Tidal and the Oasis Foundation have partnered to connect Tidal’s insurance protocol with the Oasis Network
The Oasis Network will be integrated with Tidal’s cross-chain insurance mechanism. In tailored liquidity pools, Tidal Finance provides insurance coverage for a variety of assets.
DeFi users can buy and sell over-leveraged covers on their platform, allowing them to hedge against the failure of any DeFi protocol or asset. As the Oasis Network’s DeFi ecosystem grows, technologies like Tidal will become increasingly important in guaranteeing that investors may benefit from a new class of privacy-enabled financial vehicles while reducing their risk exposure.
Tidal’s protocol will be used to provide asset coverage for lending protocols and DEXs that will be integrated into the Oasis Network.
This integration will provide more than just insurance capabilities. Tidal will be able to explore expanding their claims process to include anonymous, democratized voting on claims processing with their community thanks to the Oasis Network’s unique ability to keep smart contracts and their data confidential. In other words, their community could vote on whether a specific claim should be approved while maintaining privacy.
Oasis is looking forward to the future of this partnership and is excited to welcome Tidal to the Oasis family. Their addition to the Oasis Network’s growing list of DeFi partners brings Oasis a step closer to realizing their vision for a responsible data economy.
About Oasis Network
The Oasis Foundation is an organization dedicated to the growth and ecosystem of the Oasis Network. The Oasis Network is the first blockchain network with privacy features for open finance and a responsible data economy.
About Tidal Finance
Tidal Finance ensures the safety of DeFi by insuring assets across chains in custom-balanced liquidity pools. Users can create risk pools with Tidal by selecting any combination of protocols/assets and their coverage parameters (premium, cover period, etc). Liquidity Providers, on the other hand, can invest in pools that are appropriate for their risk/reward profile.