Solv Finance Launches a $1 million Coverage Plan Through Tidal Insurance
On a journey to bring protocol insurance to the industry, we are proud to announce another partner to join the covered ecosystem. With our flexible weekly subscription coverage plan, Tidal Finance has Solv Finance covered. Rest assured, Solv Finance has taken great deal of precaution by insuring their project and combining it with auditing from SlowMist.
In the pursuit of higher protocol security, Solv has purchased $1-million USD worth of insurance coverage through Tidal Finance. The current plan covers smart contract vulnerabilities deployed on Ethereum and Binance Smart Chain. Needless to say, this is quite momentous as this is the FIRST time DeFi insurance is being applied to the NFT sector!
Through this collaboration, we will also adopt Solv Finance’s first financial NFT use case — Solv Voucher. Solv Voucher is leveraged to mint vesting vouchers in certain cases to distribute ecosystem funds, and to provide mining incentives platform users.
Solv Finance’s reserve pool will be ready for deposit and reserve providers will be able to earn Solv policy premiums and rewards starting from the week of Sep 26th 2021. Current reserve providers could simply add this new pool to their basket and start earning rewards