Bridge Mutual Features Pendle Finance Coverage Pool on BMI Platform
We are excited to announce a NEW whitelisted pool showcased on the Bridge Mutual platform!
The featured coverage pools represent top-level DeFi projects that are whitelisted by the BMI team to receive extra BMI rewards in exchange for the supplied coverage liquidity. Taking off with conjoined efforts to protect their DeFi communities, Bridge Mutual has invited Pendle Finance to provide the initial risk coverage liquidity for the Pendle users. This allows users to purchase coverage for their Pendle positions and get protected against any hacks, exploits, rug-pulls, and other unfortunate events that result in a financial loss.
Pendle Finance is a decentralized protocol that enables the trading and hedging of yield on an AMM. In allowing users more optionality in managing their yield, Pendle aims to create a more capital-efficient and mature DeFi ecosystem where resources are fully maximized.
Pendle has recently launched support for SLP tokens (Sushi) as well as a new staking mechanism involving its native token, PENDLE. This enables more optionality for Sushi liquidity providers, allowing them to use their LP tokens to speculate on impermanent loss and swap fees. In collaborating with Bridge Mutual, Pendle hopes to give users more confidence in using their platform and allow yield trading to become part of DeFi natives’ strategies.
Following its mission of creating a much safer and transparent crypto ecosystem, Bridge Mutual offers users a fair way to purchase and provide coverage for their crypto assets and ventures. Bridge Mutual is proud to whitelist Pendle Finance as a featured coverage pool on the BMI application and hopes to supplement an additional layer of security for Pendle users.
About Pendle Finance
Pendle is the first protocol that enables the trading of tokenized yield on an AMM system. Pendle aims to give holders of yield-generating assets the opportunity to generate additional yield and to lock in yield upfront, while offering traders direct exposure to yield streams, without the need for underlying collateral.
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.