Unslashed Launches Decentralized Insurance Platform with Asset Policies Over $1 Billion in Cryptocurrency

Unslashed has sold over $1.23 billion in different protocols and policies.

Decentralized Insurance Protocol Unslashed announced on June 3 that it will launch a decentralized insurance platform for the DeFi protocol. The Unslashed decentralized insurance platform supports exchange policies including Coinbase, Binance, BitMEX and others, as well as DeFi protocols such as Synthetix and Bancor, covering more than $1 billion in virtual assets.

Unslashed, a decentralized insurance protocol, has sold different insurance policies for multiple protocols, with a sales value of over $1.23 billion. Users of crypto platforms will be able to protect their assets against losses from common risks in the crypto market through Unslashed.

Total losses from significant cryptocurrency theft, hacks and fraud in the blockchain market were $432 million at the end of April 2021, of which $240 million (55.4%) was directly linked to DeFi hacks or fraud. As Bitcoin, Ether, and other popular cryptocurrencies continue to increase in value, these statistics are expected to show a linear increase and highlight the increased need for insurance for DeFi and the cryptocurrency economy as a whole.

Unslashed has introduced insurance options for personal and institutional accounts on centralized exchanges (such as Coinbase, Binance, and Bitmex) and DeFi protocols (such as Synthetix, Balancer, and Bancor), providing insurance against incidents such as exchange and smart contract hacks, verifier attacks, stablecoins, oracle failures, and more.

Marouane Hajji, founder of Unslashed, said, “Many cryptocurrency users are unaware of how the industry differs from traditional finance. While many de-neutralized exchanges have insurance mechanisms in place to protect against hacking or theft, the reserves are usually only enough to cover a small percentage of affected users, so it’s the user’s responsibility to protect their assets. At Unslashed, we are pleased to introduce a variety of insurance products covering centralized exchanges, DeFi protocols, stablecoins, and more.”

In Unslashed, two types of clients can use the protocol: capital providers and policyholders. Insurance capital is provided by investors willing to underwrite a variety of risks and build a diversified portfolio to earn uncorrelated returns, while any individual who needs insurance can request it. The capital provider can also be the policyholder and vice versa, and Unslashed diversifies the capital provider’s risk across as many verticals as possible. This level of diversification allows capital providers to hedge extensively, ensuring that they receive a consistent premium return.

Unslashed can protect against a variety of blockchain risks while maintaining true diversification through an unbiased claims review process, decentralized governance tokens, and the most comprehensive set of community-driven policy offerings. In this release, Unslashed also introduces a capital efficiency model for insurance protocols and natively integrates an asset management layer. Backed by 32,000 ETH (approximately $100 million equivalent), it allows deposit capital to earn DeFi returns on top of standard premiums and mining returns.

About Unslashed

Unslashed is a decentralized insurance protocol covering all common risks in crypto assets. unstrashed gives insurance buyers and risk underwriters almost instant access to liquidity, ensures ongoing collateralization, and guarantees transparency through an unbiased claims process.

By tagging coverage and using “money flow”, it allows for maximum flexibility and freedom: the insured pays on a volume basis and can immediately stop the policy at any time and can unload it.

Unslashed has sold over $1.23 billion (308K ETH worth) in different agreements and policies.

Insurance without bureaucracy is not going to take a hit.

For more information, please visit: https://www.unslashed.finance

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/unslashed-launches-decentralized-insurance-platform-with-asset-policies-over-1-billion-in-cryptocurrency/
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