Tidal Finance announces Strategic Partnership with Xend Finance to provide Decentralized insurance for its Assets

Xend Finance is Africa’s first DeFi (Decentralized Finance) project and the first DeFi credit union in the world. Backed by Binance and Google Launchpad, Xend Finance helps users to earn compound interest by converting their savings into stablecoins and investing them into high-yield DeFi platforms. This enables users to earn high APYs (Annual Percentage Yields) regardless of their geography or native currency.

We are pleased to be joining forces with XEND Finance as they provide a new form of investment opportunities through multiple levels of interest to users around the world.

Through this partnership, Tidal Finance will provide decentralized insurance to the assets on the XEND Finance, and help launch its initial coverage pool. Through the coverage pool, XEND users can simply get their asset protected by paying a low insurance premium.

Decentralized Insurance for Decentralized Credit Union

Xend Finance allows users in countries with unstable currencies, or economical hardships, to convert their savings into stablecoins. These are then staked in DeFi lending platforms such AAVE, Compound, Balancer, etc. to earn compound interest with high APYs.

However, as with any DeFi platform, the assets on Xend Finance are at risk of malicious actors, hacks, and human errors despite their high level of security. This is why mutual cover pools offered by Tidal Finance could add in an extra layer of security for the smart contracts and assets on Xend Finance.

As a result of this partnership. $XEND tokens will also be added on Tidal Risk Pools. Tidal will work closely with the Xend Finance team to launch its initial coverage pool. Eventually, Tidal finance could offer more coverage to cover buyers and increase LP’s returns

About Xend Finance

Xend Finance provides the tools and platform for a decentralized financial credit union, regardless of geographic location and the home country currency. Members can seamlessly swap their crypto or fiat currency to stable cryptocurrencies and stake them on lending platforms to earn multi-levels of interest on their money.

About Tidal Finance

Tidal Finance makes DeFi safer by providing insurance coverage for assets across chains in custom balanced liquidity pools. With Tidal, users can select risk pools by choosing any 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/tidalfinance

📗Intro to Tidal Medium blog: https://medium.com/tidal-finance/introducing-tidal-open-marketplace-for-programmable-insurance-1a48b1d497eb