Tidal partners with Oasis Network to enable decentralised insurance


Integration with Tidal Finance is crucial to Oasis Network’s ambition of scaling its DeFi offerings
In a blog post released on Friday, the Oasis Foundation announced that the decentralized finance (DeFi) insurance and coverage provider Tidal Finance will be partnering with the Oasis Network, integrating its cross-chain insurance protocol on the platform to enable decentralised insurance.
The announcement explained that the move to collaborate with Tidal was crucial in enabling the sustainable scaling of the network’s DeFi offerings, and pointed out that Tidal Finance was chosen for its ability to provide insurance coverage for a variety of assets in custom liquidity pools.
It further added that the integration will go beyond just enhancing insurance capabilities.  By working with Oasis’ confidential smart contracts, Tidal stands to gain the ability to deploy new claims methods, including anonymous and democratised voting, and develop systems that can effectively preserve voter and user privacy.
“In short, their community could vote on whether a particular claim should be approved in a privacy-preserving manner,” the announcement summarized.
Similar initiatives to integrate or launch new insurance platforms have been seen recently in the Ethereum DeFi ecosystem as projects aim to embed coverage directly into their offerings at the protocol level. Unslashed Finance, a decentralised insurance protocol, was one of the projects who made significant progress as it announced that it had raised $2 million for its tokenized insurance product in March.
Oasis Network’s partnership with Tidal will allow users to transact over-leveraged covers and enable them to hedge against the failure of any DeFi protocol or asset.
With the network rapidly expanding, this collaboration with Tidal will only contribute to ensuring that investors can exploit the benefits of a new class of privacy-enabled financial vehicles while minimising their risk exposure.
“We are excited to work with Oasis to pioneer the next frontier of smart contract coverage,” said Tidal co-founder Chad Liu.
While Oasis has recently been involved in a number of initiatives focused on big data, data privacy,  decentralized finance, and combating crypto fraud, the partnership signifies a renewed strategy that targets the DeFi market in particular.
“[This] addition to the expanding list of DeFi partners building on the Oasis Network brings us one step closer to realizing our vision for a responsible data economy and privacy-enabled DeFi,” the blog stated. It confirmed the significance of the partnership by stating that multiple lending protocols and decentralised exchanges will be integrated into the Oasis Network in the coming months.
Keep updated with our round the clock and in-depth cryptocurrency news.
Unsub anytime
No SPAM ever!
After signing up, you may also receive occasional special offers from us via email. We will never sell or distribute your data to any third parties. View our privacy policy here.
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial compensation from these third parties. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services.
Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.
CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.
Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.
When trading in stocks your capital is at risk.
Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.


Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Post

Cosmos and Blockstack hackathons showcase the future of DeFi

Next Post

Robinhood launches a new cryptocurrency offering for its users

Related Posts