Decentralized Finance has shown tremendous growth — at least among crypto users. Decentralized Insurance will be next — a still smaller, but increasingly important area. We are thrilled to announce our partnership with Uno.Reinsure!
Both teams will work closely together to push (Re-)Insurance with an interoperability focus.
What is Uno Re?
Uno Re, the world’s first decentralized reinsurance platform powered by Polkadot, allowing the community to invest and trade in ‘risk’ and receive sizable returns on their investments in one of the safest asset classes in the world. The platform will break barriers to entry for the retail investor by doing away with the historic pre-requisite of absurdly high capital generally needed to invest into the market while also introducing much-needed transparency into the industry as a whole. UnoRe will also allow the community to propose innovative insurance products to the space, thus propelling a new generation of Insurtech companies powered by the UnoRe ecosystem.
Uno Re x Tixl
Use of Tixl’s Cross-Chain Bridge
We already announced that UnoRe and its UNO token will get whitelisted in Tixl’s Cross-Chain Bridge. Tixl helped and helps UnoRe to go interoperable, in a first step opening up the world of Binance Smart Chain (and soon more networks) for UnoRe.
Insurance in Tixl’s Cross-Chain Bridge or other Tixl products
For a future version of the Tixl Cross-Chain Bridge or other Tixl products, it might be beneficial to offer bridge users the option to get an insurance — both for the bridging transaction or liquidity provisioning.
UnoRe Insurance Products on Tixl’s Autobahn Network
Building the Uno Re Ecosystem, UnoRe concluded that Tixl’s Autobahn Network, once the Smart Contracts are ready, could be an ideal platform to be added to Uno Re’s existing infrastructure.
Independent on what is being insured, interoperability will be key as different insurance products might favor different blockchains — and both teams know and believe that there won’t be just one blockchain in the future. Being not only a layer 1, but also a layer 2 for all connected networks, Tixl’s Autobahn Network is ideal to get to the desired interoperability.
In addition, any tokenized insurance wants to be transferred instantly and without substantial fees — two other characteristics of Tixl’s Autobahn Network.
Other Areas of Partnership
We are perfectly positioned to share knowledge, networks, and anything else we may need to help both projects achieve their goals.
Sujith Sizon, Co-Founder of UnoRe, concluded:
“Tixl’s Autobahn Network is actually not only good for DeFi, but also Decentralized Insurance. That could be a very fruitful, game-changing partnership for the world of insurance.”
Christian Eichinger, Co-Founder of Tixl, commented:
“We’ve built the Autobahn Network to be suitable for any kind of transaction or data transfer. Getting into insurance now with Uno Re as a leading project in that industry, we are excited that we can showcase that already.”
We are looking forward to working closely with UnoRe with all benefits it will bring for both projects.