The incorporation of the claim assessment system is set to improve the protocol’s claims process while upholding Uno Re’s central principle of decentralization. This tactical integration secures Uno Re’s progress by addressing concerns about centralization that could jeopardize security and independence.

Benefits of Transparent Claims Handling for Policy Holders

The claims module revolutionizes the claims handling process by ensuring transparent and impartial decisions regarding claim payouts. This helps build trust and safeguard Uno Re’s brand reputation by upholding a consistently high level of transparency, thereby enhancing policyholder confidence.

Using UMA’s Optimistic Oracle for Decentralized Decision-Making

Uno Re is set to implement UMA’s Optimistic Oracle solution for fair evaluation of claim disputes. By incorporating decentralization, this integration ensures definitive decision-making, backed by a claimsDAO system that adds an extra layer of security.

Creating a Secure, Decentralized Insurance Ecosystem for Web3

Uno Re is building a fully secure decentralized insurance ecosystem to serve institutional and individual Web3 participants. The protocol’s insurance platform has sold over $15 million in coverage across various crypto protocols, with risk underwritten for over eighty-five different protocols and six stablecoins on our B2C Insurance Sales dApp — The Cover Portal

What is Uma Protocol?

Founded in 2018, UMA is dedicated to addressing complex challenges inherent in Ethereum’s growth. Notably, UMA has introduced the Optimistic Oracle, as well as other pivotal projects such as Across, the leading EVM bridge in terms of speed and cost-efficiency, and Oval, the pioneering MEV capture protocol on Ethereum mainnet.

What is Uno Re?

The Uno Re protocol is slowly transitioning towards a fully decentralized community-powered protocol that is governed by members. Through protocol governance, members can propose and vote on changes to any aspect of the protocol. These decisions determine the protocol’s future operations.

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This follows their partnerships with Trias, Bloktopia, Age of Tanks, and more, thus reinforcing Uno Re’s commitment to empowering the next financial chapter of Defi.

Horde is an innovative symbiosis between a zero membership DaaS with stablecoin protocols and an in-development P2E zombie defense game, all integrated into a feeless ecosystem.

Since they launched their mission to bring forth a paradigm shift in DeFi insurance, they have remained committed to expanding the range of insurance solutions that Uno Re can offer the DeFi ecosystem. In pursuing this commitment, Uno Re is pleased to announce that they have partnered with Horde to provide $1M depeg coverage to their BUSD reserves..

As they saw earlier in the year with UST, stablecoins run the risk of losing their pegs to their reference assets (in this case the US Dollar). In May, the UST depeg wiped out about $40 billion in funds.

In accordance with standard industry practices, Horde, like every other DeFi protocol, holds cash reserves to meet all expected and unexpected costs in the short run, as well as to finance potential investments. However, for most protocols like Horde, the risk of stablecoin depegging is a real and foreseeable one that can incur a massive loss of cash reserve value.

The need to forestall any catastrophic consequences of a depeg is essential. But more importantly, the need to provide a safety net for the smooth running of such a protocol that enables the growth of the DeFi sphere is crucial — which is why Uno Re is delighted to provide $1 million in coverage to reimburse any loss of cash reserve value.

This collaboration will be a constantly expanding one — in the future, HordeGames is looking to launch its own DEX, and Uno Re looks forward to exploring opportunities to safeguard users on this newer venture as well.

About Uno Re

Uno Re is the world’s first decentralised insurance and reinsurance platform, allowing the community to invest and trade in ‘risk’ and receive sizable returns on their investments in one of the safest asset classes in the world. They have over $3.7M in active coverage across various crypto protocols and have underwritten risk for over 100 protocols on its B2C Insurance Sales dApp — The Cover Portal.

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About Horde

HORDE is a new approach to a DaaS protocol, paying daily rewards which will be stabilized in a liquidity management system. HORDE seeks to offer long-term returns through daily rewards on Plots purchased with HORDE tokens.

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SOURCE

https://medium.com/@uno.reinsure/uno-re-partners-with-horde-to-provide-1m-busd-depeg-coverage-72952133e35d

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