We are pleased to announce a partnership with Tidal Finance, a high yield insurance platform for DeFi markets. Tidal Finance’s cross-chain insurance protection is another way PolkaFoundry is lowering the risk for DeFi dApps and their users in the interoperable Polkadot network.
- Tidal Finance will be providing insurance coverage for the DeFi protocols and assets within the PolkaFoundry ecosystem.
- PolkaFoundry will benefit by lowering risk through Tidal smart contract insurance protection by setting up customized insurance coverage pools.
- The DeFi community on PolkaFoundry will benefit from the ability to hedge the risk of failure of any DeFi protocol or asset.
Among investment risk management tools, investors have few insurance options for hedging the myriad of investment risks in traditional and decentralized financial markets. As a one-stop production hub for dApps building on Substrate for Polkadot, PolkaFoundry lowers risk by providing a stable, frictionless environment for borderless finance. Through the Tidal Finance mutual cover protocol, DeFi dApps will be able to additionally hedge against any protocol or asset risks faced within the PolkaFoundry ecosystem.
Tidal Insurance is making DeFi and the Polkadot ecosystem safer through the first customizable smart contract insurance product. Tidal’s insurance will provide a new layer of security for PolkaFoundry through insurance pool coverage. dApps deploying on PolkaFoundry, in turn, will be able to lower risks for their users with protocol and asset risk management protection.
Through Tidal insurance’s ‘Balancer-like’ capabilities, PolkaFoundry can choose customized risk pools that match its risk tolerance and tailor the coverage options through protocol and asset filters. Liquidity providers, meanwhile, can invest in pools according to their risk/reward profile.
Together, the PolkaFoundry-Tidal partnership lowers the risks of DeFi posed by hacks, malicious actors, and other unforeseen risks to DeFi assets. Both PolkaFoundry and Tidal solutions were purpose-built for cross-chain ecosystems like Polkadot. If and when the risk of loss to a protocol or asset does occur, Tidal’s tailored insurance coverage provides protection.
By collaborating to make DeFi safer, both PolkaFoundry and Tidal are advancing their efforts to promote user confidence and liquidity in DeFi to accelerate DeFi mass adoption. Both teams have committed to exploring other DeFi risk management options for cross-chain DeFi applications in the future.
ABOUT TIDAL INSURANCE
Tidal Finance makes DeFi safer by providing insurance coverage for assets across chains in custom balanced liquidity pools. With Tidal, Users can select risk pools by choosing any 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.
PolkaFoundry is a platform for building borderless and frictionless DeFi dApps on Polkadot. It aims to be the one-stop production hub for DeFi dApps with all the necessary features, services, integrations, and tools for DeFi experiments, innovations, and real-world solutions. Taking advantage of the interoperability and scalability of Polkadot as well as integrating many DeFi-friendly services into the platform, PolkaFoundry also provides UX-enabling features that make dApps as easy to use as normal applications and bring dApps to the masses.
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