Insure is a fully-collateralized permissionless insurance protocol. It protects Defi users by providing a coverage policy for hedging against the devaluation of crypto assets, and it enables underwriters to earn interest safely on their stablecoin holding. Insure makes DeFi accessible to everyone, covering crypto owners when their assets lose value significantly in either a highly volatile market or due to a hack or exploit. To get covered, you can buy a policy from Insure!
Prodct Categories: Decentralized Insurance Dapps
Founded in 2017 by Hugh Karp, Nexus Mutual is an alternative to insurance for Ethereum users. Members can buy coverage to protect against material losses whentransferring funds into a protocol’s smart contracts or keeping funds with acustodian. Nexus Mutual is a discretionary mutual. Each member holds NXM tokens, whichrepresent proportional ownership of the mutual. Members are responsible forgovernance, capital provision, and risk and claims assessment.
Founded by Nikita Buzov in 2020, Solace is a decentralized insurance protocol that is on the Ethereum, Polygon, Aurora, and Fantom chains. Solace’s insuranceprovides protection to individuals, protocols, and DAOs. Users can insure all their portfolios simultaneously in a single payment with the best prices available through Solace’s dynamic and open risk rating engine.The pay-as-you-go structure continuously calculates risk and charges users basedon a score.
InsurAce.io started in April 2021 as a decentralized protocol that safeguards blockchain users’ activities with cover protection through a portfolio-basedapproach. The insurance covers 60+ protocols on 8+ chains. Their optimized pricingstrategies make their costs up to 60% lower than other protocols, while reducinggas fees by up to 50%.
Unslashed is a decentralized insurance protocol that mitigates risks on cryptocurrency assets. The platform provides insurance on exchange and smart contract hacks, validator slashing, stablecoin pegs, and oracle failures.Unslashed also tokenizes coverage to allow users constant collateralization andease of liquidity. Policies can be stopped at any time and are helpful to bothinsurance buyers and risk underwriters.
A novel peer-to-peer insurance protocol in which losses from hacks are distributed throughout the entire ecosystem, resulting in pure risk-sharing without premiums, leverage, or maintenance. Enjoy full-stack coverage, that is cheaper than the standard premiums charged by other insurance protocols. Popular protocols protected by Ease, include, Sushiswap, AAVE, Compound, Convex, Curve, Yearn, and more.
Founded in 2021, Sherlock is a smart contract coverage protocol and audit marketplace built on the Ethereum blockchain. Working to keep Decentralized Finance (DeFi) users from smart contract hacks and exploits, Sherlock uses reviews by top security experts backed by smart contract coverage to ensure a more reliable and safe experience in the crypto space.
Bumper is a risk-management DeFi protocol built on Ethereum. Users participate as liquidity providers and those looking for protection pay a premium. Asset price risk is transferred via their stablecoin reserve through cascading redundancy modules. Bumper helps users eliminate some amount of price risk for their crypto assets in a purely decentralized fashion.
TIDAL is a decentralized insurance protocol that allows users protection on the possible failure of a protocol or asset. Tidal consists of cover (insurance)buyers and reserve providers and uses peer-to-pool lending to provide the bestrates. This system attracts both reserve providers and buyers, since buyers paya lower premium and lenders feel secure in their investment.