New Ethereum DeFi Insurance Platform - Insurace
Yield farming starts 4/26/21 with single asset staking pools
The proliferation of Decentralized Finance has not come without some expensive exploits, contract bugs, and user error that have lead to losses of funds. An excellent publication, RektHQ, documents the adventures and horror stories in real time. They are 100% worth a follow.
DeFi insurance has been a fast growing opportunity for capital providers and new protocols to provide coverage for those concerned about potential losses. Nexus Mutual, COVER, Unslashed Finance have >$0.5b locked and are adding new policies and partnerships to reduce risk for DeFi users.
The newest of the bunch, Insurace, is launching next week after a successful beta. They are incentivizing capital providers with $INSUR governance tokens across six pools:
Full details can be found in their Medium post.
You can learn more about the INSUR tokenomics here.
It’s important to note any capital staked is subject to a 30 day lock on withdrawals, but your capital will continue to mine INSUR tokens during this period. It’s not obvious for how long this liquidity mining opportunity will last, so stay tuned to the Twitter page for updates.
Finally, there is INSUR/USDC liquidity on Uniswap, but there is currently no ETH pair. I also don’t see any plans to incentivize liquidity (pool 2) so it may be a token that gets sold into shallow liquidity and drops quickly. These are considerations one must make before committing capital.