Bridge Mutual v1.0 Goes Live!

Please read this entire article for critically important information regarding our V1.0 launch, the coverage mining event, a list of known minor bugs, and plans for the near future.

As of now, the platform and coverage mining event are live. Please go to app.bridgemutual.io to access the app. Users can join and create teams, provide coverage, purchase policies, submit claims and upload evidence, vote on claims, and managing their liquidity.

CRITICAL INFORMATION: After a user has joined a team and deposited funds into a coverage pool of their choice, they MUST go back to the main dashboard and manually stake their funds. Funds that are not staked in this way do not earn BMI rewards. They are working on making it so that funds will automatically be staked in the future, but for the near future users must do this step manually. Please help spread the word regarding this critical step so that other users do not miss out on rewards.

Old and New Staking: All old staking funds and rewards still exist and are safe within the platform; users that have staked in the past will see that their funds are still being staked. However, they have upgraded the old method of staking and created a new method of staking. The old method of staking will no longer be supported by rewards, and users must migrate their funds from the old staking to the new staking in order to continue receiving rewards.

The Coverage Mining Event: This is a 2-week-long event starting July 9th and ending July 23rd. During this time, users will be able to create or join existing teams. Teams will compete for rewards (both extra tokens and utility NFTs). For all information on this event, please read the last Medium article here:

List of known minor bugs:

• Users that are in a team and that have deposited funds into a coverage pool must also manually stake on the main Dashboard under the “My Liquidity” menu in order to start earning rewards. They will fix in the middle of the week.
• Sometimes the gas fee to provide coverage or stake is exceedingly high; hard refresh your browser or try another browser to solve this issue.
• There are areas within the app that say “DAI” instead of “USDT”, this is just a graphical error and will be fixed shortly.
• After a user selects a pool to deposit funds into, the logo and name of the pool get replaced by a placeholder image and the smart contract address. This is just a visual bug and will be fixed shortly.
• This list is not exhaustive — they may or not may not continue to update the list in this article. If any other bugs are found, please bring them to the attention of the team via their Official Telegram channel (a link is at the bottom of this article).

What’s next.

Now that the platform is launched, updates to the code and platform will be much smaller and more frequent, with new larger updates being introduced as new versions (version 2.0, version 3.0, etc.). The next major updates will introduce stablecoin insurance, exchange insurance, lower premium pricing thanks to increased capital efficiency, a functional DAO voting system, comprehensive claims assessment guidelines, and more.

📰 INFO

https://bridgemutual.medium.com/bridge-mutual-v1-0-is-live-1aafb51f475f