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ArmorFi

Armor.Fi Announces Strategic Backers

The Armor team is honored to announce that Collider Ventures, Delphi Ventures, Divergence Ventures, DeFiance Capital, Alameda Research, 1kx, The LAO, Blocksync and Bering Waters Ventures have joined Armor as strategic investors.

Their insights and contribution have been essential to Armor’s mission already, to help the team and community work to secure mass-scale adoption of DeFi protocols both with institutions and individuals.

Yan Liberman at Delphi Digital shared how he and his team view Armor:

“We view Armor as a highly synergistic product in the space, particularly with Nexus Mutual, because of how varied their strengths are (…) I think you’ll see new coverage primitives developed knowing that Armor can address some gaps that might make their model unfeasible otherwise.”

Darryl Wang described why DeFiance Capital is happy to back the Armor team:

“We have been impressed with what you have done with Armor so far and are enthusiastic supporters of what you are building.”

Adam Benayoun, Founding Partner at Collider Ventures, sounded off:

“As an early backer of Nexus Mutual, supporting synergistic products that extend and innovate the capabilities of Nexus is a high priority. Crypto-native asset coverage has the potential to become one of the biggest and most important pillars of DeFi and we view ARMOR and its team as an indispensable player.”

Armor’s Progress So Far

Within 2 days of launch Armor opened up $250m in Nexus Mutual coverage capacity and sold $185m worth of coverage with over $1.2m in premiums paid.

Within three days, the Armor NXM vault generated 1.3% returns (381.4% annualized) through coverage purchases on Armor, yInsure, and Nexus Mutual.

Armor will soon introduce two more features — the Smart Cover System and Armored Shield Vaults, to simplify and streamline access to coverage solutions for user assets.

Users may cover their assets against smart contract risks across popular protocols such as Uniswap, Sushiswap, AAVE, Maker, Compound, Curve, Synthetix, Yearn, RenVM, and Balancer. The team is actively working on adding more protocols to the list (stay tuned).

What is Armor?

Armor is the first-ever dynamic cover brokerage protocol for DeFi. It empowers its users to permissionlessly leverage a “Pay as You Go and Only Pay What You Owe” coverage system for their funds across various pre-selected protocols.

Our objective is to build a dynamic asset coverage system that can keep up with the rapid pace and movement of the modern DeFi investor. Users are billed by the second without any upfront cost or fixed duration requirements. It’s simply kept open as long as they need it.

In the same way Chainlink has become systemically important to the adoption of DeFi with developers, we aim to be the same with users.

Our leadership’s vision, team, and roadmap are all aligned to reach the same goal, working together for Armor to become a key component to the mass adoption of DeFi with both institutions and individuals.

Armor is hiring:

If you are a skillful Solidity Developer who wants to help build the Armor ecosystem, please contact: dao@armor.fi

About Armor

Armor’s focus is on building an ecosystem of interoperable protocols and products to secure and scale mass adoption of DeFi both with institutions and individuals.

Website:
https://armor.fi/

Twitter:
https://twitter.com/armorfi

Telegram:
https://t.me/armorfi

Announcements:
https://t.me/armor_ann

Discord:
https://discord.gg/DTPUmrd6QA

Documentation (Dynamic Whitepaper):
https://armorfi.gitbook.io/armor/

Introductory post:
https://medium.com/armorfi/introducing-armor-14cccb5d1699

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