Edgeware partners with Tidal Finance to bring insurance cover to EDG ecosystem.
Tidal Finance, the multi-asset protocol and market for programmable insurance and pools, is partnering with Edgeware to ensure that Edgeware users and developing projects have access to cover in a growing and increasingly interoperable defi ecosystem.
Tidal Finance, the multi-asset protocol and market for programmable insurance and pools, is partnering with Edgeware to ensure that Edgeware users and developing projects have access to cover in a growing and increasingly interoperable defi ecosystem.
Tidal Finance, the multi-asset protocol and market for programmable insurance and pools, is partnering with Edgewareto ensure that Edgeware users and developing projects have access to cover in a growing and increasingly interoperable defi ecosystem.
Tidal’s deployment will highlight their dual-security insurance model, which relies on two key stakeholders for liquidity provision: traditional liquidity providing users, and also the network’s unique on-chain treasury, to which Tidal plans to propose a funding agreement.
“Tidal’s insurance cover protocol can get liquidity from ecosystem users as well as a proposal to Edgeware’s on-chain treasury making it more resilient to flash loan-based attacks,” said Edgeware council member Dillon Chen.
Tidal’s deployment, one of the first of its’ kind in Edgeware, will make use of the cutting-edge EVM compatibility within the Substrate-based network, deploying over the next month in the Edgeware Tokyo milestone.
“Under this partnership, Edgeware will utilize the TIDAL model to help manage risk for their platform. Tidal will provide insurance cover for Edgeware’s users’ assets and help Edgeware’s insurance fund earn yield.”
Tidal founder Chad Liu on the partnership comments: “I am excited to work with Edgeware to offer mutual cover pools to increase their users’ confidence when transacting on the Edgeware platform,”
The partnership, Tidal says, is based on the high-performance standards of the network, as well as Edgeware’s pioneering of the Fair Launch concept- the token distribution mechanism called the ‘lockdrop’ that ensured more than 90% of all genesis EDG go to network participants, one of the highest gini coefficient distributions in cryptonetworks.