CAI announces partnership with Degis to enable price protection
The partnership
Colony and Phuture are delighted to announce an official partnership with Degis, the 1st DeFi insurance protocol on Avalanche, to enable price protection on $CAI, the Colony Avalanche Index.
Cryptocurrencies are volatile, risk is inherent and protocols can get exploited. Risk appetite is unique to each individual, but collectively, the need for adequate insurance coverage remains a gap in this rapidly growing asset class. Thanks to our partnership with Degis, $CAI investors will be able to mitigate risk and protect their entire basket of assets against great token price fluctuations, from both standard market changes and black swan events.
How it will work?
To date, the Degis Price Protection product covers BTC, AVAX as well as major Avalanche project tokens to reduce risk for the Avalanche ecosystem. Currently, most insurance protocols only focus on covering smart contract flaws and protocol hacks. On Degis, the product’s solid infrastructure covers token price fluctuations, which makes it interesting to a much wider market.
$CAI investors will be able to buy/sell/create corresponding protection token. The protection token holders will be compensated if the $CAI price is lower on the expiry date of the insurance.
Besides the ability to trade $CAI protection token before the expiry date, holders will also have the possibility to provide liquidity and harvest trading and mining rewards.
When will investors be able to utilize $CAI on Degis for price protection?
The price protection will be available to $CAI investors soon after the launch. More information will be shared in the coming weeks, stay tuned for announcements.
About Degis
Degis is the next-generation all-in-one protection protocol, the first on Avalanche.
Degis will offer exhaustive protection to users and traders, offer a decentralized protection market and ultimately bring scalable risk management to the crypto world.
Website | Whitepaper | Twitter | Discord | Telegram Chat Group | Telegram Announcements Channel
About Phuture
Phuture (PHTR) is a decentralised crypto index platform that simplifies investments through automated, themed index funds on Ethereum and Avalanche. Accessible by anyone with an internet connection, Phuture is perfect for investors looking to upgrade their crypto investment strategy. Founded in 2019, Phuture has raised USD 3.75 million from VCs and crypto funds. Follow Phuture on Twitter and subscribe to their announcements.
About Colony
Colony is a community driven accelerator, evolving into an inclusive DAO, to boost Avalanche’s ecosystem growth. Powered by a governance token: $CLY.
Colony deploys capital within Avalanche on early stages projects, provides liquidity to DeFi protocols, validates networks through stacking capabilities and will maintain an Index on top Avalanche projects. The true sustenance and value generated by Colony’s investments is routed back to the community through airdrops, a buyback mechanism, and staking rewards.
Website |Twitter |Medium |Telegram (Announcements)|Telegram (Discussion)
