InsureDAO Partners With Arthswap
InsureDAO and Arthswap made a partnership!
InsureDAO partners With Arthswap, is a leading DEX in AstarNetwork.
Details of the collaboration
Co-Underwriting
Users can purchase insurance of Arthswap provided by InsureDAO and Arthswap team. InsureDAO and Arthswap team will deposit the USDC up to $80,000 and underwrite the insurance.
Front-end integration
They are planning to integrate with Arthswap front-end using their API.
Arthswap users would check the premium of the insurance and purchase the insurance in Arthswap UI.
What are the functions InsureDAO provides?
InsureDAO has 3 functions, build, market, and lending.
As for insurance payment decisions, we use a 3rd party DAO named ReportingDAO consisting of security professionals such as QuantStamp and WatchPug.
Build
It is an Insurance builder kit for DeFi protocols. It allows DeFi protocols to issue insurance easily. We require inputting governance token and insurance type and depositing the initial liquidity.
Market
It is a two-sided market where buyers and sellers exchange hacking risks in the applications.
Users can be either buyers, sellers, or could be both.
Lending（under development）
It is the lending function of using the underwritten USDC in InsureDAO. Borrowers can borrow USDC by depositing INSURE tokens as collateral. Underwriters can receive the interest paid from the borrowers in addition to INSURE token rewards.
How can InsureDAO benefit to the Astar ecosystem?
InsureDAO is the insurance provider to lower the upcoming project risks. That means we can accelerate the project launch by underwriting the contract risks. At the time of dawn for new chains like Astar, it is quite difficult for users to judge which project is solid or not. InsureDAO surely thinks, this benefits could affects the increasing TVL, as-per-user, you don’t have to take much attention to the protocol risks compared with other chains.
About Arthswap
ArthSwap is a leading DEX on Astar network. Its mission is to contribute to the Astar Network ecosystem’s expansion. With simple UI and design for High APY, it enables High-Frequency Trade on Astar Network.
About InsureDAO
InsureDAO is a decentralized insurance protocol, allowing anyone to create an insurance pool easily to “Cover every single risk in DeFi space”. InsureDAO provides an insurance builder kit and insurance market. Additionally, we offer the lending function to INSURE token stakers.
