InsureDAO updates July 2022
Hi Insurenauts!
It was an exciting month for InsureDAO. Let’s recap our significant progress in the last month.
- Insurance pools for 18 protocols were deployed on InsureDAO Optimism
- 2 Insurance pools were deployed on InsureDAO Astar
- More than $266k of insurance amount was sold on Optimism
- More than $130k of insurance amount was sold on Astar
- Launched InsureDAO on zkSync testnet
We’re now working hard for bringing more exciting updates to the community. Stay tuned!!
Announcement
Here are the announcements we published over the past month.
July 22th: Insurance for Starlay Finance was sold out
July 22th: InsureDAO was deployed on the zkSync testnet
Aug 2th: InsureDAO launched 17 insurance pools on Optimism
Aug 7th: InsureDAO attended the Korean Blockchain Week
Aug 9th: InsureDAO sold insurances of $174k cover amount in one week
Aug 9th: InsureDAO is accepted into AstarNetwork sApp Staking
Aug 10th: The insurance pool for the Aave became available
Aug 11th: Extended the max cover period to one year
Aug 11th: InsureDAO is listed on the Optimism ecosystem
Aug 17th: InsureDAO sold insurances of $45k cover amount in one week
Development
Multi-chain
Optimism:
- Optimism: released 18 insurance pools on optimism
・Extended the max cover period to one year
zkSync:
- Deployed on zkSync testnet on July 21th
The development of a new type of insurance
Our dev team is now hard working to launch a new type of insurance. We are now only providing insurance for smart contract risk, but we will launch new insurance for another significant risk in the DeFi space. stay tuned!
Front end Updating
We are going to update the front end.
- Updating Mainnet UI
- Boost Calculator
etc…
Business Development
Multi-chain
Optimism:
As mentioned above, We launched insurance pools for 18 protocols on Optimism. You can cover your depositing funds in the following protocols on Optimism against smart contract hacking/bug risk:
Aave, Arrakis, Beefy, BeethovenX, dForce, dHEDGE, Hop Protocol, Kwenta, Lyra, Perpetual Protocol, Pika, Polynomial, PoolTogether, Rubicon, Synthetix, Tarot, Thales, Velodrome.
Active insurance velue on Optimism is now $266k.
In August,
Number of sold Insurances: 44
Total value of sold Insurance: $228k
Best-Seller Insurances: Hop, Velodrome, Aave, Synthetix, Tarot
(Insurance sold over $10,000).
Astar:
So far, we launched two insurance pools for: Arthswap and Starlay. Insurance for Starlay Finance was successfully sold out, and $130k of insurance amount was sold on Astar in total.
Payout rule Update
As we passed the governance proposal “IIP-7 Update the payour rule”, we updated the payout rule. you can check the new one below.
Listed on DappRadar
InsureDAO is now listed on DappRadar. You can check the protocol statistics on the page.
About InsureDAO
InsureDAO is a decentralized insurance protocol, allowing anyone to create an insurance pool easily to “Cover every single risk in DeFi space”. InsureDAO provides an insurance builder kit and insurance market. Additionally, we will offer the lending function to INSURE token stakers.
If you are interested in learning more, check out our LP.
Also, you can join us on Twitter, Discord, or Telegram! :)
Twitter: https://twitter.com/insuredao
Discord: discord.gg/8BA5f5rurq
Telegram: https://t.me/InsureDAO
