API3 is pleased to announce a partnership with Shield Finance, a multi-chain DeFi insurance aggregator. Shield Finance will deploy Market Crash Protection contracts for API3, and also assist API3 in making this feature available to API3’s community. Shield Finance will also explore opportunities to use API3’s dAPIs (data feeds) once these are operational.
Market Crash Protection allows token holders to hedge against adverse price movement of specific tokens, acting as insurance in the event they occur. The availability of insurance products like Market Crash Protection allows API3’s community to manage their risk exposure while staking, and provides another option for the DAO itself to take into account when hedging against risks. Treasury management is an essential part of the long-term viability of any DAO, and adding Market Crash Protection into the toolkit the DAO is able to use will help the DAO during periods of high market volatility.
Shield Finance will also be exploring using API3’s dAPIs (data feeds) once they are available. Pairing truly decentralized data with quantifiable security will benefit the other projects that Shield Finance are providing insurance to as well, strengthening the early blockchain insurance ecosystem.
Quotes
“Being able to hedge against perceived risks is a useful tool for both individuals, and potentially the DAO itself. Traditional markets have benefited from products allowing this for over 40 years, and API3 is excited to see dapps offering the same functionalities emerge”
— Heikki Vänttinen, Co-Founder, API3
“We’re excited to provide Market Crash Protection for $API3 token holders to give them peace of mind in the light of the current market conditions. We believe that API3 project is necessary for decentralized infrastructure given that oracles are an indispensable part of the DeFi ecosystem and we want to drive long term value to the users by providing a protective Shield”
— Denis Gorbachev, CEO, Shield Finance
About Shield Finance
Shield Finance is a Multi-Chain DeFi Insurance Aggregator that allows users to buy protection against major market crashes due to black swan events (hacks, exploits, rug pulls, sell-offs). Incubated by Master Ventures (MV Fuel), Shield utilizes a proprietary aggregation engine to provide insurance packages for investors & traders. The $SHLD token enables governance and provides staking rewards at 30% stable APY, and is subject to a quarterly buyback and burn program.
About API3
API3 builds decentrally governed and quantifiably secure data feeds that power Web 3.0 applications without employing third-party intermediaries. Powered by Airnode-enabled first-party oracles, API3’s dAPIs are fully decentralized and blockchain-native APIs with quantifiable security. Download our full whitepaper here.
Shield Finance Links
Telegram — https://t.me/ShieldFinanceHQ
Twitter — https://twitter.com/ShieldFinance
Medium — https://medium.com/shield-finance-hq
Reddit — https://www.reddit.com/r/ShieldFinanceHQ
API3 Links
Twitter — https://twitter.com/API3DAO
Telegram — https://t.me/API3DAO (Community Chat)
Discord — https://discord.gg/qnRrcfnm5W (Builder Chat)
Github — https://github.com/api3dao
Reddit — https://www.reddit.com/r/API3
