With the level of growth in the crypto space, Bridge Mutual’s ($BMI) risk coverage application becomes even more necessary. Although the strength of risk coverage platforms and products in the crypto space are increasing, there is a lack of attention on reassurance systems. Bridge Mutual is partnering with UnoRe, a decentralized reinsurance platform powered by Polkadot, to build on additional layer of security for the DeFi community.
In the partnership, UnoRe will be offering a Stop Loss Reinsurance Treaty to Bridge Mutual. Theoretically, if there were to be a case of catastrophic loss to Bridge Mutual’s coverage collection, UnoRe will cover the claimed amount beyond a predefined limit (Deductible of a Stop Loss Cover). In return, UnoRe will charge a premium for the Stop Loss Cover for each policy sold by Bridge Mutual.
Note: These risks will be commoditized on the UnoRe for Traders platform, where users can buy and sell to earn sizable profits.
“We are thrilled to be partnering with Bridge Mutual, a one of its kind coverage platform in the DeFi space. At UnoRe, we share the foundations of fairness and accessibility that Bridge Mutual aims to propagate within the insurance market; through this equal integration, we will create a new standard for DeFi Insurance products within the crypto community.”
— Jaskanwar Singh, CEO and Co-founder of UnoRe
“At Bridge Mutual, users can purchase and provide coverage for each other. Now, with the integration of UnoRe’s system, Bridge Mutual will have an additional layer of security that will supplement trust for the DeFi space. We are excited to partner up with UnoRe to introduce a new generation of guardianship and confidence to our DeFi community.”
— Mike Miglio, CEO of Bridge Mutual
You can participate in Bridge Mutual’s growth by getting your token on Uniswap or Bitfinex , and then staking it for rewards within the Bridge Mutual’s app. For a detailed walk-through of the Bridge Mutual’s innovative system, visit our Youtube channel.
UnoRe will be the world’s first decentralized reinsurance platform powered by Polkadot, allowing the community to invest and trade in ‘risk’ and receive sizable returns on their investments in one of the safest asset classes in the world. The platform will break barriers to entry for the retail investor by doing away with the historic pre-requisite of absurdly high capital generally needed to invest into the market while also introducing much-needed transparency into the industry as a whole. UnoRe will also allow the community to propose innovative insurance products to the space, thus propelling a new generation of Insurtech companies powered by the UnoRe ecosystem.
About Bridge Mutual
Bridge Mutual is a decentralized, p2p/p2b discretionary risk coverage platform that provides coverage for stablecoins, centralized exchanges, and smart contracts. Its platform allows users to provide coverage, decide on policy payouts, as well as share profit and get compensated for adjudicating claims.