Don-Key Finance: First DeFi Asset Manager to offer in-App Insurance
Don-key Finance, a social platform for Yield farming, is collaborating with Bright Union to bring DeFi insurance to their users.
Yield farming is the practice of staking or lending crypto assets in order to generate high returns or rewards in the form of additional cryptocurrency. Don-key finance is the first DeFi asset manager to offer an investment farming strategy, which is totally protected from hacks.
This partnership will set the gold standard for safety in investing in farming protocols throughout the entire DeFi ecosystem. Bright Union and Don-Key hope that this partnership will encourage more crypto investors to step into DeFi.
Don-Key continues to lower the barrier for Defi farming
For many Defi power users, yield farming is one of the most lucrative ways to generate high returns. With a TVL of more than $15m, Don-Key’s unique offering is proving popular.
The platform is reducing entry barriers for users with low investment funds, and those who don’t have the time to master the art of DeFi investing. Novice investors can participate in the strategies designed by experienced farmers. Don-Key offers investment strategies with APYs (annual percentage yield) in the region of 30–180%, which make it an attractive activity for investors looking to make high returns.
To make yield farming even more interesting, Don-key will release a yield farming strategy that is entirely protected against hacks by Bright Union.
Embedded Insurance for yield farmers
Yield farming is extremely popular, but high yields go hand in hand with high risks. The protocols, through which the farmers’ money flows, are continuously at risk of being hacked. The total losses from the DeFi industry from risk events surpassed $1bn and are increasing every day. CREAM finance’s flash loan attack and bZx are just two examples of recent exploits that cost the community big time.
Don-key answers into the communities’ increasing demand for security. By offering an investment strategy with embedded insurance from Bright Union, yield farmers are protected for all the underlying protocols at once and the cost will be deducted from the total yield, meaning no out of pocket costs.
Aiming is to make DeFi a safer space, Bright Union — the 1Inch for decentralized insurance developed a SDK (software development kit) to make it easy for wallets and DeFi protocols like Don-key to fully integrate with the biggest names in DeFi coverage (Nexus Mutual, Bridge Mutual and InsurAce), making it a no-brainer for yield farmers to protect their digital assets.
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.
🤝 Discuss Bright by joining Telegram or Discord
🗞️ Get the latest news on Twitter @BrightUnion.
📺 Watch tutorials on Youtube
📸 Follow us on Instagram
