Unslashed Finance has raised more than $2 million for its crypto-insurance project since it was established last month. DeFi‘s insurance protocol is based on several sources on the funds generated for its most recent project — tokenized insurance goods.
The funds have been financed by an auction-like means. But the fact is that investors taking part in the funding sessions have not purchased any products is entirely different from an auction. Anchored by investors and Lemniscap, the funding round will support Unslash Finance, the crypto-insurance platform, in improving its new insurance services.
The product helps to bring together both the buyers and sellers of the platform. This makes it possible for the product to connect with investmenters who want to benefit from insurance services when a customer wants to buy insurance.
Unslashed financial management Insurance crypto comes with several advantages
There are many risks any user might face when it comes to making cryptocurrency transactions. But the risk of trading can be minimized with crypto-insurance. The insurance project will end the hacking of intelligent contracts, the slashing of validators, and many other risks not presented by many regular insurance companies.
In February, Unslahed Finance was launched, and insurance protocol has since exchanged insurance coverage worth $400 millions, receiving capital deposits of $90 million. Presently, the platform has a lot of clients using its insurance services including Enzyme ParaSwap, and a host of others.
In a recent interview with Cointelegraph, CEO Marouane Hajji of Unslashed Finance said that growth in the company was significant. He added that most people using cryptoassurance services from Unslashed Finance are protocols seeking protection, including exchanges for DeFi.