Tidal Finance forms a Strategic Partnership with PolkaFoundry to offer Decentralized Insurance Coverage to its ecosystem
Tidal Finance is pleased to announce its partnership with PolkaFoundry, a One-stop Production Hub for DeFi Applications on Polkadot. It is a platform for creating borderless and frictionless DeFi apps. PolkaFoundry is designed to unleash developers to explore new horizons of the DeFi landscape.
Tidal Finance is a high-yield Insurance Platform that allows users to buy and sell over-leveraged covers across multiple chains
Through this collaboration, Tidal Finance will provide an extra crucial layer of security to the PolkaFoundry platform and the DeFi assets/apps on it. The decentralized insurance coverage to the platform assets will instill more confidence among PolkaFoundry users and encourage network adoption.
Decentralized Insurance for the One-stop dApp factory
Tidal Finance makes DeFi safer by providing insurance coverage for assets across chains in custom balanced liquidity pools. With Tidal, users can choose risk pools depending on their risk appetite, and filter it through a combination of protocols/assets and their coverage terms (premium, cover period, etc). Liquidity Providers, on the other hand, can invest in pools that suit their risk/reward ratio.
PolkaFoundry is a One-stop dApp factory providing interoperability with DeFi and Web 3.0 ecosystems. It leverages the thrilling ecosystem of Polkadot and Substrate with its unprecedented scalability and interoperability. PolkaFoundry’s built-in made-for-DeFi services make it easy for DeFi apps to manage identities, store files, and access Oracle data.
However, one of the problem points of DeFi platforms has been their vulnerability to hacks and nefarious attacks, that could place network assets at risk. Tidal addresses this by acting as fail safe mechanism with its mutual cover pools. This, in turn maximizes the capital efficiency of PolkaFoundry’s treasury funds, and attracts more liquidity into the DeFi platform.
A key feature of this partnership will be the value proposition of adding PolkaFoundry and its native tokens PKF into the Tidal risk pool. This will enable Tidal LPs to earn additional returns by providing insurance for it. As more protocols are added to the Tidal risk pools, LPs will have more options to deploy their capital.
PolkaFoundry is a One-stop dApp factory providing interoperability with DeFi and Web 3.0 ecosystems. Its a blockchain built on Substrate, is EVM-compatible, and supports several UX-enabling features for dApps. The blockchain will work as a Polkadot parachain or parathread. Built-in UX-enabling features which allow developers to build frictionless-UX so that dapps can approach normal people outside the crypto community. This is the key point for blockchain to reach mass adoption.
About Tidal Finance
Tidal Finance makes DeFi safer by providing insurance coverage for assets across chains in custom balanced liquidity pools. TIDAL is a Balancer-like insurance market built upon Polkadot that allows users to create custom insurance pools for one or more assets.
With Tidal, users can choose risk pools depending on their risk appetite, and filter it through a combination of protocols/assets and their coverage terms (premium, cover period, etc). Liquidity Providers, on the other hand, can invest in pools that suit their risk/reward ratio.
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