Partnering with Bot Ocean was an easy choice for us — the synergy is strong.
Bot Ocean gives its users the ability to leverage the power of automated trading bots on both Centralized Exchanges and Decentralized Exchanges in a seamless platformed experience. Users have access to hundreds (and eventually thousands) of trading strategies. However, there is a degree of trust required wherein users that are trading on Decentralized Exchanges are required to give the bots custody of their funds — this is where Bridge Mutual comes in.
Bridge Mutual is built on top of the Polkadot infrastructure to enable high speed and scalability. The platform allows users to protect their funds being held in smart contracts or exchanges, and also provides price protection for stablecoins. The Bridge Mutual platform operates without any central control and the insurance claims are managed through a multi-phase voting system that offers rewards and penalties to ensure genuine votes.
The platform also does not require its user to share their identification details, thus ensuring anonymity and security of the users. The coverage funds on Bridge Mutual are stored in a smart contract, making it non-custodial and out of reach of any Bridge Mutual team members.
As part of the partnership with Bot Ocean, users on Bot Ocean will be able to easily purchase coverage for the assets being traded in their portfolio directly from the Bot Ocean interface. Users can rest easily knowing that their funds are safe from exploits, hacks, and rug pulls.
“As the world of decentralized finance grows and reaches a wider population, decentralized insurance alternatives are critical to create trust in this new economic infrastructure. Our partnership with Bridge Mutual comes as part of our initiative to add maximum value and safety for the users on Bot Ocean.” said Dragos Lipa, the Founder and CEO of Bot Ocean. “As we move forward from here, we aim to onboard more such partners to ensure the best services for our users.”
Mike Miglio, the CEO of Bridge Mutual said, “Bridge Mutual aims to protect the crypto industry and lay the foundation for a revolutionary new way to attain asset coverage such that people won’t have to worry about losing large portions of their net worth overnight due to unforeseeable events. Our partnership with Bot Ocean is a step forward in that direction, as we believe their platform will be responsible for automatically managing hundreds of millions of dollars in value, and these funds deserve protection.”
About Bot Ocean
Bot Ocean is a cryptocurrency ecosystem building the next-generation of algorithm trading tools and bots. The company allows traders to choose from a wide range of trading bots and combine trading strategies to fit their risk levels. The Bot Ocean platform offers the best cryptocurrency trading bots that have been tested against massive historical data and can outpace any human trading strategy.
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.