With the use of cryptocurrencies gradually turning into the mainstream, numerous new companies have opened up to offer unique features and quality user experience. Summarized in this review, let’s take a look at the all-new insurance provider, Unslashed Finance.
As the DeFi market gains popularity, a higher number of hacking and asset-loss cases have arisen; Smart Contract hacks and DeFi exploitation have accounted to over $500 million USD worth of crypto loss.
What Is Unslashed Finance?
Launched in January 2021, Unslashed Finance is a DeFi and staking insurance provider for crypto assets. Built with the support of Ethereum, this decentralized insurance protocol aims to protect crypto assets from commonly seen yet difficult to counter issues like smart contact hacking and DeFi exploits.
Three other Crypto insurance
Unslashed Finance Founder
This London-based insurance service was founded by Marouane Hajji (CEO), the protocol/ team lead at Unslashed Finance. Behind the scenes, the founding team extends to a group of individuals skilled in finance and blockchain such as Dimitry Remerov (Product lead) and Andy McEwan (Tech lead).
When Was Unslashed Crypto Finance Created?
Crypto insurance services Unslashed Finance was launched earlier this year, in January 2021. But evident on the medium blog, the project had been worked on since early 2020.
Unslashed Finance Investors
As of today, Unslashed Finance has raised around $2 million USD with the aid of investors including Bitscale Capital, Chainlayer, P2P Capital and Leniscap.
Additionally, angel investors like Enzyme founder (and CEO at Avantgarde Finance) Mona El Isa and Deversefi founder Will Harborne contributed to the funding round.
Unslased Finance plans on using the funds to expand the protocol and offer insurance products like collateral protection and wallet insurance.
Is Unslashed Finance Decentralized?
Yes, built on the Ethereum blockchain, a global decentralized platform, Unslashed Finance is a decentralized insurance protocol.
Is Unslashed Finance Non-Custodial?
Unslashed Finance plans on allowing non-custodial ownership of assets to users of its community.
How Does Unslashed Finance Work?
By providing decentralized insurance products for crypto users to purchase, Unslashed Finance provides cover against risks that a user could possibly encounter.
The Unslashed Finance protocol basically connects investors seeking to earn an uncorrelated yield with crypto users looking to buy insurance for their assets. By tokenizing asset coverage, Unslashed Finance offers ‘live’ payment; where users can pay as they go.
What Makes Unslashed Finance Unique?
Created with a long-term vision of 25 years, Unslashed Finance is determined to provide the best quality insurance, and states that claims are independent, unlike other insurance protocols.
The claims process is said to be ensured by independent smart contracts. Focusing on liquidity, transparency and collateralization, this protocol is auditable by the community and currently, the first product is designed to contain 24 policies.
Unslashed Finance Early Access
Users can obtain their Unslashed Finance early access by visiting the link: https://app.unslashed.finance/welcome
You will be redirected to a portal of the official website. Two options are provided to connect your wallet (Metamask, and WalletConnect, which will be available soon).
Unslashed Finance Partners
Partnered with well-reputed platforms, Unslashed Finance has the strong support of companies like Enzyme Finance, Techemy Capital, Paraswap, and more that will be disclosed soon.
An open-source protocol, Enzyme Finance enables an inexpensive, quick way to setup and monetize digital assets.
Providing investors with access to crypto insurance services, Techemy Capital is an investment management company providing assistance with digital asset investment, proprietary trading and funds management.
Unslashed Finance Alternatives
A few known alternatives to Unslashed Finance insurance includes the following:
- Nexus Mutual
Unslashed Finance Social Media Handles
Takeaway – Unslashed Finance Crypto Review
Created to cover a range of issues that traditional companies fail to insure – from smart contract hacks and oracle failures, to stablecoin pegs and validator slashing – Unslashed Finance is highly anticipated to provide a stable solution for the asset crises crypto users face.