Tidal Finance partners with OpenDeFi to integrate its Decentralized Insurance solutions
We’re excited to announce that Tidal Finance has partnered with OpenDeFi. OpenDeFi is a global initiative to develop the decentralized financial ecosystem and advance the collaboration of DeFi projects across borders and blockchains. It is tokenizing real world assets which are 100% insured, backed by an actual physical asset and held by a custodian.
Tidal Finance is making DeFi safer by building the first customizable smart contract cover marketplace for the Polkadot platform.
Through this collaboration, Tidal will be able to offer a higher level of insurance coverage to OpenDeFi’s network of projects. The security of the OpenDeFi ecosystem will be greatly enhanced through the partnership with Tidal.
Integrating Mutual cover pools with global DeFi markets.
Through intensive programs and forums, OpenDeFi is bridging the gap between physical assets and DeFi. It allows you to invest in real world assets via on-chain synthetics. Get instant loans or earn a rental on your assets.
However, DeFi is always vulnerable to numerous attack vectors like hacks, malicious actors or even just human error. The whole initiative hinges on high level security systems being in place. This is where a decentralized insurance coverage solution could go a long in tackling various vulnerabilities and protecting the whole ecosystem.
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.
Value proposition of the Tidal-Open DeFi partnership
The integration of Tidal’s Mutual cover pools into the various networks under the OpenDeFi consortium will be hugely beneficial to the whole ecosystem. It will allow OpenDeFi to enable insurance coverage for digital assets in their platform. Users will be able to buy insurance with a click of a button by paying a small premium.
By using the Tidal model, Open DeFi will be able to adequately protect the Open DeFi alliance and smart contracts created on their individual platforms. Tidal will help develop a mechanism that provides additional yield as the insurance/their incentive can be built in.
As Tidal Finance evolves and develops sophisticated mechanisms, OpenDeFi members will continue integrating them into its yield optimization features.
Open Finance by OroPocket is bridging the gap between physical assets and DeFi. It is tokenizing real world assets which are 100% insured, backed by an actual physical asset and held by a custodian. OroPocket is 100% asset backed banking without the insidious, hidden charges and time consuming tedium that come with traditional banks. Invest into multiple asset classes, grow your wealth, enjoy 100% liquidity.
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 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