DeFi Risk Coverage platform update

Bright Union presents the bi-weekly update of the ecosystem in DeFi risk markets. This article aims to introduce the overview landscape and share knowledge collected around several of the most major protocols.

With recent hacks of CREAM finance, Bilaxy and xSNX resulting in potentially losses of over $44m in total, there has never been more reason for users to protect their digital assets and buy coverage. Bright Union’s expectations are that active coverage will increase for all partners who are currently offering these products.

Highlights

  • The active cover amount of ArmorFi has increased from $94m to $133m, an increase of around 41%. This may be a result of their most recent initiative of a referral programme for increased income.
  • After Nexus Mutual’s recent explosion in active covers earlier this month, the amount of active covers has decreased slightly from $525m to $492m.
  • InsurAce increased active covers from $20m to $25m.

Nexus Mutual cover liquidity seems to have decreased significantly from the last update. However, this was due to an error on our part resulting in an inflated figure.

What information are you interested in?

Join our telegram community and share your thoughts

About Bright Union

Bright Union is launching the world’s leading aggregator and accelerator for the crypto risk markets. Our mission is to make the crypto risk markets work. On our decentralized crypto coverage platform, crypto users can cover their assets, stake and cover the community, and earn guaranteed yield through Bright Staking with embedded coverage.

Join the Union

More updates are coming soon! Receive announcements by joining the community.

🌍 Check out the Website.

🧠 Learn More: Read more in the Litepaper.

🤝 Bright Union Community: Discuss Bright by joining Telegram.

🗞️ Get the latest news: Follow our twitter @BrightUnion.

📸 Follow us on Instagram

💎 Become a Bright Union Ambassador and win 5000 Bright Tokens, worth of $500! Participate in the Bright Union Ambassador Program.

--

--

--

Web3 Insurance marketplace that allows DeFi users to to buy and provide coverage against hacks and protocol failures.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Why Security Tokens Like NYCREC Are The Future of Crypto

AMA RECAP _ CRYPTO MONSTERS COMMUNITY HOSTS Doni Coin .

Taking Blockchain On-Stage: Throwback to MICHI @ Cafe Berlin

Earning cryptos for free!? Is it still possible?

‘Curve Wars’ are Heating Up 🔥

Retrospective: The Dodgems Incentivised Testnet Crash

Popes, Banks, Merchants, And Prosperous Financial Models

A STORY ABOUT AN INSPIRING WOMAN:AWAIT THE BIG CHANGE.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Bright Union

Bright Union

Web3 Insurance marketplace that allows DeFi users to to buy and provide coverage against hacks and protocol failures.

More from Medium

Are Crypto Wallets Really Secure?

It is interesting to see how FinTech has evolved in recent times, and every moment, new FinTech…

Venice Swap; A New Crypto Exchange Concept

Whitepaper — otter protocol, Solve NFT Liquidity Solutions