Oasis Foundation partners with Tidal to integrate their insurance protocol with the Oasis Network
Bringing decentralized insurance to the Oasis Network
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We’re thrilled to announce that Tidal will be integrating their cross-chain insurance protocol with the Oasis Network. Tidal Finance provides insurance coverage for a variety of assets in custom liquidity pools.
Through their platform, DeFi users can buy and sell over-leveraged covers, allowing them to hedge against failure of any DeFi protocol or asset. As the Oasis Network rapidly expands its DeFi ecosystem, tools like Tidal will be critical to ensuring that investors can take advantage of a new class of privacy-enabled financial vehicles while minimizing their risk exposure.
The plan is to leverage Tidal’s protocol to provide asset coverage for lending protocols and DEXs that will be integrated into the Oasis Network in the coming months.
“We are excited to work with Oasis to pioneer the next frontier of smart contract coverage” said Tidal co-founder Chad Liu.
This integration will go beyond just providing insurance capabilities. The Oasis Network’s unique ability to keep smart contracts and their data confidential, will also allow Tidal to explore expanding their claims process to include anonymous, democratized voting on claims processing with their community. In short, their community could vote on whether a particular claim should be approved in a privacy preserving manner.
We’re excited about the future of this partnership, and thrilled to see Tidal join the Oasis community. Their addition to the expanding list of DeFi partners building on the Oasis Network brings us one step closer to realizing our vision for a responsible data economy and privacy-enabled DeFi.
About the Oasis Network
The Oasis Foundation (www.oasisprotocol.org) is an organization supporting the development and ecosystem surrounding the Oasis Network. The Oasis Network is the first privacy-enabled blockchain platform for open finance and a responsible data economy. Designed to give users back control and ownership of their data and financial sovereignty, the Foundation’s mission is to enable projects, developers and community members who seek to realize this vision. To learn more about the Oasis Network go to oasisprotocol.org or follow the Foundation on Twitter or Telegram.
About Tidal Finance
Tidal Finance makes DeFi safer by providing insurance coverage for assets across chains in custom balanced liquidity pools. With Tidal, Users can select risk pools by choosing any combination of protocols/assets and their coverage terms (premium, cover period, etc). Liquidity Providers, on the other hand, can invest in pools that suit their risk/reward ratio.
