Public Mint EARN to allocate TVL to Bridge Mutual Coverage Pools
As the financial sector continues to shift towards blockchain, allowing users to tap into the full potential of their investments, new risk coverage models are being implemented to act as a bulwark against potential user losses. To add another layer of protection for its users, Public Mint and our Earn Program (a fiat-native earnings App), is partnering with Bridge Mutual to bring discretionary risk coverage and security to its network. Public Mint Earn is an application that allows users to access additional earnings through different CeFi and DeFi platforms; this partnership will provide an additional level of assurance to Public Mint Earn users.
As part of Public Mint’s Earn App business model, 10% of the Total Value Locked (TVL) is dedicated to insuring the TVL. A portion of the 10% dedicated to insurance will be used to grow and sustain a discretionary coverage pool dedicated to Public Mint Earn on the Bridge Mutual ecosystem, protecting against potential losses caused by hacks or exploits against any of Public Mint’s Earn CeFi or DeFi partners. By partnering with Bridge Mutual, Public Mint can provide its user base much greater financial protection of their fiat ushering in a transparent and safe way for people to store assets digitally.
Public Mint is a fiat-native blockchain system that allows anyone to easily create fiat accounts and transfer funds between any individual, business, application and bank. Public Mint allows businesses, individuals and applications to access banking and payments, with or without a bank account.
Public Mint is a break-through Money System that powers the creation of innovative applications incorporating money, while eliminating the silos separating those with and without bank accounts.
Public Mint fosters a marketplace of Smart Services that can run on top of their programmable fiat platform. With this platform, any user can now create and access a modern bank account-like replacement that accepts various fiat currencies, such as USD, EUR, and GBP.
The Public Mint Earn program enables users to earn some of the most competitive rates in the industry through its Earn App. All value deposited in Earn is assigned to Public Mint’s CeFi and DeFi partners to generate earnings for users. Anyone can withdraw earnings in the local fiat currency of their choice at any time, simultaneously rewarding users MINT tokens for those who decide to stake them. Public Mint is a complete platform for synthetic fiat, regulated and fully collateralized with funds held on deposit with FDIC-insured financial institutions.
Currently using Prime Trust as our regulated custodian, the system is insured up to $130 million per depositor, creating a safe and intuitive financial platform for all.
“As a service targeted to any kind of user, regardless of its blockchain skill levels, it’s crucial that the Earn Program enables the conditions to provide protection against the loss of funds. Bridge Mutual makes it easy for us to deliver built-in resilience to market conditions, and we believe this will give people an added incentive to join and start earning fiat with peace of mind.”
Paulo Rodrigues, CEO of Public Mint
“Crypto service providers have a responsibility to help protect their customers against exploits, and we commend Public Mint for taking this seriously by offering built-in digital asset coverage on their new Earn platform.”
Mike Miglio, CEO of Bridge Mutual
About Public Mint Earn
Public Mint Earn (launch on Q3/2021) allows users to get earnings in USD. Targeted at both new and established crypto currency users, Public Mint Earn lets users deposit and withdraw USD and USDC. When they add funds to the Earn program, funds are assigned to Public Mint’s DeFi and CeFi partners. As users get earnings, they can withdraw them as USD. Users who stake MINT tokens and participate in the governance of the Earn Program get rewards and a portion of the overall earnings of the platform, also paid in USD.
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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, as well as share profit and get compensated for adjudicating claims. Bridge Mutual is planning to launch their platform at the end of March.
Learn more about Bridge Mutual: