InsurAce.io forms partnership with Alpha Finance to protect users from smart contract risks.

We are excited to share that InsurAce is partnering up with Alpha Finance to insure their Alpha Homora liquidity pools and yield farms. For a low premium, DeFi customers will be able to insure their stakes in Alpha Homora against smart contract breaches and other critical risks. Insuring through InsurAce also rewards customers with the native $INSUR token.

InsurAce is a decentralized insurance protocol that provides reliable and affordable DeFi insurance services to DeFi users with sustainable investment returns. Backed by leading investors including DeFiance Capital, ParaFi Capital, Alameda Research and Huobi DeFiLabs, InsurAce launched its mainnet on April 26th 2021 and subsequently its DeFi insurance services. Recent announcements have included partnerships with dHEDGE and Litentry.

Insuring stakes in liquidity pools and yield farms is becoming more and more important as DeFi continues to grow. In 2020 over $120M was hacked from DeFi protocols, and just recently (April 20th 2021) $66M was hacked from EasyFiNetwork.

Investors in Alpha Homora can insure their assets via the InsurAce app, whereby InsurAce will underwrite their assets on the Alpha Homora platform.

“We’re thrilled to announce a partnership with Alpha Finance and their product, Alpha Homora, our team has been working tirelessly to develop a product suitable to the calibre of partnerships like Alpha Finance. And we hope that with the partnership with InsurAce it will augment confidence in Alpha Homora’s users as they continue to grow.” Oliver Xie, Founder & Lead Developer of InsurAce.

In return for the insurance, they will also be rewarded with INSUR tokens resulting from the minting of staked assets in the form of INSUR tokens and the investment income from the investment pool that derives from insurance premiums and staked tokens. $INSUR tokens will be rewarded to insurance customers with an APY between 30–50% of their insurance premium.

By insuring through InsurAce, Alpha Homora investors will save up to 60% on their portfolio insurance against leading DeFi insurance competitors. The yield from the insurance premium helps to further increase the saving by using InsurAce.

About Alpha Finance and Alpha Homora

Alpha Finance Lab is a DeFi Lab and on a mission to build an ecosystem of DeFi products (the Alpha ecosystem), consisting of innovative building blocks that capture unaddressed demand in key pillars of the financial system. These building blocks will interoperate, creating the Alpha ecosystem that will be an innovative and more capital-efficient way to banking in DeFi.

Alpha Homora is the first leveraged yield farming and leveraged liquidity providing product in DeFi and the first product by Alpha Finance Lab.

ETH lenders can earn high interest on ETH. The lending interest rate comes from leveraged yield farmers/liquidity providers borrowing these ETH to yield farm/provide liquidity.

Yield farmers can get even higher farming APY and trading fees APY from taking on leveraged yield farming positions. By taking leverage, Alpha Homora would borrow ETH on users’ behalf to yield farm.

Liquidity providers can get even higher trading fees APY from taking on leveraged liquidity providing positions. By taking leverage, Alpha Homora would borrow ETH on users’ behalf to provide liquidity.

Alpha Homora app: https://homora.alphafinance.io/.

About InsurAce

InsurAce Protocol is a DeFi Insurance protocol that has quickly become the second-largest protocol in DeFi insurance. At the time of writing, the protocol has a $40 million market cap based on a circulating supply of 8 million INSUR tokens. There is a maximum release of 100 million INSUR Tokens which can be mined through staking on the protocol.

InsurAce is a new decentralized insurance protocol, to empower the risk protection infrastructure for the DeFi community. InsurAce offers portfolio-based insurance products with optimized pricing models to substantially lower the cost; launches insurance investment functions with SCR mining programs to create sustainable returns for the participants; and provide coverage for cross-chain DeFi projects to benefit the whole ecosystem.

InsurAce is backed by DeFiance Capital, Parafi Capital, Hashkey group, Huobi DeFiLabs, Hashed, IOSG, LuneX, Blockarc and Signum Capital. In the three months since its first testnest was released, several high profile partnerships have been established. Information to be released in separate releases.

The project lead for InsurAce is Oliver Xie. Oliver started to work on InsurAce project since September 2020, and entered the crypto space back in 2017 where he led a team to research crypto derivatives and blockchain technology, and has gravitated towards blockchain-based Open Finance for the past few years. He identified an opportunity for a unique approach to providing insurance for DeFi smart contracts and users, and InsurAce was created.

For press enquiries and assets please contact: dan.thomson@insurace.io

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Read More about InsurAce:

Http://medium.com/insurace

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