SECURING THE FUTURE OF FINANCE — STEADY STATE PROJECT.
Hello all, my name is kokosan.
so, The presence of Steady State can give you a big advantage in the crypto market, with a promising concept, quality products, and an experienced team needed in the role of developing blockchain projects. let’s join us!
Steady State gives DeFi protocols and platforms a practical solution to safeguard their financial future. With the help of Chainlink Keeper technology, our platform aims to eliminate bottlenecks in DeFi insurance by using automated processes, shared coverage policies, and a cutting-edge risk analysis database. Steady State is creating a new paradigm for decentralized insurance by delivering DeFi’s best-ever insurance platform for protocols.
What advantages can blockchain cover bring to the industry?
Credibility. Blockchain innovation in insurance provides a single source of truth via its tamper-proof, decentralized, transparent, and resistant nature. Blockchain cover will normalize confidence in crypto market operations.
Blockchain cover encourages a greater pool of investors. Without blockchain cover, any risk event would disrupt blockchain platform operations, whereby compensation from insurance secures protocols from catastrophic events. Exchanges remain liquid, protocols have operational crypto, and users retain their portfolios despite risk events. Subsequently, investor confidence in crypto markets increases. This materializes in bolder, riskier investments.
Successful execution of blockchain cover will disrupt the traditional insurance and cause a market shift to decentralized insurance protocols. Therefore, blockchain cover advances decentralized insurance adoption by disrupting legacy institutions.
Which protocols offer blockchain cover?
Steady State
Steady State is a comprehensive DeFi insurance solution protecting users, securing platforms, and reshaping thoughts on risk and reward. We define our insurance products using deep, quantitative data analysis and complex risk modeling delivered through automated smart contracts, supported by a governance DAO and a fully liquid secondary market.
Our combination of coverage pools, index pools, and an automated network delivers comprehensive blockchain cover unlike any other. We create an avenue for users to cover protocols directly in return for insurance coins (native coins of the protocol covered). Our platform has integrated with Chainlink Keepers to obtain accurate data.
Nexus Mutual
Nexus Mutual is an insurance provider offering users protection or cover of their DeFi activities. Nexus Mutual tackles smart contract vulnerability. Its Smart Contract Cover provides users with cover against losses similar to those experienced during the 2016 DAO hack.
Bridge Mutual
Bridge Mutual is a decentralized, discretionary p2p/p2b insurance platform that provides coverage for stablecoins, centralized exchanges, and smart contracts.
Frequently Asked Questions
Will blockchain cover disrupt traditional insurance?
Advantages from blockchain cover will help disrupt traditional insurance by reducing friction in business processes. Easy data reconciliation and improved transparency attract more users to blockchain cover and provide comparable alternatives to legacy market institutions.
How does blockchain cover benefit the industry?
Growth and maturity. Blockchain cover attracts investors by providing a safety net against risk events. It protects against losses common after risk events.
Can I get blockchain cover for Bitcoin?
Blockchain insurance cover for Bitcoin is available through decentralized options. Cryptocurrencies are not legal tender; thus, there’s no FDIC cryptocurrency or FDIC insured crypto exchanges. You can obtain Bitcoin insurance from trusted blockchain insurance applications such as Steady State, Cover Protocol, and Nexus Mutual.
What makes a suitable blockchain cover protocol?
Blockchain users have diverse needs requiring tailor-made solutions. Offering elaborate, reliable, and diverse insurance options to satisfy consumer needs make a suitable blockchain cover protocol.
What insurance companies are using Blockchain technology?
Fidentiax, a blockchain market for trading insurance policies, launched its product for insurance policies in 2018.
Lemonade combines blockchain with artificial intelligence to offer insurance at low prices.Etherisc, an insurtech company using blockchain’s validation and user transparency to automate its claims process.
Conclusion
Steady State was founded on the belief that decentralized finance deserves a better insurance solution. Risk factors such as flash loan exploits, hacks, and stablecoin de-pegging subject the DeFi market to unpredictable, catastrophic losses, and their effects are exacerbated by the low percentage of insured assets (less than 2% of DeFi’s overall TVL). This is a source of discomfort for market participants and discourages adoption by retail and institutional investors.
Liquid insurance markets will accelerate DeFi’s growth and promote its adoption by institutional players who require scalable solutions for risk management. Insurance is a hallmark of a mature market, we believe it’s not a question of whether widely adopted coverage comes to DeFi, but when. Steady State is here to provide industry-leading, dedicated insurance for protocols that reimagines risk management from the ground up.
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AUTHOR
Forum Username: Kokosan
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=2451027
Telegram Username: @a_tsk
BSC Wallet Address: 0x427a9f43d7dBD2F926B061F7283FDC0bDde388d2
