Bridge Mutual Partners with Metis Protocol to Protect Assets
Bridge Mutual is excited to announce its new partnership with Metis Protocol — an Ethereum Layer 2 rollup platform. The collaboration will enable users to purchase coverage for their Metis-related assets (such as the native $METIS utility token), as well as underwrite insurance for Metis in exchange for a yield. Q3 began with a list of thrilling events such as its liquidity move to Sushiswap, announced multi-chain development on Solana, the release of the Q4 roadmap, and announcement of the upcoming Bridge Mutual V2 happening on December 6th.
A Layer 2 Ethereum rollup, Metis scales Ethereum to reduce the price of transactions on its Layer 2 network to about $2-$3 now, and a few cents by the end of Q1 2022. Ethereum has been pioneering the open-source blockchain space, inspiring innovative projects such as Metis to grow into robust scaling solutions. Specifically, Metis solves Ethereum’s main challenges, the 6 S’s: simplicity, speed, storage, security, and savings. With an easy-to-use technical and organizational platform, Metis is making blockchain accessible to everyone. Metis launched its Layer 2 mainnet, Andromeda, on Friday, November 19.
The DeFi space is maturing, and the products within it will continue to advance. However, this will bring in a concerning amount of hackers waiting to prey on assets and investments. For this reason, Bridge Mutual is delighted to bring Metis onto the BMI platform for higher security. The mission for both Bridge and Metis is to accelerate the transition of mass adoption to DeFi and BMI can facilitate this process by providing protection against the potential hacks and exploits that are inescapable in the space. With this synergetic partnership, users will be able to experience the transition of people to blockchain for open, fair, and decentralized business on Web 3.0.
Based on the spirit of Optimistic Rollup, Metis is building an easy-to-use, highly scalable, low-cost, and fully functional Layer 2 framework (Metis Rollup) to fully support the application and business migration from Web 2.0 to Web 3.0. Its scalable protocol supports a wide range of use cases, including yield farming, DEX trading, and powering the gig economy via dApps that offer cheap and fast micropayments.
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.