Tidal Finance joins hands with EasyFi to offer multiple Insurance on Layer 2 Defi ecosystem

as we all know the theory of DeFi, still being in its initial stage, is vulnerable to multiple attacks and hacks with a risk of losing user funds. Thus, a decentralized protocol needs to evolve to mitigate the risk exposure against such incidents. With this new collaboration, EasyFi will be able to offer multiple-level insurance coverage to all its users and projects thereby enhancing the risk mitigation capabilities of the multi-chain protocol & its users.

The onboarding of Tidal Finance onto the EasyFi Ecosystem will:

• Provide an insurance cover to our multi-chain protocol and enable safer credit delegation and micro-lending services

• Allow EasyFi users to choose risk pools depending on their risk appetite

• Allow users to filter through a combination of assets and their coverage terms (premium, cover period, etc) and customize their insurance needs to protect their investments.

also taking a full look at the full summary this partnership will:

• EasyFi will insure its smart contracts (audited) from any failure or any untoward vulnerability in the future.

• The EasyFi platform will be protected in security matters with Tidal’s insurance coverage to secure all digital assets being deposited by users for lending.

• EasyFi may initiate deeper integration for liquidity pools and include different metrics, e.g. return on deposited capital, loss-of-principal risk and lock-up period — it will allow evaluation of returns and risks among different liquidity pools.

• We will also work with Tidal to offer a functionality to create custom insurance pools for retail as well as institutional customers/users.

  With an insurance system on our protocol will give an impetus to more people to participate in the decentralized finance and cryptocurrency lending industry.