InsurAce.io Partnership With Impossible Finance
Impossible Finance is a multi-chain incubator, launchpad, and swap platform which offers a product-first ecosystem that supports top-tier blockchain projects to users.
“We have been working with Calvin and the Impossible Finance team for a few months now to bring insurance coverage to Impossible. We can see the project redefining the IDO process as well as revolutionising DeFi as a whole. We are very excited about this project and look forward to working closely with the team in the near and long term” — Oliver Xie, Founder InsurAce.io
InsurAce is thrilled to announced its partnership with Impossible Finance. InsurAce.io will be offering 2 types of coverage for Impossible users. The first is for smart contract risk cover, which is to protect users’ assets deposited into smart contracts as a whole platform, including both the swap and launchpad. Users can just buy and cover the smart contract for the whole platform and their activity within Impossible will be covered. The second type of insurance that will be provided to Impossible users will be IDO event risk cover which InsurAce.io are the first to offer in the industry. When a project is doing their IDO on the Impossible launchpad, users can buy insurance for that specific IDO event to prevent asset loss, which is still predominantly caused by smart contract hacks.
Through fair, hassle-free access to some of the best projects across crypto including DeFi, DEXes, NFTs, and infrastructure projects, Impossible are changing the way that IDOs are completed. From layered security checks, composable code, and multiple audits and bug bounty programs, Impossible take all possible precautions to earn users’ trust. This is where InsurAce.io comes in. Impossible Finance has now been listed on the InsurAce.io dApp with a 3.59% annual premium cost and a starting capacity of $3.8m USD.
InsurAce.io is one of the fastest-growing and most innovative insurance protocols available on the market. With over 60 protocols listed on the app in the past 4 months, and an ever-increasing range of products and services. Impossible Finance is exactly the type of protocol that InsurAce.io likes to work with, helping to grow DeFi and make the space more dynamic and safer for everyone. This partnership will help drive new confidence in Impossible Finance, as well as supporting the continued growth of the InsurAce.io protocol.
ABOUT InsurAce.io
InsurAce.io is a decentralized insurance protocol, covering 60+ protocols on 8+ chains, built 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, up to 60% lower than other protocols, simultaneously reducing gas fees by up to 50%.
ABOUT Impossible Finance
Impossible Finance is led by Ex-Binance & DeFi veterans, including Calvin Chu from Binance Research. Calvin was part of the selection, incubation and pre/post launch advisory process for Binance Launchpad with notable projects such as Polygon (Matic), Elrond, Axie Infinity and Harmony.
RESOURCES
InsurAce Blog
