PolkaCover Has Partnered With Coinversation
Who is Coinversation?
Coinversation Protocol is a synthetic asset issuance protocol and decentralized contract trading exchange based on the Polkadot Contract Chain. It uses the token CTO issued by Coinversation Protocol and Polkadot (DOT) as collateral, and synthesizes any cryptocurrencies or stocks, bonds, gold and any other off chain assets through smart contracts and oracles.
Within this collaboration, Coinversation and their community will get access to the PolkaCover marketplace. PolkaCover will essentially provide the Coinversation community with:
Hack Covers: these are created to safeguard users’ crypto assets by offering them insurance coverage to help the users recover from the unexpected crisis concerning underlying agreements.
Smart Contract Covers: these offer a safety net against the vulnerabilities by bearing a portion of the loss (a fixed claim according to the underlying agreement) incurred by the smart contract if exposed to any known vulnerabilities such as bugs or hacks.
About PolkaCover
PolkaCover 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 block chain technology and tokenized incentives.
About Coinversation
Coinversation Protocol is a synthetic-asset issuance protocol and decentralized contract trading exchange based on the Polkadot parachain. It uses CTOs, issued by Coinversation Protocol, and DOTs as collateral, to synthesize any cryptocurrencies, stocks, bonds, gold or other off-chain assets through smart contracts and oracles. Users can forge a certain synthetic asset by collateralizing CTOs or DOTs, such as U.S. dollars, and automatically have a long position in the asset. Users can also convert minted assets into other assets through the trading platform, so as to realize the purpose of shorting the asset and longing other assets.
➡️Source:
https://polkacover.medium.com/coinversation-our-next-crypto-partner-d87192f2af6
