• December 5, 2023


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NEAR Protocol Provides Development Grant to InsurAce․io

ByLouis Adams

Feb 14, 2022
Reading time: 2 minutes

InsurAce.io has announced that its proposal for a NEAR protocol development grant has now been granted, and that its deployment on NEAR shall take place very soon.

InsurAce.io is constantly on the search for new ecosystems and technologies. They have stated that new procedures and protocols will be implemented ever since the initial incorporation. Needless to say, this is a significant step toward achieving that goal, and the team is therefore excited to be developing their product on the NEAR protocol as previously mentioned.

Key details

Both NEAR and InsurAce.io envision a society in which individuals have sovereignty of their money, data, and the instruments needed to create innovative concepts and ideas. NEAR is a sharded, layer-1, PoS (Proof-of-Stake) blockchain which is easy to use, safe, and highly scalable.

Moreover, NEAR Protocol is built with both EVM (Ethereum Virtual Machine) and Rust, and the InsurAce team is thrilled that their funding lets them develop on both networks. To learn more about the NEAR protocol from a developer’s viewpoint, visit their Github page and download the most recent updates and code.

The NGP (Near Grants Program) has been in operation for a year. The ecosystem revealed a $250 million investment in several DeFi initiatives which they believe would greatly benefit their system and community. They are pleased to be working to develop the NEAR protocol because they believe it will help millions of people redefine commerce, creativity, and community for a much more inclusive future. Additional details and regular updates are expected throughout 2022.

About InsurAce

InsurAce.io may best be understood as a decentralized multi-chain insurance protocol designed to strengthen the DeFi community’s risk protection infrastructure. InsurAce.io therefore offers portfolio-based insurance products with optimised pricing models to significantly reduce costs in addition to launching insurance investment functions that contain flexible underwriting mining programmes to generate long-term returns for participants. Finally, they also provide coverage for various cross-chain decentralized finance projects so as to benefit the entire ecosystem.

InsurAce.io was founded less than a year ago with the overall objective of providing insurance solutions and protection against numerous potential exploitations in the DeFi industry. One of the team’s key priorities has thus always been to become completely multi-chain as part of their drive to continuous growth, enhancing community experience, and providing the best possible service.

To that end, over 100 protocols have been protected thus far, and over 42.7 million TVL has been achieved with 238.4 million in total value covered along with 16 chains also receiving coverage.In terms of future goals, the InsurAce team shall be focusing on V2 and updating their branding, tokenomics, underwriting, establishing a well-thought out strategic PR campaign, and much more as per their roadmap.

For more information, visit the official website as well as the TelegramTwitter and Discord channels.