DeFi users are profiting from lower prices for DeFi insurance

DeFi investors can now get covered against hacks and protocol failures for <1% annual rate

Bright Union Sales Update

$2.88m in covers were sold over the past month for Bright Union, with over $2.83m for Nexus Mutual (with the remaining $50k for InsurAce).

Source: https://app.brightunion.

Crypto Markets Recovering

After the Luna UST de-peg crash market sentiment was down. Investors scrambled to secure their portfolio in whatever way they could. As protocols were falling like dominos, HODLing was safer than staking.

DeFi hacks not stopped by bear market

Crypto investors are resilient to what feels like a continual barrage against them. If it isn’t hard enough to protect their portfolio against catastrophic market failures, they still have to contend with the billions of dollars lost in hacks. DeFi and Web3 have seen $2 billion lost in Q2, according to CertiK.

What does this traction mean for the wider crypto space?

Insurance, audit, and other security tools are necessities for bringing crypto into the next stage of maturity. Regulators have a duty to protect consumers. However, Bright Union believes that the space should have the opportunity to self-regulate with tools built upon the same foundation. With every cent put into insurance and other security protocols, the entire crypto space becomes more secure and more trustworthy.

About Bright Union

Bright Union is the world-leading multi-chain decentralized finance cover marketplace. A platform to aggregate and match supply and demand, it also accelerates the industry by providing strongly needed insurance liquidity.

Join the Union

Be Bright and #JointheUnion. Receive announcements by joining the community.

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Bright Union

Bright Union

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