02/09/2021 INS3 Brings Decentralized Coverage to Polygon

We’ll Also Give Away 2,700 $ITF Per Day in Incentives for Early Users

It’s never been more important to have your decentralized assets insured against hacks and exploitations, as stories around high-profile attacks on major crypto platforms continue to roll out. As the young decentralized finance industry develops and continues to troubleshoot security flaws, your best bet is to protect yourself from these types of attacks.

At INS3 Insurance, we provide decentralized coverages on the Binance Smart Chain, HECO Chain, Conflux and OKExChain, and now we’re bringing our unique coverage options and staking rewards to Polygon!

With the most recent DeFi exploit of the Polychain Network where the white-hatted hacker eventually did return the funds, DeFi is facing an exploitation problem on the network which if kept un-checked, will slowly but surely drain the industry of all total value locked. At INS3, we are able to combat this by offering protection on volatile assets and rug pulls through their decentralized coverage provider, where the insurance is provided in a P2P method.

Users who stake assets on INS3 are rewarded in the platform’s native $ITF token, while the funds provided double as coverage for potential exploits and hacks. With an initial seed round of $2.4 million, we have the backing of some impressive industry giants including: Conflux, Web3.VC, OKex BlockDream Venture, Beagle Capital, and more.

To begin with, we will work closely with existing partners on the Polygon network who can use decentralized insurance as a bonus factor for its existing users. These partners will include but are not limited to WaultSwap, QuickSwap, ApeSwap, Sushi, AAVE and more. In addition, we will provide 2,700 $ITF per day in incentives for early users to stake accepted assets as the underlying liquidity provider for hacks, exploits and market volatility.

Gavin Fang, the Founder of INS3, says:

“By bringing INS3 to the Polygon network, we are plugging ourselves into one of the fastest growing ecosystems both in terms of projects being launched and in terms of users populating. We are excited to add a layer of protection and risk hedging for all Polygon users.”

As the world of DeFi continues to expand, so too should your coverage options and protection levels, which can allow you to trade, forecast and buy stocks on some of the most exciting crypto platforms out there.

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About INS3

INS3 provides full and partial coverages for high risk assets across multiple blockchain including Binance Smart Chain, OKexChain, Conflux and HECO. As a community driven, decentralized product, it carries unique features that ensure INS3 not only provides insurance on volatility, but also acts as a tail risk derivative platform for users to buy and sell secondary assets in the form of coverage.

Make sure you stay covered for the next market crash with INS3! Follow us on Twitter for the latest coverage news, or join our Discord to engage with our community!