InsurAce.io and GMX are delighted to confirm their official strategic partnership, at the start of a very important year for the DeFi industry.
GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades. Trading on GMX is supported by a unique multi-asset pool that earns liquidity providers fees from market making, swap fees and leverage trading.
GMX runs on BSC and Arbitrium and is looking to expand to multiple blockchains in the very near future.
Following on from their security audit, GMX has kept security and safety of its users at the forefront of their mind. As a result, they were extremely keen to form an official partnership with InsurAce.io, who will provide DeFi insurance against any smart contract infringements.
This partnership has seen GMX listed on the InsurAce.io dApp and cover can be purchased instantly: app.insurace.io
For further information of what is covered for GMX assets, please refer to this document.
“We have been impressed by the progress of GMX since their incorporation. Having followed the project since it was originally called Gambit, we’ve been watching closely at their growth. 2022 is going to be an exciting year for both businesses and the industry overall. The dedication by projects like GMX to ensure their users have the highest level of protection against hacks will see our partnership flourish throughout this year and beyond.” Oliver Xie, Founder, InsurAce.io
About GMX:
GMX is a decentralized perpetual exchange where you can trade BTC, ETH and other top cryptocurrencies with up to 30x leverage directly from your wallet. GMX is currently live on Arbitium and is soon expected to launch on Avalanche.
Users who use GMX have an opportunity to reduce their liquidation risks, save on costs and swap simply. Since their launch, over $6.5 bn has been traded on their exchange and this figure continues to grow.
About InsurAce.io
InsurAce.io is a decentralized multi-chain insurance protocol, to empower the risk protection infrastructure for the DeFi community. InsurAce.io offers portfolio-based insurance products with optimized pricing models to substantially lower the cost; launches insurance investment functions with flexible underwriting mining programs to create sustainable returns for the participants; and provides coverage for cross-chain DeFi projects to benefit the whole ecosystem.
InsurAce.io has provided coverage to 91+ protocols, safeguarding over $196M DeFi assets on 14+ public chains.
InsurAce.io is backed by DeFiance Capital, Parafi Capital, Alameda Research, Hashkey group, Huobi DeFiLabs, Hashed, IOSG, Signum Capital, LongHash Ventures and a dozen of other top funds.
SOURCE
https://blog.insurace.io/insurace-io-and-gmx-confirm-a-new-partnership-with-a-focus-on-improving-digital-asset-security-in-46c2163b4e27
