In Uno Re’s effort to bring safety to the broader crypto community, the protocol has recently announced that their long-term strategic partner, Nord Finance, has increased its coverage from $500,000 to $1,500,000.
This decision was taken to further enhance the safety of the protocol and the users on the platform against any unpredictable vulnerabilities. The coverage plan currently provides a customized Protocol Cover for Nord Finance’ single-sided staking pool, USDC, USDT and DAI staking pool on the Ethereum Network!
Nord Finance will now receive insurance coverage over their entire protocol on a pro-rata basis with Uno Re.
This adjustment will be effective from 29th November 2021
Uno Re is the world’s first decentralized insurance and reinsurance platform, allowing the community to invest and trade in ‘risk’ and receive sizable returns on their investments in one of the safest asset classes in the world. The platform will break barriers to entry for the retail investor by doing away with the historic pre-requisite of absurdly high capital generally needed to invest in the market while also introducing much-needed transparency into the industry as a whole. Uno Re will also allow the community to propose innovative insurance products to the space, thus propelling a new generation of Insurtech companies powered by the Uno Re ecosystem.