BRIDGE Decentralized Insurance

in bmi •  4 years ago 

Introduction

Bridge Mutual is a decentralized insurance provider that has embarked on its first ever offering of insurance coverage in one of the fastest growing digital asset markets: stablecoins. Bridge Mutual is based on a decentralized and discretionary insurance application that allows users to insure each other and get reimbursed in the event of a market crash or attack. Stablecoins are not always stable. They are also prone to damage and potentially useless. On October 15 2018, Tether, the stablecoin that dominates the market came under attack, broke the Tether peg to USD, dropping its value by 7%.


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About Bridge Mutual

Bridge Mutual provides a decentralized, scalable and comprehensive smart contract system to ensure smart contracts, stablecoins, centralized exchanges and other crypto and DeFi products. It offers a transparent, auditable and on-chain investment strategy to return returns and profit sharing to its users and does not require KYC or personally identifiable information.


What is Bridge Mutual?

Bridge Mutual is a blockchain-based, decentralized, discretionary insurance platform. The platform allows users to provide or purchase coverage that protects against smart contract failure, stablecoin crashes, exchange attacks and other products.

Bridge operates autonomously through a set of smart contracts deployed on the Polkadot network, meaning no human intervention or actions are necessary for the platform to function. Bridge’s code is entirely transparent and posted publicly on GitHub, so anyone can audit and verify our work.

  • The platform’s ecosystem is powered by its tokens, “BMI”, which are used to purchase insurance, provide coverage, earn yields, share in profit, vote, and govern the platform.

  • Bridge is a decentralized, discretionary insurance platform protecting smart contracts, stable coins, centralized exchanges, and more.


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Problem

Smart contracts, stable coins and other crypto products are susceptible to hackers & failures, making it difficult for institutions to enter the market.


Solution

Bridge provides the most transparent and efficient p2p coverage platform, allowing anyone to reliably insure smart contracts, stable coins, and more.


Why was Bridge Mutual Built?

As cryptocurrency becomes mainstream, individuals and institutions need assurances that their investment of value into this new technology are protected.

Smart contracts are susceptible to hackers (e.g., the DAO hack), exchanges are vulnerable to attacks (KuCoin), and stablecoins can crash (e.g., the NuBits crash, DAI liquidity crisis). In order to increase adoption of cryptocurrencies on an institutional scale, confidence in these systems needs to be increased. Bridge solves this problem in a way that is economically viable long-term, transparent, profitable, decentralized, and scalable.

In addition, Bridge has the potential to be disruptive to the traditional insurance industry. Today’s mainstream insurance model hasn’t taken advantage of the advancement of technology and is ripe for disruption. Instead of continuing with the litigious, opaque, adversarial and bloated model of traditional insurance, Bridge intends to revolutionize insurance by making the process fair, transparent, neutral and efficient using blockchain technology.


Bridge Covers

  1. Smart Contracts : Secure against faulty code, bugs, hacks, and protect against permanent loss.
  2. Centralized Exchanges : Coverage to protect against exchange hacks and attacks.
  3. Stable Coins : Insure against Stable Coin failure for USDT, DAI, TUSD and others.
  4. Future Products : New products including support for transaction fees, staking, and farming.


The Bridge Advantage

  • No KYC Required
  • Cost Efficient Average
  • Automated Claims
  • Fast Settlement
  • Small 10% Founder Pool


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Token Utility

  • DAO Voting Eligibility
  • Access to coverage
  • Yields from investments
  • Premium profit sharing
  • Vote on claims and earn


Token Metrics

  • Token Ticker: $BMI
  • Token Supply: 160,000,000
  • Initial M/Cap: $500,000
  • Sale Price: $0.125
  • Vesting: 25% per Month


Token Economics

  • 8%: Sales
  • 41%: Liquidity
  • 16%: Operations
  • 6%: Vault
  • 17%: Team
  • 4%: Community
  • 9%: Protection


TEAM


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Backers And Partners


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ACCURATE INFORMATION


AUTHOR

bmi defi decentralized insurance insuretech stablecoins dao
4 years ago by

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