Tidal Finance Partners with Polkalokr to Integrate Token Locking Mechanisms and provide Decentralized Insurance

Tidal Finance is thrilled to announce its partnership with Polkalokr, the first all-in-one, multi-chain token locking and escrow platform with built-in privacy functionality. Polkalokr offers two innovative solutions: LOKR, the most versatile, multi-chain token escrow in the world, and SWAPR, a P2P cross-chain token swapping protocol.

Tidal Finance is making DeFi safer by building a high-yield insurance platform that allows users to buy and sell decentralized insurance coverage for assets and smart contracts across multiple chains.

Through this partnership, Tidal Finance will implement its risk coverage solutions to Polkalokr while integrating the latter’s locking mechanism into its ecosystem.

Making DeFi safer with Lokrs, Swaprs and Mutual cover pools

Polkalokr is restoring trust & simplicity to complex token ecosystems by creating a multi-chain token escrow platform that puts token distribution into the hands of network participants through governance-as-a-service. Powered by Polkadot, the cross-chain token escrow mechanism, LOKR, enables event-based distributions via Oracle fees and monetization of locked tokens.

Tidal Finance makes DeFi safer by providing insurance coverage for assets across chains in custom balanced liquidity pools. Tidal lets users 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). At the same time, liquidity providers can invest in pools that suit their risk/reward ratio.

This partnership will be extremely useful to both ecosystems, with platform users being the ultimate winner as security levels of both Tidal Finance and Polkalokr would go up a notch. Tidal Finance will implement its asset risk coverage protocol to the Polkalokr ecosystem in order to protect the platform users from malicious actors or hacks. The mutual cover pools will ensure Tidal acts as the last layer of security by fully covering the loss of any assets or value for a small fee.

Concurrently, Tidal Finance will also explore Polkalokr’s unique offerings of multichain escrow solutions and token locking mechanisms. This could bring in a new level of transparency and trust to $TIDAL token holders and communities. Polkalokr’s locking mechanisms are highly customizable, all the while removing the error-prone human facet from the system.

The two parties will work closely together as they share the mission of Making DeFi safer and encouraging widespread adoption of blockchain.

About Polkalokr

Polkalokr is the first all-in-one, multi-chain token locking and escrow platform with built-in privacy functionality. Its products, LOKR and SWAPR, help build trust within the Defi space by removing the human element and focusing on governance through code, with a seamless, omnichannel digital experience platform.

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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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