To facilitate cooperation and knowledge exchange between the BMI and LUNA communities, the Bridge Mutual team will participate in an AMA hosted by Terra Money to explain the potential of this partnership to the communities of both projects. The AMA shall take place on the 27th of June at 17:00 KST.
Terra Money is one of the biggest and most innovative crypto initiatives worldwide. Anchor Protocol allows Terra stablecoin deposits to earn stable yield powered by block rewards of leading proof-of-stake blockchains. Terra remains stable, utilizing Luna to absorb the short-term volatility of its algorithmic stablecoin pegs, the foundation that enables the scalability required for mass adoption.
Terra Money will participate in Bridge Mutual’s Coverage Mining Event on June 29, and commit initial liquidity for its users to purchase coverage for their Anchor positions from the very beginning of the Bridge Mutual platform. Terra stablecoins offer instant settlements, low fees, and seamless cross-border exchange — loved by millions of users and merchants.
“We’re delighted to add Bridge Mutual’s Insurance for Anchor, offering protected yield on Anchor deposits of 14% or more. Insurance is a critical aspect of providing Anchor users with the type of assurances for financial remuneration of covered events characteristic in TradFi, helping to lower barriers to entry for non-DeFi users.” — says Matt Cantieri, GM of Anchor.
“Terra Money has revolutionized the blockchain space by introducing programmable money into commerce, and it’s now doing it with decentralized finance. We’re excited to provide Terra’s community with decentralized coverage opportunities on the Bridge Mutual platform, and to work with Terra’s team on new solutions in the future.”
— Mike Miglio, CEO of Bridge Mutual
In case you have missed the big news, the official Bridge Mutual launch is happening on June 29, 2021, and starts with a Coverage Mining Event! You can read about the details of the launch here, as well as watch our entertaining video trailer for the upcoming launch here. To stay up to date with all news, make sure to follow us on Twitter.
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About Terra Money
Terra is an application-specific blockchain built on the Cosmos SDK and Tendermint consensus. The Terra protocol deploys a suite of algorithmic, fiat-pegged stablecoins underpinning a thriving DeFi ecosystem like Anchor and Mirror Protocol. LUNA, the native staking and governance asset of Terra, absorbs the short-term volatility of Terra’s stablecoins, with Terra’s stablecoin (e.g., UST) demand a function of demand for Terra’s DeFi ecosystem. Website | Twitter | Telegram | Youtube | Telegram Ann | Discord
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.