Tidal Finance and EasyFi Network are partnering to protect against hacking incidents and protocol failures
Tidal Finance is pleased to announce that it has partnered with EasyFi Network. EasyFi describes itself as a universal layer 2 lending protocol built for DeFi focused on scalability, composability, and adoption. It has been designed as an open network infrastructure to run on public networks to facilitate an end to end lending & borrowing of digital assets and related financial products. The EasyFi network is blockchain agnostic, allowing cross-chain asset settlements. EasyFi uses a Proof-of-Stake consensus mechanism.
Tidal Finance is a Balancer-like insurance market that allows users to create custom insurance pools for one or more assets. By rewarding pool creators with a portion of the return from their deposits, the maximization of capital efficiency attracts LP’s, while the offering of a competitive insurance premium attracts buyers.
Decentralized Insurance connected with a Lending Protocol for Digital Assets
Through this collaboration, Tidal will be able to offer a higher level of insurance coverage to EasyFi’s network of projects. The security of the EasyFi ecosystem will be greatly enhanced through the partnership.
As we described earlier, DeFi is still vulnerable to attacks and hacks. This results in a need for decentralized security measures against such incidents which then protects the funds of the users. Our cover protocols will help to protect the EasyFi Ecosystem and enable safer credit delegation and micro-lending.
By joining our forces, EasyFi will be also able to ensure protection of their Liquidity Pool services.
Benefits from the Tidal and EasyFi Partnership
By integrating Tidal’s insurance coverage to secure the digital assets, the EasyFi platform is further protected in security matters.
For liquidity pools, the solution could include metrics such as the return on deposited capital, loss-of-principal risk and lock-up period, which will be provided to evaluate the returns and risks among different pools.
Tidal also offers the functionality to create custom insurance pools for one or more protocols.
A blog post by CEO and founder Ankit Gaur published on EasyFi’s Medium pointed out that they are fully committed to the best interest of their lending protocol users & community members. In this context, the partnership will be oriented to offer the highest level of security for their protocols, liquidity pools and much more.
Easyfi is a universal layer 2 lending protocol built for defi focused on scalability, composability, and adoption. It has been designed as an open and inclusive financial network infrastructure to run on public networks to facilitate end-to-end lending & borrowing of digital assets and related financial products. Currently, the lending protocol is available on Polygon, Ethereum and the Binance Smart Chain networks. Easyfi is being built upon the ethos of permission-less networks & automation of smart contracts.
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 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.
TIDAL Public Channels
🖥️ Official Website: https://tidal.finance/
📰 Medium: https://tidalfinance.medium.com/
🐦 Twitter: https://twitter.com/tidaldefi
📢 Announcements Channel: https://t.me/tidalann
💬 Telegram Channel: https://t.me/TidalGlobal
📗 Intro to Tidal Medium blog: https://medium.com/tidal-finance/introducing-tidal-open-marketplace-for-programmable-insurance-1a48b1d497eb