Roadmap update for Bright Union in 2021
While the crypto market has lost most of its hype compared to earlier this year, numerous projects and developers are ramping up the speed of development. When we take a look at Decentralized Finance in particular, it continues to disrupt the traditional financial sector at an unprecedented rate, with great, yet risky developments unfolding. This shows potential for advancements in the crypto coverage sector that enable users to have more control over associated risks.
Accelerating DeFi’s mainstream acceptance
Looking to make DeFi a safer environment to operate in, we at Bright Union are exhilarated about all the things that are coming your way at an accelerated rate. Today we will share our plans with you as we bring forward our roadmap for 2021.
While we are making headway towards bringing you a fully fledged risk comparison application, the crypto coverage ecosystem is expanding with a variety of risk protocols. In essence by partnering up with these risk protocols, our aim is to help you, the users make sense of crypto coverage and be able to manage crypto risk effectively.
We dare say we are 90% delivery and 10% promise — we have been working extremely hard under the hood and are super excited that we can shortly share with you and with the rest of the crypto community what we have built..
Are you ready? Let’s take an indepth look at what you can expect from Bright Union in the near future…
Watch out for the BRIGHT Token
Q3 is a super exciting time because there are many developments finally rolling out. We will commence with the Token Generation Event, to be expected in late July or early August. The moment we’ve all been waiting for! The BRIGHT token will take the scene as 110 million tokens will be minted. But there’s more excitement…
Read more about the BRIGHT token economy.
We will soon announce our IDO where you’ll have the chance to participate and gain early access to these tokens. Be careful of scammers and make sure to only follow our official announcement channels. One of the ways we aim to reward our community members for their help in growing Bright Union is by reserving 27.8% of tokens for their benefit.
The creative contest for BRIGHT rewards just ended and the winners will ben announced shortly, but you can participate in our Ambassadors Program where we are hosting a giveaway of 250,000 BRIGHT tokens.
Stake your BRIGHT
With no time to waste, we will launch the BRIGHT Staking functionality 1–3 days after the IDO where $BRIGHT holders can stake $BRIGHT and earn yield. On top of being rewarded as early adopters, stakers benefit from the revenues that we immediately start earning after the product launch in August. You can choose to either stake on our native platform or on Uniswap.
Get Ready for the Launch
Some of you have been lucky enough to take a little peek into the testnet of the Bright Union interface. Others will have to wait, as we finalize integrations and testing rounds for the mainnet launch. The wait is nearly over! In August, we will launch the Bright Union application comparing at least two, but we are aiming for three, risk protocols, and you can then expect to buy and sell coverages directly on Bright Union marketplace. You will be able to access the platform through Metamask.
Recently, we have successfully integrated with Nexus Mutual’s platform. We are finalizing the integration with Bridge Mutual’s protocol, of which the mainnet went live on the 8th of July. Further down the pipeline, we are looking to bring in Cover Protocol and InsurAce Protocol.
Making the Complex Simple
It’s an intricate process, creating these integrations, as every protocol has a different architecture, pricing model and reward system.
These differences among platforms is what makes each unique and interesting. However, it is also hard to compare and communicate between products. In order to access and utilize the wide variety of crypto coverages from our platform, it is essential to find commonalities and integrate functionalities of the various protocols. As such, we create a much needed link between products, allowing liquidity to flow freely and simplifying interactions for users.
Bringing these integrations into reality will be a huge challenge, we know. But the knife cuts both ways. By realizing this challenge, the crypto community enjoys a unified interface to explore and manage crypto coverages. In Q4 we are going to focus on improving conversion and incoming traffic. We are supported by the best online marketeers and growth hackers in the market with a wealth of experience in both crypto and in aggregators of traditional insurance products. More traffic and higher conversion lead to improvement of our key metric: The number of risk covers bought and staked through our platform.
Becoming the Best Aggregator in the Market
The version of our aggregator, which launches beginning of September, will have all the basic features in place to enable our users to buy and sell crypto covers. With continuous improvement through testing and user feedback, we will further enhance our platform. Bringing the best features of traditional insurance to crypto coverage, we will create a user-centric platform on steroids.
Following the mainnet launch, we expect to finally roll out key functionalities of Bright Union in September, namely the Bright treasury with its funds and indices.
The Treasury Thrives
The Bright treasury is the most interesting part of Bright Union because it will be fully managed by the DAO members. Also its features will be key in supporting risk products/ the ecosystem with liquidity and making coverage both cheaper and more profitable for users.
The Bright treasury facilitates the following pools:
- A staking pool where you can stake Ether, DAI and BRIGHT in order to receive pro rata profits and growth incentives.
- A liquidity pool where decentralized insurers can trade risk positions.
- An investment pool which invests in indices each consisting of a number of staking positions.
The investment pool allocates funds to indices tailored to different risk appetites and serves to provide the best balance between risk and capital return. Users can choose to invest directly in these optimized indices. But more interestingly, they can gain indirect exposure by investing in the accelerating Treasury and profit from the growing capital efficiency and accumulated fees.
More to Follow Soon..
We are excited about the direction DeFi is going in, and the key role crypto coverage will play to facilitate mass adoption. The current developments in the crypto coverage ecosystem are just the foundation for what’s to come in the near future.
Taking a look into the crystal ball, Bright Union will act as a central flywheel driving DeFi crypto coverage forward, unifying crypto coverage as a leading aggregator as well as a liquidity tower, pumping capital through the ecosystem.
Our developments in Q3 and Q4 as mentioned above, are building blocks laying the foundation for Bright Union to be the most effective platform to manage crypto coverage from a unified interface.
We bring the best together — We make the complex simple.
Let’s take control and join the union.
About Bright Union
Bright Union is building the world’s leading aggregator and accelerator for DeFi crypto risk markets. Our mission is to make the crypto risk markets work. On our Decentralized Crypto Coverage Platform, our future community can compare and buy coverage, stake and earn by covering the community and last but not least join the Bright Union staking pool.
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