The adoption of cryptocurrency has grown at a mass scale. However, the waters are murky when it comes to insurance rules and regulations. Keeping this challenge in mind, the collaboration of UnoRe, a DeFi reinsurance platform, and Bridge Mutual, a DeFi discretional platform that assures security providing smart contracts will eliminate the distress. With the curation of a protected and reliable cryptocurrency insurance domain, users will vouch for this ecosystem with immense faith.
Bridge Mutual will offer UnoRe approved products that are state-of-the-art and secure insurance results. Through UNO tokens staking in alignment with the premium demanded in the Reinsurance Treaty, Bridge Mutual will be a contemporary insurance resolution for the Innovators platform by UnoRe. The risk of insurers will be eliminated through this alliance on an array of DeFi products, smart contracts, exchanges, stablecoins, and other cryptocurrency exchanges.
In a media report, the CEO and Co-Founder of UnoRe Jaskanwar Singh cited that the consolidation would generate a new protocol for DeFi insurance products in the cryptocurrency realm. This integration, along with UnoRe’s added layer of security, will also prove beneficial to Bridge Mutual. The DeFi discretional risk coverage platform Bridge Mutual can reap the benefits of the Stop Loss Reinsurance Treaty through UnoRe’s assistance. For this beneficiary, when Bridge Mutual sells a policy, they will be charged with a premium fee levied by UnoRe.
Talking about the leverage the DeFi network will garner through this consolidation, the CEO of Bridge Mutual, Mike Miglio, mentioned that there would be an added tier of protection and assurance within the ecosystem. Combining forces of two powerful DeFi platforms will launch a brand-new era of reliance, confidence, and guardianship in the DeFi realm.
UnoRe aims at breaking barriers by chalking out old methods that were required in the system. The platform UnoRe has induced the essential requirement of transparency. As for the DeFi platform Bridge Mutual, their key areas are selecting policy payouts, compensation for adjudication of claims, and providing coverage. Bridge Mutual upholds discretionary while providing investors coverage for smart contracts, stable coins, and unifying exchanges. The partnership of UnoRe and Bridge Mutual will lead the DeFi community to a trustworthy cryptocurrency insurance system.