September 21, 2021 - 3 min read
SupraOracles is proud to announce its partnership with InsurAce, a decentralized insurance protocol that addresses its industry challenges regarding accessibility, underlying risk, and capital inefficiency. The platform protects users from risks ranging from smart contract hacks to general investment risk.
Additionally, insurance users, insurers, and investors can stake in the liquidity and investment pool to earn InsurAce tokens (INSUR). InsurAce.io is deployed on three chains, Ethereum, BSC, and Polygon, and will soon deploy on a fourth chain, Avalanche. Insurance coverage is available on eight chains for over seventy protocols.
Our partnership together aims to support InsurAce’s multi-chain environment. As InsurAce.io develops its cross-chain aggregators, SupraOracles is ready to adjust and customize its oracle capabilities to work with InsurAce.io’s to develop an integration to help improve its efficiency. SupraOracles will provide fast, secure, and reliable oracle services to ensure that InsurAce.io effectively executes fair risk assessments of each protocol.
Oliver Xie, Founder of InsurAce.io, commented: “By leveraging the power and data of oracles, InsurAce.io continues to improve its service to our end-users and community, allowing us to make DeFi a safer, more affordable space for everyone.”
Joshua D. Tobkin, CEO and Co-founder of SupraOracles, commented: “We are very impressed with InsurAce.io’s resolve to analyze risk without giving special treatment to any protocol. SupraOracles is dedicated to supporting InsurAce’s mission with our secure Oracle technology.”
SupraOracles strives to bridge the gap between traditional capital markets and the Web3.0 ecosystem. Our vision and driving mission is to empower the developer community with a novel oracle toolset so that they may conveniently create, deploy, and manage data applications with superior performance, robustness, and agility.
Our project is supported by seasoned professionals with experience in the architecture of consensus mechanisms, randomness research, real-time data services, investment banking, digital securities, traditional stock exchanges, big data, doctoral academia, big 4 consulting, blockchain/DLT, and DeFi.
Together with our developer community and growing list of partners, SupraOracles aims to solve the oracle dilemma and ultimately, power the future of finance.
InsurAce.io Protocol is a Singapore-based DeFi Insurance protocol that has quickly become the second-largest protocol in DeFi insurance. The $INSUR token was released in February 2021, followed by a mainnet launch to the Ethereum Network in April 2021.
InsurAce.io is a decentralized insurance protocol, covering 60+ protocols on 8+ chains, built to empower the risk protection infrastructure for the DeFi community. InsurAce.io offers portfolio-based insurance products with optimized pricing models to substantially lower the cost, up to 60% lower than other protocols, simultaneously reducing gas fees by up to 50%.
The project lead for InsurAce is Oliver Xie, formerly the CTO in one of the three largest Singapore-based licensed derivative Exchanges and Clearing Houses.
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