Uno Re and Paycer Explore Partnership Opportunities
It excites us to explore the vast DeFi space to discover platforms that share our passion to work toward DeFi’s mainstream adoption. This is why we are delighted to start exchanging ideas and exploring each other’s offerings with Paycer- a bridge protocol to connect traditional and decentralized finance to support the mass-market adoption of DeFi.
The Paycer team is developing a bridge protocol that aggregates DeFi and crypto services cross-chain and combines them with TradFi to create new user-friendly financial products and services available on an easy-to-use platform.
Uno Re x Paycer
We are constantly expanding our partner ecosystem by joining forces with innovation-driven protocols that have goals that align with ours. This way, we hope to grow together with our partners by introducing our users to new projects and expanding our and our partner’s user base.
Employing a constructive approach to offer a better alternative to TradFi’s low-interest rates, Paycer aims to disrupt the low-interest rate banking sector with DeFi-based financial services that offer high-interest rates.
The Paycer platform brings TradFi’s user experience and DeFi’s yield generating advantages together by combining its protocol with traditional financial services like a bank account and a debit card. Users only need to make a fiat money deposit on the Paycer platform to get started without interacting with cryptocurrencies or DeFi. Paycer promises to automatically place the deposit in selected DeFi products, providing a high and constant interest rate as a passive income.
One of the biggest challenges standing between DeFi and a wider user base is its lack of user-friendly design. Most crypto-native users can easily pick up the mechanisms and underlying metrics of various protocols, meanwhile, users that are accustomed to traditional finance products often shy away from using DeFi products due to poor UX and UI design and lack of accessible information.
Paycer’s solution tackles this problem by helping inexperienced users to reap the benefits of DeFi without getting lost in DeFi terminology.
Poor UX and UI are one problem DeFi space must solve, smart contract exploits and hacker attacks are another. This is where Uno Re steps up. In the first quarter of 2022 alone, DeFi hacks have led to a total loss of $1.2 billion. DeFi insurance is a must for any user regardless of their experience.
To further support their efforts and provide their users with a safer experience, we will list Paycer on our Cover Portal where users can insure their assets on Paycer in a few simple steps.
On top of that, Paycer will insure investments made on behalf of its users through Uno Re’s Cover Portal. This means all Paycer users will automatically get insurance coverage for their newly acquired assets.
“We are excited to explore the Parcel platform and introduce it to our community. Parcel users will also have the option to insure their assets via our Cover Portal. This mutually beneficial collaboration will elevate the experience of both platforms’ users.”
— Jaskanwar Singh, CEO and Co-founder of Uno Re
About Paycer
Paycer’s goal is to aggregate DeFi investments multi-chain and make them available to users without the need for their own wallet nor the expertise. This should allow anyone to generate a passive income in a world where banks no longer pay interest. Hence the Paycer team is developing a bridge protocol for DeFi and TradFi to combine the best of both worlds and make it available for retail clients #CeDeFi. Apart from the technical matters and the creation of a super easy to use final product. The goal is also to create a regulatory framework that allows the legal operation of a DeFi platform within the EU first and subsequently in other regions.
Currently, a DeFi platform is already available on paycer.finance on which Paycer tokens PCR can be claimed and staked. More features will go live soon. Paycer is at the moment on Polygon but other blockchains will be integrated in the near future. Paycer is also working on a banking partnership to be able to combine DeFi with a traditional bank account. In addition to the development of the DeFi platform, the development of the final consumer product is also in progress.
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About Uno Re
Uno Re is the world’s first decentralised insurance and reinsurance platform, 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. Uno Re will also allow the community to propose innovative insurance products to the space, thus propelling a new generation of Insurtech companies powered by the Uno Re ecosystem.
