This article was first published on The Blueprint by Bluzelle - Medium
Welcoming Shield Finance to Bluzelle’s ecosystem to provide range of smart contract insurance solutions for strategic level DeFi security
We are pleased to announce a strategic partnership with Shield Finance to accelerate DeFi adoption and create a one-stop shop experience for DeFi users. Decentralized Insurance is one of the crucial aspects in the ever-changing DeFi landscape. As the nascent DeFi industry transitions to maturity, employing safe and secure insurance solutions is of utmost important to avoid unexpected risks.
Shield Finance is a multi-chain DeFi insurance aggregator solution that enables users to smart contract covers from underlying insurance players. It is the 1inch of the insurance market protecting users from market crashes, huge sell-offs, hacks, malicious threats and exploits.
Highlights of the Bluzelle-Shield Partnership
Under the purview of this partnership, both Bluzelle and Shield Finance will work towards accelerating the Web3 adoption by synergistically driving increased utility. Bluzelle will be providing its accurate and reliable price data feeds to Shield Finance’s Market Crash Protection Contracts. The price feeds from Bluzelle’s oracles will be instrumental in determining whether the crash occurred or not. The external price feeds will gauge the intensity of the crash and the extent of damage to chalk out the future course of action.
On the other hand, Shield Finance will be providing a seamless getaway for Bluzelle’s token to access its underlying insurance providers to drive increased security. Users can access various insurance protocols according to their needs and preferences with a single-click on the Shield Finance interface. This will immensely contribute to driving adoption as users will now be able to avoid unforeseen circumstances like in the past.
Denis Gorbachev, CEO of Shield Finance, on exploring the avenues of the partnership said,
“Our partnership with Bluzelle is an important step towards deploying our Market Crash Protection contracts. After all, the ...
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The Blueprint by Bluzelle - Medium