable annual premiums.

Top 3 2021 Highlights:

  • Launched Tranchess in June 2021 with BTC fund & subsequent ETH Fund 4 months later.
  • BSC MVB August Star, Hall of Fame & Binance Listing within 5 months of launch.
  • TranchessDAO kick off for DAO governance.

Top 3 2022 Forthcomings:

  • Introduction of BNB fund and validator on BSC network.
  • Plans to expand on multiple chains.
  • Launch of Tranchess Swap v2 and new v2 fund structure.

Ava Labs

Ava Labs is the team behind the Avalanche network. Avalanche is the fastest smart contract platform in the blockchain industry. InsurAce.io partnered with Ava Labs so that they could deploy on the Avalanche network.

Top 3 2021 Highlights:

  • dApps live and running on top of Avalanche C-Chain, along with the launch of Avalanche Rush.
  • Completion of Avalanche bridge.
  • Community expansion of over 35x the previous year.

Top 3 2022 Forthcomings:

  • Subnets launching.
  • Avalanche mobile wallet.
  • The Avalanche Summit.

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.

Top 3 2021 Highlights:

  • Supported 9 different assets from 6 protocols across 2 blockchains.
  • Over $65 million of YT and OT assets have been traded since inception.
  • Protocol liquidity exceeded $100 million.

Top 2022 Forthcoming:

  • Keep your eyes peeled as we are soon to launch our 2022 roadmap.

MCDEX

MCDEX is the first fully-permissionless DEX for trading perpetual contracts, powered by MCDEX’s revolutionary AMM technology.

Top 3 2021 Highlights:

  • Launch of V3, the first permissionless perpetual protocol on Arbitrum and BSC.
  • Accumulative trading volume of $7.2 billion.
  • Over 5000 users of our platform.

Top 3 2022 Forthcomings:

  • Iterating our product for a v4 launch.
  • Expansion onto multiple chains.
  • Launching ecosystem products that build on top of our protocol.

mStable

mStable is a decentralized stablecoin ecosystem that allows you to swap, save and protect your stablecoins. InsurAce.io provides insurance cover to protect mAssets.

Top 3 2021 Highlights:

  • Almost doubled the number of full-time team contributors, community calls attendance skyrocketed and governance was gamified with quests.
  • mUSD got listed on Coinbase, launched 5 fPools and integrated 5 new partners in its ecosystem strengthening its positioning within DeFi.
  • Introduced a v2 staking update, pioneered decentralization with the Emission Controller and revamped the UI with a brand new dashboard.

Top 3 2022 Forthcomings:

  • mStable v2 will launch in 2022.
  • mStable product range will extend to DAO-oriented products.
  • Scaling (L1-L2) will be a core priority for the protocol this year.

What an amazing year it’s been for both ourselves and our partners. We’re excited about all the incredible things planned in the DeFi space for 2022. We’re looking forward to continuing to work with our partners and forming new partnerships throughout the year. Working together allows us to be successful together.

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