- InsurAce.io confirms NEAR protocol has approved its application for a development grant.
- InsurAce.io will now work to develop its product on the NEAR protocol.
- Both have a vision of experiencing a world where people control their money, data, and more.
Decentralized multi-chain insurance protocol, InsurAce.io announces its application for a development grant from NEAR protocol has been approved. This confirms that their deployment on NEAR is coming in due course.
Launched 9 months ago, InsurAce.io has been steadily working towards going fully multi-chain, improving its community experience, and offering the greatest service. Hence, its application for a development grant from the NEAR foundation.
Oliver Xie, Founder of InsurAce.io, reveals how excited he is about the development grant approval. He promises more announcements throughout the year as the team begins to develop and build on the NEAR ecosystem.
We were thrilled to receive the good news from NEAR protocol that we would be receiving their development grant to allow our team to develop a variety of products across their ecosystem. We believe very strongly in the benefits that the NEAR ecosystem’s technology provides and we’re delighted to get started on creating a better and more inclusive future for all. We are still in discussions to expand across other networks and this is a strong foundation for our ambitious future.
NEAR and InsurAce.io aspire to create a world where people control their money, data, and the tools to build fresh ideas and concepts. InsurAce.io says it is pleased to be a part of an ecosystem that is empowering millions of people to reimagine business, creativity, and community for a much more inclusive future.
Since NEAR protocol is both EVM (Ethereum Virtual Machine) and Rust-based, InsurAce.io will work on both networks. In addition, the NGP (Near Grants Program) has been in operation for a year. The ecosystem announced a $250 million investment in several DeFi projects that they believe will benefit their community and system.
At the time of writing, InsurAce.io had covered over 106 protocols and protected over $230 million in DeFi assets across 16 public chains. DeFiance Capital, Parafi Capital, Alameda Research, Hashkey Group, Huobi DeFi Labs, Hashed, IOSG, Signum Capital, LongHash Ventures, and a dozen more leading funds have invested in InsurAce.io.
Accordingly, InsurAce.io is a decentralized multi-chain insurance protocol that aims to empower the DeFi community’s risk protection infrastructure. InsurAce.io provides portfolio-based insurance products with optimized pricing models to significantly reduce costs.
Similarly, it launches insurance investment functions with flexible underwriting mining programs to generate long-term returns for participants and covers cross-chain DeFi projects to benefit the entire ecosystem.