Bella protocol x InsurAce Partnership
InsurAce is very excited to announce a new strategic partnership with Bella Protocol. Users of bella protocol will now have the ability to insure their staked assets against risks of smart contract hacks and bugs.
Bella is a suite of open finance products, including automated yield farming tools, BEL Locker, and Flex Savings. Bella believes everyone deserves equal access to premium financial products and services with elegant design and a smooth user experience, which brings familiar mobile banking into crypto with just one click users. With Bella, you can just simply sit back, watch your asset grow, and leave all the heavy-lifting to secure, automated smart contracts. At the time of this release, Bella had a TVL of $30 million.
Bella is one of the earliest protocols covered by InsurAce, and both teams have been working closely over the past few weeks to bring this to the Bella & InsurAce communities.
InsurAce will offer a special discount to Bella users buying covers on InsurAce, and Bella will also incentivise these users with BEL tokens. Meanwhile, Bella Protocol will buy cover from InsurAce to safeguard their treasury. Both protocols will also work closely in co-marketing and community building.
“InsurAce are very excited to be working with Bella, it is a very exciting project with a lot of potential, and we can offer their users competitive insurance for their assets. The fixed-rate interest model of Bella helps to further stabilise DeFi, and with coverage from InsurAce reduces any risks further which will inevitably lead to larger institutions adopting DeFi.” Oliver Xie, founder of InsurAce.
“Being an ex-actuary myself, I understand first-hand how crucial insurance is as a risk management tool, especially in the dark forest of DeFi. There are not many insurance products out there for DeFi protocols to choose from at this stage, and I can say with confidence that InsurAce is among the most trustworthy and best. User asset safety has been our top priority. Our product has been audited and gone through miscellaneous testing frameworks. By offering flexible and reliable insurance products to our users and potentially the whole Bella Flex Savings product, InsurAce now adds another layer of security to Bella products and this really makes me sleep better at night. I look forward to our partnership with InsurAce on multiple fronts.” Yemu Xu, Cofounder & CGO of Bella Protocol.
This partnership with Bella comes as part of the wider rollout of insurance services across DeFi, working with handpicked protocols to build sustainable growth, and offering industry-beating insurance services.
About Bella Protocol
Bella Protocol is a suite of open finance products, including automated yield farming tools, BEL Locker, and Flex Savings. We believe everyone deserves equal access to premium financial products and services with elegant design and a smooth user experience.
About InsurAce
InsurAce Protocol is a Singapore based DeFi Insurance protocol that has quickly become the second largest protocol in DeFi insurance. At the time of writing, the protocol has a $40 million market cap based on a circulating supply of 11 million INSUR tokens. There is a maximum release of 100 million INSUR Tokens which can be mined through staking on the protocol.
