Tidal Finance Is Safeguarding Bella Protocol
Bella Protocol has started the safety fund to get 1 Million TVL covered through Tidal, adding an extra layer of protection to their users’ assets.
Bella Protocol is purchasing $1 million USD-worth coverage through Tidal Finance to cover their protocol’s safety. In case of a payout event, the coverage amount will be directly paid to the Bella team to facilitate a speed recovery of their users’ funds. Bella Protocol is a “one click crypto banking” system providing best yield and zero gas fees for liquidity providers, by adding tidal’s coverage plan, Bella team is adding an additional safety layer to their users’ fund.
The current coverage plan covers Bella’s smart contract vulnerabilities that are deployed on the Ethereum network, including the recently launched flex saving v2. Malicious attacks and economic exploits resulting in Bella users’ asset loss would qualify for a valid claim. Any valid payout amount will be directly paid to the Bella team to recover Bella users’ loss. For more general coverage policy wording, please refer to Tidal’s gitbook cover policy section.
By having Bella in the mutual cover pool, reserve providers on Tidal platform could receive earnings, specifically through two ways:
- Earning cover premium directly from Bella’s cover plan
- TIDAL token rewards through the Cover Mining Program
About Tidal Finance
Tidal Finance is the first multi-chain flexible insurance platform, working directly with companies, and the first insurance solution to launch on Polygon. The flexible insurance model allows companies to adjust their premiums on a weekly basis based on fluctuating TVLs (Total Value Locked) and evolving investment strategies. Users can buy and cover insurance purchasers and receive the highest APYs in the industry. Tidal Finance is also the first DeFi insurance provider to offer gas-free transactions for cover providers and buyers.
About Bella Protocol
Bella Protocol is a suite of open finance products that aims to bring mass adoption to DeFi asset management. On top of improving Flex Savings v2, a yield product records $40 million TVL on Ethereum, the team is creating Bella Virtuoso, a permissionless strategy platform that connects investors with the best LP strategies on Uniswap V3, and provides built-in backtesting tools and data infrastructure for strategy builders. Bella is backed by multiple investors including Binance Labs and Arrington XRP Capital. BEL token is supported on Binance, Bithumb and other major exchanges.
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