Discover the10x Low Cap Gem That’s Easier Than Ever Before to Invest In and Protect Your Crypto!

PolkaCover, a project that aims to provide crypto-friendly insurance, has launched its dApp beta allowing cryptocurrency users to compare multiple types of insurance products in one place. PolkaCover will provide coverage for risks such as exchange hacks and bankruptcies, wallet hacks, storage damage, phishing attacks, stop loss in volatile market drops, project bankruptcy, abandoned and fraudulent ICOs. The team plans to build global crypto insurance products to protect over 50 cryptocurrencies. The platform will provide several tokenized incentives, making it up to 40% cheaper than any traditional insurance channel. PolkaCover has made partnerships with Band Protocol and Umbrella Network for building its oracle and partnered with regulated insurance broker 971 Insurance to distribute policies to crypto users globally.

PolkaCover: The Next Big Thing in Crypto Insurance

Cryptocurrency has revolutionized the financial industry. Digital currencies have disrupted conventional banking systems, and decentralized finance (DeFi) is taking the world by storm. However, there’s one crucial problem with DeFi – there’s no insurance against hacks, flash market crashes or bankruptcies, leaving investors at risk of losing their investments. But a new project, PolkaCover, is here to change that.

What is PolkaCover?

Founded in late 2019, PolkaCover aims to create a world-leading crypto-friendly insurance purchase and policy issuance marketplace. It is a one-stop-shop for all personal and crypto insurance needs, offering protection for over 50 cryptocurrencies with coverage that includes exchange hack and bankruptcy, wallet hack, storage damage, phishing attacks, project bankruptcy, and abandoned and fraudulent ICOs. PolkaCover is not just limited to crypto insurance; it also offers health, life, education, and family insurance.

What are the Tokenomics of PolkaCover?

PolkaCover’s token is known as CVR. It has several use-cases, such as policy purchase, policy discounts, cross-border policy issuance, claims payout, referral fees, product reviews, survey forms, fast claims incentive, data sharing, P2P policy issuance/claims, and manual policy quotes. Token incentives are provided to insurance providers for quick TAT (turn-around-time) responses.

Who are the Leaders of PolkaCover?

Kunal Sadani leads the PolkaCover team. He has over 25 years of experience in the Middle East and has worked with several leading insurtech start-ups and multinational organizations such as AIG, Allianz, and PolicyBazaar. Anthony Thomas is the co-founder and CIO of PolkaCover, who has successfully created several regional backend system platforms, including leading insurance associations worldwide. The team is working with multinational insurance companies to provide crypto-insurance products.

What are PolkaCover’s Partnerships?

PolkaCover has partnered with Band Protocol and Umbrella Network for building its oracle on the backend for both protocols. For insurance, PolkaCover is partnered with 971 Insurance, and UnoRe is a reinsurance protocol for underwriting crypto-insurance products which are regulated by real-world insurance authorities. PolkaCover has pledged to provide protection to Phantasma, LABS Group and Orion Protocol against NFTs’ impermanent loss and exchange hacks for traders on their platform. Hacken, a world-class crypto audit firm, also audited PolkaCover’s smart contract code with a 100% success rate. To provide access for crypto users to use fiat currencies, they partnered with fiat on and on-ramp, Transak.

What are the Roadmap and Future plans of PolkaCover?

In Q3 2021, PolkaCover will release its marketplace alpha version, start doing crypto-insurance partner onboarding, and launch on the Binance Smart Chain, as well as Kusama and Polkadot later on. In 2022, PolkaCover’s P2P platform beta and governance platform launch are planned.

Conclusion

PolkaCover is a project that addresses the critical gap in DeFi- crypto-insurance. With a team of experienced leaders, partnerships with leading protocols and insurance providers, and a roadmap with exciting milestones, PolkaCover is a project to keep an eye on. As with any investment, it is crucial to do your research, but PolkaCover could be a great gem to add to your portfolio.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Is the Crypto World Turning its Back on Meme Coins?

Adyen is set to expand its offering of payment services to Canadian merchants. The Dutch payments firm has received authorisation from the Financial Transactions and Reports Analysis Centre of Canada (FinTRAC),...

Is This Growth Stock Severely Undervalued? Anticipating 1600% Revenue Growth in One Year!

In a YouTube video, Sam discusses CleanSpark (CLSK), a bitcoin mining company he believes to be underrated and undervalued compared to its peers. Despite lawsuits against CLSK, Sam is bullish on the company...

Plan Your Millionaire Strategy for Profit Taking Before the Next Bull Run!

In a video about cryptocurrency investing, the presenter emphasises the importance of taking profits and shares his own mistakes from 2021 where he did not take profits and lost out in the bill market....

OPNX Achieves $17M Despite Initial Weakness Due to Limited Liquidity.

OPNX, a bankruptcy claims exchange, has launched a new ERC-20 governance token called OX to incentivize trading of Celsius claims and other cryptocurrencies. The token offers trading fee discounts and...

Discover Hypermine - Your Ticket to Success in the Bear Market on Pulsechain!

HyperMine.club, a dynamic and community-driven ecosystem for the new PulseChain community, will be launched on PulseChain after its launch. Its native token has no pre-allocations and the management team...

Diamond BUSD: The Hot New Crypto Staking That Earns BUSD While You Sleep - Discover Proof and Results! 💰 🚀

Jim Crypto has posted a follow-up video to his Diamond B USD review, showing the progress made since his last video and discussing the cryptocurrency’s features. He highlights the smart contract’s...

Louvre Palace features 12 unique digital artists from around the world.

Proof of Talk, a Web3 summit, will be held at the Musee des Art Decoratifs in Paris on June 14 and 15, 2023. The summit aims to promote exchange between attendees and feature prominent voices in the Web3...

Attention XRP & Crypto Holders: This is a Must-See!

In this video, the host, Dusty, discusses the recent drama in the crypto world, including a debate between Craig Wright, the Bitcoin founder, and David Swartz, the CTO of Ripple. Dusty also mentions his...

"Could SUI Network Be The Next Game-Changer in the World of Altcoins?"

Suite Network is a new cryptocurrency project that has gained attention online and is currently trading at 1.34. The project is a layer 1 blockchain, meaning it competes with the likes of Bitcoin and Ethereum,...

Unraveling the Mystery: The Exact Number of HBAR to Achieve Millionaire Status!

A video by BitBoy Crypto explores how to become a millionaire through investing in HBAR tokens, which serve the Hedera project, a hashgraph that differs from the typical blockchain. Assuming HBAR will...
Load More

Comments

Comments

Coming Soon

Subscribe and be the first to know about the launch

Look at our roadmap

AND FOLLOW
Share
Twitter
Telegram
Facebook
LinkedIn
Reddit
Email

Thanks for subscribing

You will only receive important notifications
For now, follow to our social networks