Bridge Mutual and API3 Develop New Ways to Protect Users
Bridge Mutual ($BMI) and API3 will participate in a collaborative effort to offer our users more assurance for our risk coverage application. The Bridge Mutual team is excited to work together on a plan that will enable API3 to provide us with de-centrally governed and quantifiably secure data feeds for our risk coverage strategy.
Bridge Mutual is constantly developing new ways to better protect our users. Likewise, API3 will strengthen our risk coverage system by providing accurate, fully decentralized data to establish a more meticulous system. API3’s trust-minimized oracle solution will be crucial for providing security and stability for our communities.
“We’re very excited about the fact that Bridge Mutual decided to work with API3 on ensuring their stablecoin risk coverage product receives the most accurate possible price reference data through the use of API3’s oracle solutions. We feel that the ability for users to secure their stablecoin holdings is a huge value-add to our industry, and are happy to work with a partner like Bridge Mutual on this.”
— Heikki Vänttinen, Co-Founder of API3
“Adding API3 to our short list of trusted oracle providers is a massive step for Bridge Mutual; we are confident in their technology and looking forward to exploring new and innovative forms of coverage with their team.”
— Mike Miglio, CEO of Bridge Mutual
In addition to integrating decentralized APIs to provide quantifiably secure price data, API3 and Bridge Mutual will explore collaboration around API3’s planned oracle and data feed insurance, which will allow dapps, protocols and their users to purchase hedges against oracle exploits, which are frequently excluded from existing risk coverage policies.
Extending the capabilities of blockchain applications, API3 builds decentrally governed and quantifiably secure data feeds that power Web 3.0 applications without employing third-party intermediaries. Powered by Airnode-enabled first-party oracles, API3’s dAPIs are fully decentralized and blockchain-native APIs with quantifiable security. Read our full whitepaper here.
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. Bridge Mutual is planning to launch their platform at the end of March.
Learn more about Bridge Mutual at: