Uno Re announces partnership with Covalent
The Uno Re team is pleased to announce our partnership with Covalent, a one-stop-shop for data transmission between multiple chains.
What is Covalent?
Blockchain and Defi are proliferating and changing the world, but whilst blockchain data appears public, a lot of this historical information that is needed to build applications with real-world use cases still remains inaccessible to most protocols operating on a single chain.
Covalent provides a unique and unified API to ensure utmost transparency and visibility across all blockchain networks like Ethereum, Binance Smart Chain, Polygon, and more; this innovative tech essentially allows DApps running on one specific chain to access data from multiple chains.
What is an API?
API, an acronym for Application Programming Interface, enables two or more software products to communicate with each other, i.e. exchange data with each other in order to utilize this information for the betterment of the services provided to their end-users.
Covalent is the only multi-chain API that provides easy access to robust data infrastructures that are available on-chain; this data transmission is made effortless as blockchain data can be accessed through their no-code solutions.
Intent of the Partnership
We look forward to making use of this rich blockchain data — with the enterprise-grade Covalent API as well as the Class A & Class B endpoints. Users can access real-time and granular blockchain data across dozens of sources, including nodes, chains, and data feeds.
As a part of this integration, Uno Re will offer many handy features for the community:
- We will leverage Covalent’s APIs for our dApp — this will enable our users to track their crypto portfolios, token holdings, and purchase insurance cover across multiple chains.
- This will additionally aid in keeping track of insurance and reinsurance policies purchased by users across various chains like BSC, Matic, Ethereum, etc.
- Furthermore, our risk investors will now be able to keep track of their reinsurance pool investments across multiple chains by fetching real-time data using Covalent’s class A and class B API endpoints.
With the use of Covalent’s advanced API solutions, Uno Re users will have access to various cross-chain functionalities on the DApps on the platform and will ultimately be able to enjoy a much more holistic and connected user experience.
About Uno Re
Uno Re will be 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. 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.
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About Covalent
Covalent provides a unified API to bring full transparency and visibility to assets across all blockchain networks. Covalent’s proprietary technology enables a “no-code” solution that solves a vast array of use-cases for wallets, exchanges, custodians and taxation amongst others. The API allows easy access to data that is normalized, unified and granular.
