Tidal Finance x bZx Protocol Partnership
Tidal Finance announced its partnership with bZx protocol to boost the security of bZx platform and help launch its initial coverage pool.
Tidal Finance is a decentralized discretionary mutual cover protocol offering the DeFi community the ability to hedge against failure of any DeFi protocol or asset.
With this collaboration, Tidal Finance will sufficiently protect the smart contracts created on both Fulcrum and Torque by building a mechanism that utilizes insurance reserves to insure them against any hacks/malicious actors. The bZx team also intends to build in future integrations into it’s yield optimization features.
Tidal will also work closely with the bZx team to launch its initial coverage pool. With bZx participation, Tidal finance could offer more coverage to insure buyers and increase LP’s returns.
“With increasing locked value of the protocol, the bZx team has been searching for different solutions to hedge hack risks” said Chad Liu, the CEO of Tidal Finance. “I am glad to see that bZx team recognizes the value of Tidal platform.”
Tidal is taking significant strides towards providing leveraged insurance across DeFi. We’re excited to partner with them on the initial coverage pool and future yield optimization integrations. ~ Tom Bean, CEO and Co-founder of bZx.
About bZx
The bZx protocol is an Ethereum-based decentralized platform built for DeFi lending and margin and leverage trading that differentiates itself from competitors through a smart contract-powered token system. bZx protocol’s unique architecture ensures that the gas fee associated with using bZx does not increase along with the number of assets supported by the platform.
About Tidal Finance
Tidal.Finance makes DeFi safer by providing insurance coverage for assets across chains in custom balanced liquidity pools. With Tidal, users can select risk pools by choosing any combination of protocols/assets and their coverage terms (premium, cover period, etc). Liquidity Providers, on the other hand, can invest in pools that suit their risk/reward ratio.
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