Uno Re Provides Staking Pool Coverage to Router Protocol
With pleasure, we announce our partnership with Router- a cross-chain liquidity aggregator and infrastructure layer enabling communication between blockchains.
In light of this partnership, Uno Re will provide Router Protocol with staking pool coverage of up to $200,000, and users will be able to bridge $UNO across chain via our integration with Router’s Bridge.
Uno Re x Router Protocol
Router Protocol aims to tackle the “fragmented liquidity” problem. An underemphasized problem within DeFi space, this issue causes trouble for users that want to move their funds between different chains and protocols.
Fragmented liquidity can be summed up as follows:
There are hundreds of protocols offering interest rates, token rewards, and liquidity incentives, attracting millions of users and billions of dollars worth of capital. However, the massive influx of users creates an unsustainable network demand for the Ethereum ecosystem, which leads to high fees.
To tackle this issue DeFi protocols built alternative blockchains that are more scalable than the Ethereum base layer. Layer 2 blockchains — such as Polygon — that integrate with Ethereum, as well as alternatives such as BSC have emerged. While these alternatives solve the fee problem, they created a new one: fragmented liquidity.
Router Protocol acts as a cross-chain bridge and liquidity aggregator at the same time to solve this issue. It ensures all funds that move through the protocol are first transferred into stablecoins on the source chain and then swapped into the user-desired asset on the target chain. If for some reason there is little to no liquidity of stablecoins assets on a destination chain, the Router’s emergency liquidity reservoir steps in.
Uno Re is delighted to be insuring the staking pools of Router Protocol to help ensure the security of staked funds that are essential for the protocol to function. Should an attack targeting any Router pool occur, Uno Re will compensate for the losses of up to $200,000.
“We support projects that aim to improve interoperability of blockchain platforms. I would like to welcome Router Protocol onboard and wish this partnership to be long-lasting and productive for both parties’ users.”
— Jaskanwar Singh, CEO and Co-founder of Uno Re
Disclaimer: This announcement is not proof of cover activation; as always, our partner Router Protocol will be notified of cover activation via formal email sent to their registered email address.
About Uno Re
Uno Re is the world’s first decentralised insurance and reinsurance platform, allowing the community to invest and trade in ‘risk’ and receive sizable returns on their investments in one of the safest asset classes in the world. We have over $10M in combined coverage across various crypto protocols and have underwritten risk for over 100 protocols on our B2C Insurance Sales dApp — The Cover Portal.
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About Router Protocol
Router Protocol is building a suite of cross-chain infra primitives that aims to enable blockchain interoperability between current and emerging Layer 1 and Layer 2 blockchains.
