ADD.XYZ partners with Union Finance for Integrated Insurance Protection on Liquidity Pools
In the first ever DeFi solution of its kind, ADD.xyz will enable tens of millions in liquidity to be protected with user-purchased insurance for liquidity deposits in Lend & Earn using Union Finance’s Decentralised Full Stack DeFi protection at the contract layer.
Users will be able to purchase protection against bundled protection featuring different layers of coverage and segregated underwriter exposure (e.g., Layer 1 risk, smart contract risk, exposure risk, transaction completion risk). Complete protection offers broader coverage and cost savings seen in the traditional insurance market.
Union Finance’s fully aligned product stays true to Decentralisation, unlike other DeFi protection platforms, it requires no KYC and sensitive information handling, allowing DeFi users to have peace of mind with their personal data.
UNION is a technology platform that combines bundled protection and a liquid secondary market with a multi-token model. DeFi participants manage their multi-layer risks across smart contracts and protocols in one scalable system. UNION decreases the entry barriers for retail users and lays the foundation for institutional investors. UNION’s full-stack DeFi protection is inclusive, composable, and brings battle-tested capital and pricing models from TradFi to the DeFi ecosystem.
Union’s collateral optimization product, or C-OP, allows users to use their crypto dollar-for-dollar when borrowing stablecoins from DeFi lenders. It protects borrowers from volatility that might otherwise cause borrowed DeFi positions to liquidate. In this way, C-OP behaves much like an American Put option on the underlying collateral being protected.
- Buyers of protection are buyers of the C-OP, and receive uUNN.
- Sellers of protection are writers of C-OP, and receive pUNN.
- Buyers and Sellers pay/deposit/receive premiums in stablecoin even though the underlying asset of the CO-P position will be another token such as ETH or wBTC.
- No UNN is required to purchase or write protection, though there may be incentives such as additional yield should the purchaser or writer also hold UNN.
UNION’s Smart Contract Protection (SCP) provides protection against hacks, malfeasance, and defects that plague DeFi protocols. The SCP platform works on top of their core crypto default swap architecture, where U-CDS enables all of their core protection products.
ADD.xyz is a full-stack DeFi aggregator, plugging in multiple products and DeFi applications into one single platform, focusing on User Experience, Design, Privacy and Anonymity. ADD.xyz has big dreams that include a total decoupling and true sovereign wealth for everyone with their strong focus on anonymised privacy at the protocol level.
ADD.xyz started as a DeFi lending aggregator, but have built at a rapid pace to now act as a general DeFi aggregation platform, or as they call ‘Full Stack DeFi’, to include ETH mixers & on-chain privacy protocols, buying insurance from providers for deposits on lending, mobile money credits to DeFi lending in Africa, Native Mobile App on Android and eventually a Defi debit card.
All of our native components are decentralised and non-custodial.
As Gas Fees on the network increase, and companies are no longer able to absorb the costs from their customers. ADD.xyz is the only solution within the crypto space aggregating all functionality and reducing costs down for end users.
With their focus on privacy and anonymity, you can now access on-chain and off-chain privacy solutions before and after lending, purchasing insurance and accessing derivatives.
The days of switching between multiple browsers, apps and waiting for a series of transactions to confirm are becoming relegated to the past.
ADD.xyz focus is on making DeFi accessible and powerful for enterprises. They’re achieving this through developing a series of usable products.
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