Linear Finance — Bridge Mutual: Strategic Partnership Announcement
Dear Linear Community,
Many of you know that risks can be unpredictable in the crypto field, especially in the DeFi space. Linear Finance is thrilled to announce that we have partnered with decentralized risk coverage platform Bridge Mutual. Assets held on Linear Finance can now be covered from the unforeseeable events through Bridge Mutual.
On August 17th 2022, Bridge Mutual announced they released a BNB version of their dApp as well as a bridge for BMI tokens to the BNB Chain. This new implementation meant we can now create a LINA pool on the Bridge Mutual dApp for users to receive and provide coverage, which is exactly what we did.
We believe this partnership will allow users to explore the Linear ecosystem without worrying about external factors that sometimes tarnish the DeFi space. Users can interact with our ecosystem and have confidence they are covered.
Kevin Tai, Project Lead of Linear Finance said, “We are excited to collaborate with Bridge Mutual as they have built out a comprehensive risk coverage platform. And in true DeFi fashion, this not only allows Linear users to purchase additional coverage on our protocol but also users to stake and act as coverage providers on our and other partner protocols.”
To begin with, the team has added initial liquidity of 3,100 USDT into the Linear Finance coverage pool on Bridge Mutual. This allows Linear users to get coverage for themselves. Additionally, community members can provide coverage to the pool for other users to use.
Coverage providers will receive rewards in the form of USDT from premiums paid, and Bridge Mutual tokens (BMI) from the reward pool. Both USDT and BMI rewards depend on the pool’s utilization ratio which determines each pool’s perceived risk.
Linear Finance Team
About Bridge Mutual
Bridge Mutual is a decentralized, p2p/p2b discretionary risk coverage platform that provides coverage for stablecoins, centralized exchanges, and smart contracts. Its platform allows users to provide coverage, decide on policy payouts, share profit, and get compensated for adjudicating claims.
About Linear Finance
Linear Finance is a cross-chain compatible, decentralized delta-one asset protocol that allows users to get synthetic exposure to various assets, including cryptocurrency, commodities, and market indices. Users can utilize our cross-chain swap functionality to instantly swap assets across leading blockchain environments and DeFi protocols with unlimited liquidity and zero slippage.