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What is PolkaInsure Finance?

A new peer-to-peer insurance marketplace is being developed within the Polkadot ecosystem, entirely managed by participants in decentralized finance (DeFi). As users join this marketplace, they will be awarded the PIS governance token, which plays a crucial role in the platform's operations. In this groundbreaking model, anyone can apply for insurance while others have the option to provide coverage. The intention is to migrate Polkainsure to a specialized Polkadot parachain once product development is finalized. For now, the PIS token is issued on Ethereum to cater to high trading activity. Users can secure coverage via PolkaInsure without the need for KYC verification, thus promoting wider accessibility. All smart contracts related to PolkaInsure will undergo meticulous audits and will be deployed and verified on the Polkadot blockchain, ensuring their dependability. The claims process is driven by smart contract code, enabling instant payouts and confirming that all insurance agreements are fully collateralized. The platform will integrate seamlessly with assets like DOT and ERC-20 tokens, as well as crucial infrastructure services including Chainlink and TheGraph. We have recently introduced our products on the Moonbeam testnet, which operates as the smart contract parachain within the Polkadot Network, marking a pivotal achievement as we launch Shield Mining in this ecosystem. This initiative is expected to significantly alter the landscape of how insurance is conducted within the realm of decentralized finance, paving the way for unprecedented innovations. As we progress, we aim to enhance user experience and trust in DeFi insurance solutions.

What is Bright Union?

Founded in February 2021, Bright Union set out to improve risk markets within the decentralized finance (DeFi) sector. Our diverse team is made up of experts in cryptocurrency, technology, and insurance, all dedicated to weaving web3.0 into the fabric of the insurance industry. We strive to harmonize the availability and need for crypto coverage while promoting efficient and transparent transactions across various decentralized risk platforms. Since we started, we have launched a variety of risk products designed specifically for crypto assets. Currently, smart contract insurance protects crypto holders against potential vulnerabilities in code, enhancing security. The transparent nature of blockchain technology also empowers community members to provide risk coverage, moving beyond conventional insurance models. The swift expansion of various entities offering these complex and innovative products presents a substantial opportunity for a centralized platform to efficiently match supply with demand. Serving as an aggregator, Bright Union is set to offer structured products that improve investment diversification and unveil new paths for the protection of crypto assets. This forward-thinking strategy not only aids individual investors but also plays a vital role in the overall advancement of the DeFi ecosystem, promoting broader participation and trust in decentralized finance. In this rapidly evolving landscape, Bright Union is committed to staying at the forefront of innovation and ensuring the sustainability of risk management solutions in the DeFi space.

Media

Media

Integrations Supported

Ethereum
MetaMask
Telegram
WalletConnect
Chainlink
Polkadot
Polygon (Matic)

Integrations Supported

Ethereum
MetaMask
Telegram
WalletConnect
Chainlink
Polkadot
Polygon (Matic)

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

PolkaInsure

Date Founded

2020

Company Website

polkainsure.finance/

Company Facts

Organization Name

Bright Union

Date Founded

2021

Company Location

Netherlands

Company Website

brightunion.io/index.html

Categories and Features

Categories and Features

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