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Royale Finance & Bridge Mutual Tackle DeFi Risk Coverage Problems

Royale Finance is always looking to protect its Kings and Queens, this is why the latest partnership with Bridge Mutual is of tremendous importance to the growing Royale ecosystem. Royale and Bridge Mutual will work together to enhance the Royale ecosystem by transforming it into a platform that protects its users via risk coverage. This will involve the integration of the Bridge Mutual widget into the official Royale app allowing users to access decentralized risk coverage directly from the Royale app.

Bridge Mutual: Decentralized Risk Coverage

The traditional insurance industry is heavily centralized and overly profit-oriented. This centralization and opaqueness have led to a drop in the public’s level of trust for conventional insurance companies. Rightfully so, many of these companies are so focused on their bottom line instead of tending to the needs of their clients. Bridge Mutual aims to provide a different kind of risk coverage option; a decentralized alternative that is completely transparent and focuses on delivering protection to its users.

The blockchain-oriented coverage solution is a breath of fresh air especially for those individuals involved in the crypto-space which is rife with a plethora of risks. Bridge Mutual network seeks to provide coverage for crypto users against failure in smart Contracts, Stablecoins, Wallets or exchanges. Unlike its traditional insurance counterparts, Bridge Mutual is offering a decentralized platform that permits users to insure each other’s risks, with transparent protocols that allow claims to be audited by the public.

Bridge Mutual is built on the cross-blockchain network — Polkadot, to ensure the smooth processing of claims on the network. Bridge has also eliminated the need for branches or KYC; this means Bridge Mutual can be used by anyone, anywhere. Moreover, whenever a participant buys coverage, other users will also earn yields in the native token — BMI through a profit-sharing mechanism.

Royale Finance & Bridge Mutual Provide Easy Risk Coverage Access

Royale Finance and Bridge Mutual are working together to build a bridge that easily connects Royale’s ecosystem users to decentralized coverage solutions. This partnership will grant Royale’s monarchs access to risk coverage options from the Royale app. With the widget, users will soon be able to purchase risk coverage directly on the Royale platform without having to leave and go to Bridge Mutual.

The integration of Bridge Mutual’s widget is a front-end element that is directly connected to Royale Finance pools meaning the coverage option is available to all users of the Royale ecosystem. The partnership is a win-win for all parties involved; The users of the Royale platform have peace of mind transacting, Royale Finance gets to provide its users with decentralized coverage options and foster trust on its platform, while Bridge Mutual gets to expand its growing user base. This risk coverage protocol will protect Royale’s Kings and Queens from loss caused by hacks or smart contract failures. In the event any participant’s staking is maliciously manipulated and people suffer a permanent loss. However, with Bridge Mutual, they will all be compensated for their loss provided they purchased risk option coverage.

There are many risks involved in dealing with blockchain ecosystems especially considering the threat of poorly coded smart contracts, system hacks or other exploits, the arrival of this decentralized risk coverage solution is welcomed by Royale Finance and seen as a great opportunity to build confidence in its system and ensure utility and viability long term.

“As blockchain technology evolves, malicious actors upgrade their tools to keep up with new security features. Therefore our risk coverage is becoming a big priority for many users in this space. We recognize this need and our partnership with Royale Finance illustrates what we hope to accomplish with many other blockchain ecosystems in the industry: easily accessible decentralized risk coverage.” — Mike Miglio — CEO

“While the blockchain is a fairly safe system, it is not completely impervious. Since its inception, there have been issues of compromised systems and ineffective smart contracts that have led to painful losses for many users. With the integration of the Bridge Mutual Widget, we hope to provide our Royalety with the option to insure their transactions and protect themselves against any unforeseen circumstance.” — Matthew Armstrong, COO Royale

About Royale Finance 👑

Royale Finance is an industry-focused decentralised lending protocol. Its purpose is to create Web 3.0 smart-backed funding solutions using De-Fi primitives in order to support the innovation of iGaming products and platforms. The combination of iGaming rewards, uncorrelated to De-Fi crypto assets but powered by base layer De-Fi protocols, we call iGDeFi.

Website | Whitepaper | Telegram | Medium | Twitter | LinkedIn

About Bridge Mutual

Bridge Mutual is a decentralized, discretionary coverage platform that seeks to offer blockchain network participants insurance coverage against risks associated with Smart Contracts, Stablecoins, Exchanges. Bridge Mutual aims to boost investor’s confidence and trust across blockchain platforms by providing users with easy access to risk coverage through its widget integration and utility incentives via its profit-sharing apparatus.

Website | Telegram | Medium | Twitter | CoinGecko | Instagram

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Royale

Royale

Industry focused De-Fi for i-Gaming