Tidal Partners with Injective Protocol to Provide Insurance for Decentralized Derivatives
Through the Injective Protocol and Tidal Finance collaboration, Tidal will provide insurance coverage to the assets on the Injective Chain. This will bring in a new level of security and confidence to the derivatives trading platform.
Injective is the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized derivatives and borderless DeFi. It supports margin trading, derivatives, and futures with the aim of enabling access to any and all markets. Injective has already launched a diverse array of unique markets on their platform such as Tesla stocks, Euro forex trading, and even GameStop stock trading.
Tidal Finance is a decentralized discretionary insurance cover protocol offering the DeFi community the ability to hedge against failure of any DeFi protocol or asset. This collaboration will bring tremendous value to both the Tidal Finance and Injective ecosystems.
Providing Insurance for Decentralized Derivatives
Tidal is a decentralized discretionary mutual cover protocol that offers the DeFi community the ability to hedge against any issue faced by DeFi protocols or assets.
Injective Protocol provides traders unparalleled access to new decentralized derivatives markets without any restrictions. Its fast, secure, and fully decentralized layer-2 DEX supports margin trading, derivatives and futures trading.
Injective Chain is a highly secure network that has been extensively analyzed and developed over the past two years. In order to further bolster its offerings, Injective has been analyzing a number of decentralized insurance platforms to integrate. The addition of Tidal Finance’s insurance offering will help to increase the level of protection for traders on the platform moving forward. This is done in order to protect against hacks, malicious actors, and other unforeseen events.
Tidal Finance aims to provide comprehensive asset coverage through its mutual cover pools.
Injective Protocol’s native token INJ will also be added onto Tidal Risk Pools, enabling LPs to earn more yields by providing mutual cover.
Moving forward, Injective also aims to create unique decentralized derivative products that utilize the native Tidal Finance token. This can include the creation of new index products such as a DeFi insurance index.
About Injective Protocol
Injective Protocol is the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized derivatives and borderless DeFi. Injective Protocol enables fully decentralized trading without any restrictions, allowing individuals to trade on any derivative market of their choosing. Injective Protocol is backed by a prominent group of stakeholders including Pantera Capital, one of the most renowned venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
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About Tidal Finance
Tidal Finance makes DeFi safer by providing insurance coverage for assets across chains in custom balanced liquidity pools. TIDAL is a Balancer-like insurance market built upon Polkadot that allows users to create custom insurance pools for one or more assets.
With Tidal, users can choose risk pools depending on their risk appetite, and filter it through a 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.
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