Bumper X InsurAce — Partnership Announcement
Today Bumper is proud to announce our partnership with InsurAce — the decentralized multi-chain insurance protocol. Bumper aims to protect users and traders from market crashes. As such, it was only natural for us to partner with the likes of InsurAce, who have a proven track record of providing high-quality coverage to DeFi users.
Together, Bumper and InsurAce will provide users with a safe and secure environment to freely interact with DeFi apps without worrying about factors outside their control, such as market crashes, hacks, rug pulls, etc.
“As part of our continued mission to make crypto safer for everyone, it is always great to see new solutions to help users protect their assets. We are proud to partner with Bumper and work with them on solutions that help to reduce users’ exposure to market volatility. With unique solutions like this, coupled with insurance and other security protocols, we continue to build the infrastructure for the future of finance and decentralized systems,” said Oliver Xie, Founder, InsurAce.io.
InsurAce.io is a decentralized multi-chain insurance protocol to empower the risk protection infrastructure for the DeFi community. It provides portfolio-based insurance products with flexible underwriting and covers cross-chain DeFi projects to benefit the whole ecosystem. As of writing, InsurAce.io has provided coverage to 90+ protocols, has protected over $170M DeFi assets on 12+ public chains. The protocol is backed by DeFiance Capital, Parafi Capital, Alameda Research, Hashkey group, Huobi DeFiLabs, Hashed, IOSG, Signum Capital, LongHash Ventures, etc.
The Bumper protocol is a pure, decentralized market for on-chain asset price volatility. Users of protection set a floor price, and if the market crashes, their asset will never fall below that price. Importantly, if the market pumps, their asset rises too.
Protected positions incur an incremental, floating premium based on asset price movements. This, in turn, is used to incentivize the complementary side of the market wherein stablecoin depositors may supply stablecoin into a liquidity reserve and earn a yield.