InsurAce.io has Introduced new Partner, Liquity
Liquity is a decentralized borrowing protocol that allows you to draw 0% interest loans against Ether used as collateral. That’s Interest-free liquidity at your fingertips! It is because of this that Liquity users have driven huge growth in the project to achieve over $2bn in TVL in a short period of time. Liquity as a protocol is non-custodial, immutable and governance-free.
InsurAce.io is proud to partner with Liquity and offer Liquity users insurance services to protect them against smart contract hacks and bugs. Liquity has been listed on the InsurAce.io dApp with an initial annual premium price of 2.5%, and an initial capacity of $2.6m which they expect to sell out quickly. This capacity will be extended as they work closely with the Liquity team.
Liquity will be making this process as easy as possible for their users by providing a direct link to the InsurAce.io dApp. This link will also enable users to receive a 5% reward on their insurance purchases.
“It is projects like Liquity that are the reason we are here to provide insurance to the DeFi sector. Interest-free borrowing is the future of DeFi borrowing and we are proud to be along for the ride as an official insurance provider.” Oliver Xie, Founder, InsurAce.io
As Liquity continues to grow it’s important that our users can get coverage and feel extra safe in their positions. We’re excited that InsurAce is confident enough in Liquity’s security to add support for the protocol. Liquity CEO and Founder, Robert Lauko.
Liquity is a decentralized borrowing protocol that allows you to draw 0% interest loans against Ether used as collateral. Loans are paid out in LUSD — a USD pegged stablecoin, and need to maintain a minimum collateral ratio of only 110%.
In addition to the collateral, the loans are secured by a Stability Pool containing LUSD and by fellow borrowers collectively acting as guarantors of last resort. Learn more about these mechanisms under Liquidations.
As the partnership develops we will look to increase capacity through co-staking, token swaps, as well as increasing their insurance offering with Liquity to cover De-Peg insurance of the LUSD.
About Liquity
Liquity is a decentralized borrowing protocol that allows you to draw 0% interest loans against Ether used as collateral.
Liquity is a decentralized borrowing protocol that allows you to draw 0% interest loans against Ether used as collateral. Loans are paid out in LUSD — a USD pegged stablecoin, and need to maintain a minimum collateral ratio of only 110%.
In addition to the collateral, the loans are secured by a Stability Pool containing LUSD and by fellow borrowers collectively acting as guarantors of last resort. Learn more about these mechanisms under Liquidations.
About InsurAce.io
InsurAce.io Protocol is a Singapore-based DeFi Insurance protocol that has quickly become the second-largest protocol in DeFi insurance. The $INSUR token was released in February 2021, followed by a mainnet launch to the Ethereum Network in April 2021.
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