We are delighted to announce our integration with Cover Protocol, a risk coverage protocol that allows users to set the price of insurance covers while remaining completely fungible.
As a part of this integration, we will be featuring their smart contract and platform covers on our marketplace. When a smart contract system is compromised due to a hack, exploit, economic manipulation attack, or de-pegging of a specific stablecoin, the insurance protocol covers the claim amount based on the type of coverage purchased. This, in turn, protects the user from incurring a huge loss.
We are building an insurance marketplace offering users a one-stop-shop insurance solution to their traditional and crypto insurance needs.
Cover Protocol’s unique products will offer a much-needed layer of protection to the crypto ecosystem.
“ We are ecstatic to welcome Cover Protocol to our platform. We look forward to accelerating the crypto space with innovative insurance products and competitive pricing with the integration. ”
Kunal Sadani, CEO of PolkaCover
“ PolkaCover offers a decentralized insurance aggregator and marketplace that will allow for highly competitive-priced coverage for users. This means all coverage protocols can offer and sell their coverage in one place, which gives users options and freedom of choice to compare against several factors within their risk framework.”
DeFi Ted, Head of Communication
PolkaCover is the First DeFi insurance marketplace for the traditional and global crypto ecosystem. We aim to lower transactional and administrative costs of insurance policies and coverage while providing high-value, cost-effective insurance products. Our platform will connect users with multinational insurance providers. The platform will include a frictionless insurance marketplace experience that incorporates next-generation blockchain technology and tokenized incentives.
About Cover Protocol:
Cover Protocol provides peer-to-peer coverage with fungible tokens. It lets the market set coverage prices as opposed to a bonding curve. Cover Protocol allows DeFi users to be protected against smart contract risk. It offers stability in the turbulent DeFi space by instilling confidence and trust between protocols and their users. It bridges the gap between decentralized finance and traditional finance.