INTRODUCTION
Just like the traditional insurance that is always there to protect the interest and secure the investment and funds of her clients or customers,likewise Bridge Mutual is too. For the past months, series of hacks has been recorded on the blockchain domain which cannot not be overemphasized. To some extent in the centralized finance system it is difficult to entrust your asset under the watch of the controlled system for fear of the unknown which can be likened to be incompetent handling of assets by the such organisation for which such asset has been handed over to. However, it is said that cryptocurrencies exchanges and some blockchain platform is very difficult to manipulate, hack or penetrate, but yet, some of the blockchain platform and exchangers still suffer huge attacks and hack which has caused so much loss and this sends wrong signal to the blockchain community and potential investors whom are willing and ready to invest in the blockchain platform which would help boosten the crypto market and the blockchain domain at large with a good projecting image. However, the revers is the case as many of the exchange and blockchain platforms still get attacked without any means of compensation or insurance cover. With this kind of occurrence, hence Bridge Mutual comes into play which serves as a rescue means in terms of uncertainty to the affected exchangers and blockchain platforms. I know you would be wondering how this works but just wait and see as it goes and i believe you would agree with me that Bridge Mutual is out and ready to rescue the blockchain domain which would be for every blockchain and exchange platform. This would be very good and welcoming as it would encourage more crypto currencies and digital asset exchangers to operate without any fear.
WHAT IS BRIDGE MUTUAL
Bridge Mutual proffer insurance cover to potential crypto currency holders, operators, owners, exchangers, blockchain platforms etc. Its goal is to give institutional crypto investors a trusted means of offsetting their investment risks by issuing discretionary insurance against exchange hacks, smart contract attacks, and stablecoin crashes. When there are challenges for Smart contracts, stable coins and other crypto products that are susceptible to hackers & failures, making it difficult for institutions to enter the market, Bridge Mutual provides the most transparent and efficient p2p coverage platform, allowing anyone to reliably insure smart contracts, stable coins, and more.
HOW THE BRIDGE MUTUAL CO-FUNCTION
Now this answers your silent question which i believe you have been asking right inside of you. The funds used to insure Bridge Mutual’s policy holders come from stakers who are able to select the stablecoin, exchange, or smart contract that they want to insure. After funds are locked in, they enjoy passive income from investment yields and profit sharing in the system. However, the process for purchasing insurance through Bridge Mutual is just as simple as stake holding. All what holders and users have to do is select the stablecoin, exchange, or smart contract they want to insure. The protocol automatically calculates a premium based on the coverage requested by the user, and the user pays via their wallet. Once paid, the user becomes a policy holder and is able to easily make a claim on the Bridge website.
"The Bridge Mutual API constantly scrapes and analyzes price feeds of stablecoins so that the claims process for stablecoin crashes can be settled automatically and instantly. Any smart contract or exchange claims are then processed through a nuanced, three-phase voting system. In a nutshell, this means that claims are voted on by the community and there are incentives and penalties in place to assure that every claim is adjudicated with high accuracy"
However, Bridge Mutual in a nutshell is otherwise seen as follows;
- It is built on the Polkadot network.Users lock and stake BMI to provide insurance coverage for smart contracts, stablecoins and exchangesstakers split profit and yields as a reward.
- Purchase coverage using BMI, DOT, ETH and USDT.
- Yields are paid to stakers and produced by using a portion of the coverage pools to invest across lending platforms, such as Aave, Curve, Kyber, and Akropolis.
- Yields earned in BMI are unlocked and claimable immediately.
- Price of coverage is determined by a Dynamic Pricing Model based on multiple risk factors.
- Coverage holders can place detailed claims easily on the Bridge App.
- 3-phase crowd voting mechanism to ensure every claim is adjudicated properly.
- Stablecoin claims are paid instantly and automatically (no voting) if coverage conditions are met.
- Popular projects undergo audits from well-known auditing firms, paid for by Bridge and made available to the public.
- BMI tokens can be used to govern Bridge.
BRIDGE MUTUAL FLOW CHART
- When users buy insurance, the premium is converted to BMI and distributed: 70% is burned; 20% is given to stakers; 10% is locked to pay voters in the event of a claim.
- BMI holders can lock and stake their BMI in coverage pools for specific assets in exchange for profit sharing and yields.
- Newer assets are considered high -risk, and require $1 in their pool for every $1 of coverage being purchased.
TOKENOMICS AND ROADMAP
Token Ticker Symbol: BMI
TOTAL: 160,000,000
Token Sale: 8.65% of Token Quantity (13,840,000 BMI)
Price Per Token: $0.125 Per Token
Total Raised: $1,610,000 USD
Total Sold: 13,840,000 BMI
ROADMAP
For further information about The Bridge Mutual activities and to get in contact with the team and management, you can reachout to the through the below details;
AUTHORS BTT NAME: cruizmaster
BTT PROFILE LINK: https://
