In the decentralized finance (DeFi) space, insurance provides a way to protect assets from risks like smart contract failures or protocol hacks. For someone new to this area, understanding the process of acquiring coverage involves several practical steps, from setting up tools to selecting specific policies. Common risks covered in DeFi insurance platforms include smart contract vulnerabilities, … Read more
Decentralized finance (DeFi) has transformed how individuals interact with financial systems, offering opportunities for lending, borrowing, and trading without intermediaries. However, the DeFi ecosystem carries risks such as smart contract vulnerabilities, hacks, and stablecoin depegging, which have led to over $2 billion losses in 2023 alone, according to on-chain data. DeFi insurance provides a safety … Read more
Decentralized Finance (DeFi) insurance refers to a blockchain-based insurance system that operates without the need for traditional intermediaries such as insurance companies or brokers. In DeFi insurance, smart contracts are used to automate claims and payouts, allowing users to protect their digital assets in a decentralized manner. This innovative approach aims to bring more transparency, … Read more