Hyve Partnership With Bridge Mutual To Offer Coverage For Task
A DeFi centric autonomous ecosystem built on top of the multi billion workforce industry Hyve has been partners with Bridge Mutual a decentralized, discretionary insurance application.
The HYVE Protocol is a new and sleek way to implement external tasks that, by nature, are self-verifiable. An AI could post a job for people to train it, you could create your specialized micro-task platform using the Protocol, the possibilities are literally endless.
At the epicenter lies the $HYVE token, an ERC777 asset that is backwards compatible with the ERC20 standard, coupled with the governance and staking functionalities of the ecosystem.
By being integrated with Bridge Mutual there were some assesstment process to be reconsider:
- a reputation system modifies voting power
- rewards and punsihment are given based on voting history
- voters that collude and vote dishonestly can have their stake burn
- claims undergo a thorugh 3-phase crowd voting mechanism
- votes last for 3 days and there are 10 days between voting between voting phases
The entire idea is that any task on HYVE can be covered as long as people are willing to pay the necessary premium to cover that specific task/contract.
“We are very happy to integrate Bridge Mutual into HYVE, as we think that providing the possibility of getting coverage for specific tasks and/or contracts is very much necessary in order to offer a truly safe environment for freelancers to work together without worrying about anything else other than their jobs.”–Tudor Stomff, CEO of HYVE
The HYVE team is currently considering offering a coverage pool in DAI for potential claims made on the HYVE platform.
“Hyve’s take on the future of freelancing and contract work is as radical as Bridge Mutual’s vision on the future of insurance. We’re ecstatic to be collaborating with visionaries of this caliber, the fact that there’s so much synergy between our ecosystems is just icing on the cake. Really looking forward to seeing what we can do to provide coverage to the value pools of tomorrow’s work force.”
ABOUT HYVE
HYVE is a DeFi centric autonomous ecosystem built on top of the multi billion workforce industry. The HYVE Protocol is a new and sleek way to implement external tasks that, by nature, are self-verifiable. An AI could post a job for people to train it, you could create your specialized micro-task platform using the Protocol, the possibilities are literally endless.
ABOUT Bridge Mutual
Bridge is a decentralized, discretionary insurance application. It is is built on Ethereum, but can cover anything from any other supported chain.
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