Plethori Partners With Multichain DeFi Insurance Aggregator — Shield Finance
Plethori are proud to announce the formation of a new strategic partnership with Shield Finance — a multichain DeFi insurance aggregator.
Shield Finance have developed an insurance aggregator which enables investors to protect their portfolio against ‘black swan events’ (hacks, exploits, rug pulls, market crashes). They will offer custom insurance packages, tailored according to individual investors’ needs.
The partnership will provide Plethori’s users with the power to insure their investments against negative price movement. Shield Finance will deploy Market Crash Protection contracts to cover the $PLE token. Holders will be able to insure their tokens against loss, giving them the ability to sell their $PLE at a guaranteed price (irrespective of current market price). Plethori also have plans to explore deploying the same insurance contracts to cover their range of available ETFs.
Plethori will be including Shield’s token — $SHLD — in an insurance ETF, providing access to and investment in the $SHLD token across Plethori’s platforms.
Denis Gorbachev, CEO of Shield Finance, said: “We’re excited to work with Plethori, especially about the opportunity to deploy Market Crash Protection for their ETFs. This will benefit both the holders of $PLE and $SHLD because the ETF buyers will be able to protect their positions with Market Crash Protection, and the fees from protection purchases will go towards buying & burning of $SHLD.”
About Shield Finance
Shield Finance is a multi-chain DeFi Insurance Aggregator that allows users to buy protection against major market crashes due to hacks, exploits, rug pulls, sell-offs, and other black swan events. We are currently integrating multiple insurance providers to provide our users with reduced slippage and expansive coverage.
About Plethori
Plethori is a Cryptocurrency ETF Investment Platform that allows open trading and creation of trustless ETFs by utilizing blockchain technology and layer 2 solutions. The platform offers decentralized cross-chain investment for exchange-traded funds built on the Ethereum and Polkadot blockchains. This service will allow investors to deposit capital and invest in a wide range of ETFs enabling investment into entire cryptocurrency industries such as insurance, oracles, NFTs, Derivatives, Polkadot ecosystem projects and many more.
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