Bella protocol users can now insure their assets with InsurAce

InsurAce is very excited to announce a new strategic partnership with Bella Protocol. Users of bella protocol will now have the ability to insure their staked assets against risks of smart contract hacks and bugs.

Bella is a suite of open finance products, including automated yield farming tools, BEL Locker, and Flex Savings. Bella believes everyone deserves equal access to premium financial products and services with elegant design and a smooth user experience, which brings familiar mobile banking into crypto with just one click users. With Bella, you can just simply sit back, watch your asset grow, and leave all the heavy-lifting to secure, automated smart contracts. At the time of this release, Bella had a TVL of $30 million.

Bella is one of the earliest protocols covered by InsurAce, and both teams have been working closely over the past few weeks to bring this to the Bella & InsurAce communities.

InsurAce will offer a special discount to Bella users buying covers on InsurAce, and Bella will also incentivise these users with BEL tokens. Meanwhile, Bella Protocol will buy cover from InsurAce to safeguard their treasury. Both protocols will also work closely in co-marketing and community building.

“We’re very excited to be working with Bella, it is a very exciting project with a lot of potential, and we can offer their users competitive insurance for their assets. The fixed-rate interest model of Bella helps to further stabilise DeFi, and with coverage from InsurAce reduces any risks further which will inevitably lead to larger institutions adopting DeFi.” Oliver Xie, founder of InsurAce.

Being an ex-actuary myself, I understand first-hand how crucial insurance is as a risk management tool, especially in the dark forest of DeFi. There are not many insurance products out there for DeFi protocols to choose from at this stage, and I can say with confidence that InsurAce is among the most trustworthy and best. User asset safety has been our top priority. Our product has been audited and gone through miscellaneous testing frameworks. By offering flexible and reliable insurance products to our users and potentially the whole Bella Flex Savings product, InsurAce now adds another layer of security to Bella products and this really makes me sleep better at night. I look forward to our partnership with InsurAce on multiple fronts.Yemu Xu, Cofounder & CGO of Bella Protocol.

This partnership with Bella comes as part of the wider rollout of insurance services across DeFi, working with handpicked protocols to build sustainable growth, and offering industry-beating insurance services.

About Bella Protocol

Bella Protocol is a suite of open finance products, including automated yield farming tools, BEL Locker, and Flex Savings. We believe everyone deserves equal access to premium financial products and services with elegant design and a smooth user experience.

Bella Protocol is backed by Binance Labs and Arrington Capital as lead investors. Other investors include Alphabit, AlphaCoin Fund, Koi Ventures, Ledger Capital, Tensor, N7 labs, Quest Capital, HBTC Labs, and more.

Bella brings your familiar mobile banking into crypto with just one click. With Bella, you can just simply sit back, watch your asset grow, and leave all the heavy-lifting to secure, automated smart contracts.

Bella’s core team consists of serial entrepreneurs and blockchain veterans who have tremendous experience and a proven track record in finance, cryptography, blockchain, and engineering.

For more information about Bella, or to join our team, please contact us at contact@bella.fi

Learn about Bella’s recent official news:

Medium: https://medium.com/@Bellaofficial

Twitter: @BellaProtocol

Telegram: https://t.me/bellaprotocol

Discord: https://discord.gg/JamMH5P

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 11 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 provides 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, LongHash Ventures, Signum Capital and a dozen of other top funds. 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 prior to that he entered the crypto space back in 2017 where he led a team to research crypto derivatives and blockchain technology, and has gravitated towards the 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

Join our community:

contact@insurace.io

http://forum.insurace.io

https://discord.com/invite/vCZMjuH69F

https://t.me/insurace_protocol

https://twitter.com/insur_ace

Read More about InsurAce:

Http://medium.com/insurace

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