Bridge Mutual and Standard Protocol Synergize to Increase Trust and Safety
Bridge Mutual ($BMI) announces a collaboration with Standard Protocol, a Collateralized Rebasable Stablecoin protocol for synthetic assets operating across Polkadot ecosystem. Within this synergetic partnership, Bridge Mutual and Standard Protocol can better safeguard the collateralized assets.
Standard Protocol offers a solution to significant issues with algorithmic stablecoins. Arguably, the biggest challenges within their ecosystem are unsustainable use cases for interoperability, over- centralized oracles, and difficulty in tracking auctions. Standard Protocol fixes these issues by generating collateralizable stablecoins with elastic supply. Standard also proposes block rewards to oracle providers with an 8:2 ratio between validators and providers.
“Bridge mutual provides a secure risk coverage platform for users across the blockchain ecosystem, and Standard Protocol is looking forward to having coverage in our ecosystem as well. Insurances will take part significantly when DeFi ecosystem starts to mature, and Standard Protocol would like to lead the way with Bridge Mutual.”
— Hyungsuk Kang, Founder & CTO of Standard Protocol
By integrating Bridge Mutual’s discretionary and decentralized risk coverage widget into the Standard Protocol platform, users are able to protect their activities from unexpected risks in the ecosystem. This partnership between Bridge Mutual and Standard Protocol will offer an increase in trust and safety.
“Standard Protocol is offering intelligent solutions for first generation issues with algorithmic stablecoins. We’re excited to watch Standard’s progress in the DeFi Space, and we’re more than willing to contribute to the security of their ecosystem”.
— Mike Miglio, CEO of Bridge Mutual
You can participate in Bridge Mutual’s growth by getting your token on Uniswap or Bitfinex , and then staking it for rewards within the Bridge Mutual’s app. For a detailed walk-through of the Bridge Mutual’s innovative system, visit our Youtube channel.
About Standard Protocol
Standard Protocol is the first Collateralized Rebasable Stablecoin (CRS) protocol for synthetic assets that will operate within the Polkadot ecosystem. It is also the first and only project from Korea to be awarded a Polkadot Web3 foundation grant and prides itself on its global community growth approach.
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.