This is a recap of Risk Harbor’s first community call on June 12th, 2021.

Major Announcement

Risk Harbor will be launching full-on mainnet on Tuesday, June 22, 2021!

Payout Mechanism


We have refreshed the Risk Harbor protection pools. Below are parameters of the new pools.

Mainnet

Pool Name: yearn Curve.fi yDAI/yUSDC/yUSDT/yTUSD protected with Compound USDC

Protected token: yearn Curve.fi yDAI/yUSDC/yUSDT/yTUSD ( yyDAI+yUSDC+yUSDT+yTUSD)

Underwriting token: Compound USDC (cUSDC)

Default ratio: yearn Curve.fi yDAI/yUSDC/yUSDT/yTUSD losses 80% of it’s redeemability back into Curve.fi yDAI/yUSDC/yUSDT/yTUSD.

Payout ratio: 58.823 cUSDC per 1 yearn Curve.fi yDAI/yUSDC/yUSDT/yTUSD

Staking rewards: 35k Risk Harbor tickets

Expiration: June 20th

Polygon/Matic

Pool Name: Matic Pool Together USDT tickets protected with Aave Matic USDC

Protected token: Matic Pool Together USDT (PT USDT)

Underwriting token: Aave Matic USDC (amUSDC)

Default ratio: PT USDT losses 50% of it’s redeemability back into USDT

Payout ratio: 1 amUSDC per 1 PT USDT

Staking rewards: 25k Risk Harbor tickets

Expiration: June 20th


Protect and underwrite protocols on one of the fastest growing ETH sidechains

Perquisites:

  • Have some USDC on Eth mainnet

1. Add Matic network to your wallet

Matic isn’t supported by default so you need to manually add it. Instructions for adding the network can be found here: https://docs.matic.network/docs/develop/metamask/config-matic/

2. Use a bridge service to move USDC from Ethereum to Polygon:

What is a bridge?: Bridges allow users to move funds between different chains.

Matic Web Wallet V2 Connect Wallet Screen
  • Select your wallet of choice, accept the messaging signing request, and continue to the dashboard.


Today we’re excited to announce that the Risk Harbor PoolTogether USDT protection pool is now supported on Polygon (formerly Matic Network).

With the Polygon integration, Risk Harbor users can now purchase protection for their yield farming on Polygon. This also means that users with already productive tokens like Aave Matic USDC (amUSDC) can maximize their yield by underwriting protection on Risk Harbor. Since Polygon’s gas prices are negligible, users can now perform all of these operations without having to worry about gas fees.

About the PoolTogether Protection Pool

Here’s a guide on how to underwrite this Risk Harbor pool on Matic

How do I access this new pool?

Users can access this…


Background

Risk Harbor is launching the first mainnet protection pool that is now in private beta for whitelisted users only. This pool will protect Yearn Curve.fi yDAI/yUSDC/yUSDT/yTUSD deposits and will be underwritten with cUSDC. Risk Harbor will also be distributing 80,000 tickets that will later be redeemable for a certain amount of Risk Harbor tokens, in the next 30 days through a staking contract for this specific pool. Underwriters can deposit their underwriter tokens into the staking contract to earn rewards.

Audit

  • Successful audit by CertiK
  • Currently getting another audit by ADBK Consulting

Yet to be audited


The decentralized finance world is not a newcomer to hacks and attacks by unscrupulous elements. Last year alone, more than a hundred million dollars’ worth of assets were stolen from DeFi protocols like Balancer Protocol, SushiSwap, and even bZx.

Photo by Jeswin Thomas on Unsplash

Parametric insurance is not a new concept to the traditional finance world. For example, a payout is triggered once a chosen event goes beyond the agreed-upon threshold. When it was initially designed, it was used solely for natural catastrophic cover, but it has now gone beyond that.

An important aspect of parametric insurance is that it makes insurance work efficiently. Traditional…


The year 2020 was not only terrible to those that suffered from COVID-19, but the DeFi world suffered a number of attacks as well. More than $300 million was lost in these attacks and some were linked to the founding team of these initial DeFi platforms.

DeFi exploits rocked a number of reputable DeFi protocols in 2020. For an exploit to occur, the attacker has to acquire in-depth knowledge on how the smart contract operates, and then use that knowledge to manipulate it in a bid to fleece tokens. …

Risk Harbor

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