ChainGuardians Collaborate with Tidal for NFT Insurance

2 April 2021
by chainguardians

  • - Tidal collaboration will help provide insurance for the NFT assets on the ChainGuardians ecosystem
  • - ChainGuardians will work closely with Tidal to launch its initial coverage pool
  • - Tidal makes DeFi safer by providing insurance coverage for assets across chains in custom balanced liquidity pools.

 

ChainGuardians Announces Integration With Tidal Finance 

ChainGuardians is pleased to announce our integration with the blockchain insurance platform Tidal Finance. Focusing on decentralized insurance in the DeFi space, Tidal Finance is a platform that allows smart contact owners to insure assets and their blockchains in the event of uncertainties like hacking or with the issues of chain integrity. 

Our integration with Tidal Finance will be used to employ their decentralized insurance model on the entire ChainGuardians ecosystem. In doing so, this will be a fail-safe mechanism for everyone that uses our ecosystem in the case of unforeseen events. Ultimately this integration will help manage another layer of risk and help protect ChainGuardians NFTs. 

 

The Importance of Blockchain Insurance 

As decentralized finance grows, the ecosystem that allows us to take advantage of DeFi tools and services becomes more complex and innovative. As a result, protection against unforeseen damages is beneficial to the community, especially if this can also be done on-chain alongside the projects that insurers will cover. Although blockchain technology has a high integrity point and is generally immutable, there is always a possibility that circumstances like hacks can occur. 

Tidal Finance is able to make DeFi much safer by offering customizable smart contact covering protocols for assets on the blockchain, a first in the decentralized space. In addition, this coverage method helps create security and efficiency for any platform. 

Integrating Tidal Finance into the ChainGuardian ecosystem will help give users peace of mind and extra protection to participate on the platform. ChainGuardians will be added to the Tidal Finance risk pool where liquidity providers can earn returns by providing the coverage needed that’s appropriate to the risk. Tidal will work closely with us in order to launch the initial coverage pool.

 

About Tidal Finance

Tidal Finance makes DeFi safer by providing insurance coverage for assets across chains in custom balanced liquidity pools. With Tidal, Users can select risk pools by choosing any combination of protocols/assets and their coverage terms (premium, cover period, etc). Liquidity Providers, on the other hand, can invest in pools that suit their risk/reward ratio.

 

About ChainGuardians 

ChainGuardians is a blockchain meets superheroes gaming ecosystem which combines traditional gaming concepts with blockchain technologies. As well as boasting the world’s first NFT Mining Platform and interoperable RPG, ChainGuardians also merges awe-inspiring artwork with imaginative storytelling. ChainGuardians amalgamates the juxtaposing concepts of play-to-earn and free-to-play through a balanced in game ecosystem; enabling users the opportunity to make key decisions through governance.

 

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