InsurAce formed a Partnership with QiDao Protocol
QiDao is a protocol that allows users to hold their crypto while still being able to spend its value. Users are able to borrow stablecoins at 0% interest without needing to sell their crypto holdings.
As a community-driven protocol, $Qi holders vote on any changes or proposals requested.
Users log onto Mai Finance, the front-end dashboard of QiDao, to hold onto their crypto value, receive 0% interest loans and leverage their crypto positions. In short, QiDao enables users to be their own banks.
Now, QiDAO/Mai Finance users can protect the assets that they hold within the platform, through InsurAce.io and their Smart Contract Vulnerability insurance cover. Protection is available on 5 major networks: Fantom, Polygon, Avalanche, Moonriver and Harmony.
“QiDao is a truly community-driven project and we admire that due to our own community strategy. Working with the team so far has allowed us to provide insurance coverage for a very exciting protocol with a lot to offer. We know that they can attract many users and we wanted to be able to further strengthen their high security and protection options. We’re looking forward to collaborating continuously to revolutionize the DeFi industry.” Oliver Xie, Founder, InsurAce.io
QiDao
QiDao is an overcollateralized stablecoin protocol; it is not an algorithmic stablecoin. They took inspiration from different stablecoin protocols as well as their community to help build the superior protocol they have today, combining the best of both worlds.
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.
