The DeFi sector is booming right now as more and more tokens and lending platforms are being launched. However, the influx of so much money and investment means is also resulting in increasing numbers of fraud and “rugpulls” for investors. Unfortunately, there is no insurance company available to leverage the incredible risk on DeFi investment. SuperSafe aims to change that with its innovative approach to cater for the needs of the DeFi space.
Supersafe believes that before you embark with your crypto to the moon, be sure that your spaceship is insured. Based on the Binance Smart Chain protocol, the SuperSafe approach is different than conventional insurance companies. Many of these companies in the sector are over-leveraged and they are therefore motivated to avoid paying as many claims as possible. So, insurers offer little for a lot of money. They are also heavily driven by risk-based analytical models. Because of the risk associated in the DeFi/Crypto space, they might never venture this far out of their comfort zone at all in the near future.
SuperSafe aims to offer a set of different insurance packages to investors around the world. Its primary purpose is to save investors and traders from the scams currently populating the growing DeFi sector. While investors do need to continue to be more careful regarding their investments, SuperSafe aims to bring a peace of mind so that they can invest and take appropriate risks without worrying too much about losing their money to scams, etc.
There are two types of capital pools in place at SuperSafe insurance. The first is an initial capital pool that helps reimburse initial reimbursements. The second is the treasury pool that will become operational once users start to hold their SSF tokens in their wallets and basically insure themselves.
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