CoverCompared, the world’s first DeFi insurance aggregator for traditional and crypto products, will launch on one of the fastest-growing blockchain networks — Polygon.
Their vision was always to be one of the largest multi-chain insurance aggregators in the world, and they are now taking their first step towards this by offering insurance on both the Ethereum and Polygon chain to protect your assets from unpredictable vulnerabilities.
What does this mean?
Polygon offers better scalability and better efficiency in transactions. Polygon uses its own Proof-of-Stake (PoS) blockchain and Commit Chain connectivity to help scale the Ethereum network, and seeks to solve inefficiencies that may hinder widespread adoption of blockchain technology. To summarize, the primary benefits inherent to the Polygon blockchain are:
- Considerably lower transaction fees
- Extremely fast transactions per second
- Can scale and offers staking rewards
- Great for decentralized finance apps
Their launch on Polygon’s network will not only provide CoverCompared access to a wider community but will also create significant benefits for Polygon users. The CoverCompared marketplace will now also offer insurance for products operating on the Polygon blockchain. Moreover, this option to buy added protection and security will enhance investment safety and lead to a consequential increase in Polygon’s market popularity.
Providing the needed insurance to protect users digital assets against unprecedented events will only help further provide assurance in safety to them that will promote growth for both communities.
CoverCompared is the First DeFi insurance marketplace for the global crypto ecosystem. We aim to lower transactional and administrative costs of insurance policies and coverage while providing high-value, cost-effective insurance products bought using a host of cryptocurrencies.
Our platform will be connecting users with multinational insurance providers for all global insurance products such as crypto-related protection, health, life, and travel policies. The platform will include a frictionless insurance marketplace experience that incorporates next-generation blockchain technology and tokenized incentives.