YIELD App x Steady State Partnership
YIELD App x Steady State announced partnership, so YIELD App is supporting Steady State with the view to becoming one of its first customers.
Steady State will allow anyone to participate in its insurance ecosystem, with users of any size able to stake assets inside the coverage pools of individual protocols in return for a premium. While these assets are locked, users will be able to trade their stakes on a secondary market, facilitating a fully liquid environment that can support and strengthen the entire protocol.
Holders of Steady State’s native token will also be able to participate in governance of the protocol, allowing for a comprehensive arbitration system able to assess and process a multitude of claims. Token holders will be able to earn additional tokens through liquidity mining incentives and by staking on the protocol once launched, and also earn rewards based on a percentage of fees earned by the entire protocol.
Steady State’s risk-based approach mirrors methods found in traditional insurance markets, where a full and complex understanding of risk allows institutions to provide adequate cover for providers and their customers.
Utilizing the tools of DeFi, however, Steady State will create a rewarding, 360-degree ecosystem in which users are able to become stakeholders at any insured platform. Secondary trading opportunities will further strengthen the Steady State offering and help to support the entire ecosystem.
Jonathan Libby, CEO and founder of Steady State, comments: “Steady State is what every member of the DeFi community has been waiting for: an insurance product that understands and can accurately price the risks faced by platforms and their users. It shouldn’t be down to individuals to cover their assets in arbitrary pools — we need a system that looks a lot more like traditional finance to help reach everyone that stands to benefit from the new economy emerging on the blockchain.
“We have been working closely with YIELD App from our earliest stages and will continue to do so over the coming weeks and months to develop and deliver a product we believe will break new ground in DeFi and cryptocurrency more widely.”
What is Steady State?
Steady State is a cutting-edge insurance protocol that is set to transform the DeFi and cryptocurrency protection landscape.
What isYIELD App?
YIELD App offers the easiest way to invest in DeFi using crypto or traditional currencies, regardless of your financial or technological level of expertise.
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