DeFi Risk Coverage Platform Update
Ecosystem overview December 17, 2021
As we approach the end of the 2021, summary reports are emerging, detailing the losses incurred over the past year from hacks, rug pulls, smart contract failures and more. With increasing losses of $10.5 billion in 2021, compared to $1.5 billion in 2020, taking measures to protect your digital assets is as important as ever.
This is our last overview of the DeFi coverage ecosystem of 2021. Over this year we have seen the launch of InsurAce and Bridge Mutual; the enormous growth of Nexus Mutual; and the rebranding of Cover Protocol.
Looking forward, Bright Union is excited to continue to collaborate with existing partners and bring new ones into the community. The main block in the whole market at the moment is the lack of available capital to underwrite the claims, with popular protocols (like Anchor) or stable-coin de-pegging often sold out.
In the new year Bright Union is excited to release the Bright Risk Index, a diversified investment tool. Not only will this offer attractive APYs to investors, but it will provide more liquidity to be utilized by those wishing to buy coverage. Stay tuned!
- Bridge Mutual increases in active cover, cover liquidity and market cap, potentially due to their V2 release earlier this month.
- ArmorFi and InsurAce both increase their active cover amount.
- Nexus Mutual market cap hovering just below $1B .
Nexus Mutual Top 3 protocols covered:
Bridge Mutual Top 3 protocols covered:
Insurace Top 3 protocols covered:
About Bright Union
Bright Union is the world-leading multi-chain decentralized finance cover marketplace. Our mission is to safeguard your digital assets from hacks, smart contract failures, and rug pulls by empowering the crypto community to cover one another in a decentralized and permissionless manner.
Bright Union provides the most comprehensive range of crypto insurance on the market at competitive prices. Furthermore, Bright Union will soon release its unique suite of cutting-edge risk solutions, providing investors with outstanding investment and coverage opportunities. Be bright and take advantage of DeFi’s exponential growth.
Join the Union
Be Bright and #JointheUnion. Receive announcements by joining the community.
🌍 Check out the website.
🗞️ Get the latest news on Twitter @BrightUnion.
📺 Watch tutorials on Youtube
📸 Follow us on Instagram