Recap AMA Alt Coin Alerts x Bright Union

Yes sure, I’m Cynthia | Bright Union- Marketing lead, w/ +10 years experience, tech enthusiast + tree hugger. Started in the social good sector, acquired the lean + growth mindset there. Now freelancer and loves marketing innovative concepts and scaling emerging ideas. Have been involved in crypto projects since 2017.

Hi I’m Alex C | Bright Union working in Business operations. I’m fresh out of university and so excited to be working for Bright Union as I’m a crypto enthusiast !

I”m Steven: Product manager. a corporate consultant turned Tech-nerd. My path went from working 70+ hours in a suit to building a digital healthcare ecosystem in Africa. and now in blockchain 🔥

YEs, let me share a bit on this:

the DeFi insurance space is growing and is finding innovative solutions for the most pressing risks in the community 🚀

Currently we offer:

Protocol hack and failure: Protects against hacks & failures of software which runs on a blockchain

Custodian: Protects against loss of funds or suspended withdrawals from wallets and centralized exchanges

Stablecoin depegging: Protects against the event when a Stablecoin looses its promised link to the underlying fiat currency

Yield depegging: Protects against loosing your invested amount and promised yield

IDO Event Risk:Protects against hacks & failures of newly released projects

In short you can insure yourself for hacks, scams and protocol fails.

We’ve achieved a lot since IDO!

TRIFOLD IDO SALE : 5 AUGUST trifold IDO on Paid Ignition, Poolz and Moonstarter sold out within 1 Hour ✅

BRIGHT STAKING : 10 AUGUST ~50% current supply staked ✅

MAINNET LAUNCH : YESTERDAY! — start comparing and buying the best DeFi covers✅

https://app.brightunion.io/

Mainnet Promo Demo

Future plans are the Bright Risk index, going multi-chain + providing coverage to the community by staking. We can elaborate on this later.

https://brightunion.medium.com/bright-union-roadmap-2021-e6a939dc981

🔥 The $BRIGHT token utility is for

1) Staking by users

2) Rewards / loyalty / discounts

3) Governance

the BRIGHT token is the core utility in the BRIGHT ecosystem

1). BRIGHT Tokens can be staked with Bright Union.

If you want to get your hands on some crazy APY’s check it out:

⚡️ Stake BRIGHT (56,6% APY)

⚡️BRIGHT/ETH @Uniswap LP #staking (383,6 % APY)

2). Bright members will get access to premium products & discounts and preferential access to regular products. The first premium product will be the Bright Union Index Tracker: Invest in index funds with maximum return at minimum risk 💪

3). Bright Union will be organized as a DAO. Members can do governance votes for changes to our protocol, the roadmap and treasury fund allocation.

BRIGHT tokens can be bought through Uniswap 🦄

https://app.uniswap.org/#/swap?use=V2&inputCurrency=ETH&outputCurrency=0xbeab712832112bd7664226db7cd025b153d3af55

The tutorial for who wants help:

https://www.youtube.com/watch?v=QsDpk4T0TII&ab_channel=BrightUnion

Yes! We will be the Stripe or Adyen for the DeFi insurance industry!

All the comparison you see now in our interface will be replicated in an on-chain protocol. All protocols and wallet’s like 1Inch, Avve, Coinbase can use our solution 🚀

We will help them to offer embedded insurance on their own platforms

If you looked carefully you would have seen it on our roadmap 😎

Custodians is a word which means Exchanges & wallets because they have “custody” of your tokens

This cover will protect you indeed if an exchange get’s hacked and funds are lost, but also if for whatever reason withdrawals are postponed for some reason (we saw this some times during the last bull market with some platforms)

yes we are all super excited for the Bright Risk Index

It was developed as part of the ETH Global HackMoney2021 hackathon and are scheduled to go live In October 2021. With the BRI we offer a diversified positions in the market and will ensure maximum return at minimum risk for crypto investors, and will greatly boost the liquidity for the entire crypto risk markets.

The key advantage of the BRI is that is diversifies your portfolio for you. saving you time from either manually diversifying or being subject to greater risk

Overview of relationship of cover and staking

In decentralized coverage you have 2 sides

on one side you can buy coverage. on the other side you can provide coverage (by staking on a certain protocol).

But if you stake on 1 protocol — you also accept the risk that this protocol might get hacked. So with the bright risk index, you can stake on a basket of risk protocols and diversify your portfolio

You can invest and in decentralized cover market while spreading your risk :)

We have a healthy captable of VCs, KOLs and “centralized” investors. Almost all investors came on a referral basis and we selected the final investors based on their potential value add to Bright Union. This has been very helpful so far. Some of our VC backers include Faculty Capital, Three M Capital, Tsukyiomi, Vendetta Capital, Altvestor & Master Ventures 🚀

We have 4 unique competitive advantages:

⏰Timing: We will build the first DeFi cover one stop shop to go live and will have the broadest offering of products at the best price!

👨🏼‍💻 Team: We have a heavily experienced team hailing from the traditional insurance sector and strong background in DeFi and are the right persons to make this fly.

🤝 Partners: We are very well connected within the space and have partnerships with the top 3 cover platforms on a weekly basis. They are actually happy we are here. We will become the Expedia of crypto coverage

🚀 Product development: Our main net is scheduled to go live 14 September, which means we are first to market ensuring that we can benefit from the optimal network effects

And in terms of features we have the broadest product offering available in the market: We offer over 130+ DeFi covers

This is true — insurance fraud does exist and people won’t get a refund if they are found to have done this!

As an aggregator we are selling the cover products of our partners Nexus Mutual, Bridge Mutual and InsurAce. The specific terms and conditions of the coverage are from these partners. But at bright union we make it easier to compare these details

Good question — in my opinion business model & revenue is too often ignored with crypto start-ups.

We have both a B2B & B2C business model.

B2B

1. Commissions we receive from underlying risk platforms for selling risk products to users.

2. Commissions we receive from underlying platforms for value add services such as re-insurance and provision of additional liquidity.

B2C

3. Commissions we receive from users for our BRIGHT products such as the Bright Risk Index and secondary markets

In addition: the Bright Treasury will increase in value in accordance with its performance in the risk markets. This will be a flywheel for our revenues streams as with a bigger Treasury we can offer more services which will increase our commissions and fees.

Commercial partnerships: These are partnership where we can offer embedded coverage through other wallets & protocols.

Yes, we had a community program, but this is finished and airdrops are distributed. the community helped us with providing cool materials like stickers, memes, video’s etc. Now we have an Ambassador program running, it wil run until the 20th of September, so only a few days to go.

https://gleam.io/competitions/lXz4Y-bright-union-is-looking-for-bright-union-ambassadors-and-is-giving-away-250000-bright-tokens

You can win up to 5000 BRIGHT tokens, that was $500 dollar — when our token was still 10 cents ;)

do the math:) It’s gonna be a good airdrop this one.

Steven, Cynthia & Alex during the AMA :)

About Bright Union

Be Bright — Join the Union

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Bright Union

Bright Union

7.7K Followers

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