Orion Coverage Pool Went Live On Bridge Mutual

Orion Protocol users can purchase decentralized and bespoke risk coverage on Bridge Mutual. Bridge Mutual allows any person to create “insurance” pools for any smart contract, exchange, stablecoin, or service at any time. Now, users can purchase a coverage policy from the Orion Coverage Pool to insure themselves against hacks, rugpulls, stablecoin de-pegging, or exploits that result in a permanent loss of funds.

Bridge Mutual is launching a Coverage Mining Event with almost 6 million BMI tokens to be distributed among participants as rewards. Orion is pleased to be one of the select coverage pools available during this event – the Orion team has provided initial liquidity to the Orion Coverage Pool, enabling our community to purchase coverage immediately.

Any user is able to provide coverage liquidity to the Orion Coverage Pool in the form of USD stablecoins. In exchange for their liquidity, coverage providers will receive yield (80% of all the premiums paid for coverage + a substantial part of the Coverage Mining Rewards + NFTs if they happen to be among the largest contributors). The higher the utilization ratio of the project coverage pool, the higher the APY for the coverage liquidity providers.

Project Coverage Pools are the source of coverage for any given crypto project on the Bridge Mutual Platform. The bigger the Pool, the more coverage there is available to the users.

ABOUT Orion Protocol
Orion Protocol is the first gateway to the entire crypto market: aggregating every CEX, DEX, and swap pool into one decentralized platform.

ABOUT Bridge Mutual
Bridge Mutual is a decentralized, p2p/p2b discretionary risk coverage platform that provides coverage for stablecoins, centralized exchanges, and smart contracts. Its platform allows users to provide coverage, decide on policy payouts, as well as share profit and get compensated for adjudicating claims.

RESOURCES
Orion Protocol Blog