Tidal Finance and EasyFi have partnered to offer multiple insurance products on the Layer 2 Defi ecosystem
DeFi, which is still in its early stages, is exposed to a variety of assaults and hacks, putting user cash at risk. As a result, a decentralized protocol is required to reduce the likelihood of such events. EasyFi will be able to provide multiple-level insurance coverage to all of its users and projects as a result of this agreement, boosting the multi-chain protocol’s and users’ risk mitigation capabilities.
The onboarding of Tidal Finance onto the EasyFi Ecosystem will:
- Provide insurance for our multi-chain protocol, making credit delegation and micro-lending services safer.
- Allow EasyFi users to pick and choose risk pools based on their risk tolerance.
- Allow consumers to customize their insurance needs to protect their investments by filtering through a mixture of assets and coverage terms (premium, cover period, etc.).
Tidal is the first DeFi insurance platform that is cross-chain. It’s an insurance market that’s similar to Balancer in that it allows users to construct unique insurance pools for one or more assets. Tidal provides insurance coverage for assets across chains in specially balanced liquidity pools, making DeFi safer. Users can choose risk pools based on their risk appetite and filter them using a combination of protocols/assets and coverage terms using Tidal (premium, cover period, etc). Liquidity Providers, on the other hand, can invest in pools that are appropriate for their risk/reward profile.
Easyfi is a scalability, composability, and adoption-focused universal layer 2 lending protocol designed for defi. It was created as an open and inclusive financial network infrastructure that runs on public networks and allows for end-to-end lending and borrowing of digital assets and related financial products. Easyfi is based on the principles of permission-less networks and smart contract automation.