With ever-increasing danger in the crypto space, Bridge Mutual ($BMI) is rapidly warranting coverage for smart contract exploits, hacks, and rug pulls for growing DeFi networks. It is our pleasure as a decentralized and discretionary risk coverage company to bring certified protection into Shadows Network.
“DeFi may be permission less but it’s not yet perfect — which is why users are keen to insure against some of the common pitfalls. By joining forces with Bridge Mutual, we are giving our users the ability to secure their assets, and to get more out of Shadows Network.”
— Patrick Kim, Head of Product for Shadows
Shadows is a competent trillion- dollar market for issuing, trading, lending, and borrowing synthetic assets. Its platform doesn’t only allow anyone to trade on- chain assets from anywhere, but also brings trillions of offline financial assets into the Polkadot ecosystem through synthetic asset agreements. By integrating our decentralized risk coverage application into Shadow’s trading platform, we will enable all users to be protected from risks moving forward. Bridge Mutual is confident that this collaboration will ensure the greatest security for all qualified users on the Shadows Network.
“This is a transfer of value where a smart contract is being used, where protection is needed. It’s really interesting to see the complex. We’re very impressed with the level of ingenuity behind the SHADOWS team and the platform they are creating; it’s a strong candidate for coverage and we’re looking forward to intimately involving them in the coverage of their platform and assets.”
— Mike Miglio, CEO of Bridge Mutual
Shadows is a decentralized synthetic asset issuance protocol built on Substrate. The value of these synthetic assets is underpinned by DOWS, and as long as DOWS is locked in a smart contract, synthetic assets can be issued.
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.