Bridge Mutual, a decentralized platform that allows users to insure stablecoins, has announced that its native BMI token will be launched on Polkastarter tomorrow, January 30. The Polkadot’s decentralized exchange will host an Initial DEX Offering (IDO) for Bridge Mutual.
“Even the most sophisticated digital asset investors are at risk of losing their funds through various malicious and negligent activities in the blockchain ecosystem. With Bridge Mutual, we believe it doesn’t have to be this way. Using Bridge, people can control the risk exposure of their digital asset investments, just as they do with real-world assets. The Bridge Mutual platform allows people to offer and purchase coverage in a decentralized p2p way. We’re excited kickstart the launch of the BMI ecosystem with a launch on Polkastarter and creating a better way of protecting digital assets for users all over the globe,” Bridge Mutual CEO Mike Miglio said in a statement.
Bridge Mutual allows users to buy and sell insurance for smart contracts, stablecoins and crypto exchanges, peer-to-peer. Users can purchase insurance via the Bridge Mutual app and then file a claim if their digital assets are lost after a hack. “When users lock stablecoins in Bridge Mutual’s coverage pools, those funds are reinvested into popular (and safe) yield generating platforms that return yields to coverage providers. When a claim is approved, stablecoins from the coverage pool goes to the claimant. Platform users can provide coverage for pools with varying degrees of risk, according to their risk appetite. In return, providers receive risk to ratio yields derived from the reinvestment of funds in the coverage pools on decentralized lending platforms, profit sharing, and voting rewards which are given to those that vote on submitted claims,” the press release by Bridge Mutual says.
Besides smart contracts, Bridge Mutual allows to insure stablecoins, should there be a sudden price drop. Users then submit a claim using the Bridge Mutual app and each claim is settled almost instantly. Per Bridge Mutual, their system eliminates human manipulation. Additionally, claims that are not related to stablecoins, go through a multi-phase voting process. Bridge Mutual has partnered with reputable auditing firms to further reduce risks and has set many compliance protocols in place.
Over $200 million USD in digital assets were stolen during several high profile hacks last year, the announcement said. Bridge Mutual is the first company to offer a discretionary, p2p platform for insuring stablecoins.
Smart MFG Tech Announces its First Liquidity Mining Rewards Program on LINKSWAP
Manufacturing Industry 4.0 company Smart MFG Tech has announced that it is launching its MFG Liquidity Mining Rewards on LINKSWAP today. LINKSWAP is a decentralized, community-governed Decentralized Exchange (DEX) and an AMM platform, which was created by YF Link (YFL). The team at YF Link says it aims to address “the pain points of second-generation AMMs” by offering such features as Reduced Impermanent Loss, RugLock, SlipLock that are not offered by other platforms.
Smart MFG Tech has said that the first integration of the MFG liquidity mining rewards will use the LINKSWAP LP (Liquidity Provider) Rewards service. It will allow LPs to deposit their LP token(s) (UNI-V2) to the participating rewards pool (ETH|MFG) and earn MFG rewards seamlessly. Smart MFG said it will continue to work with the YF Link team to provide support for other pairs and expand services.
LINKSWAP’s Rewards is a liquidity mining service that enables LPs to earn rewards for providing liquidity in a participating pool. YF Link has implemented a custom frontend solution for Smart MFG LP rewards pool on LINKSWAP. This will allow LPs to add liquidity to Smart MFG’s existing ETH|MFG pool on UniSwap v2 and deposit their LP token(s) (UNI-V2) to their LINKSWAP rewards pool (ETH|MFG).
Smart MFG explained how the rewards can be earned:
“LPs get a share of the transaction fees on Uniswap v2. This is calculated by how much liquidity is provided relative to the percentage…
Building Your Nest Egg Brick By Brick: Are Micro-Investments Here to Stay?
No matter what our goals are, sometimes just getting started can be the most difficult part of building our savings up. When it comes to investing, many of us are wary of parting with our money to generate more financial security in the future. But what if you can build significant savings without even noticing?
That’s the aim of the micro-investing apps that have come to dominate online stores across Android and iOS. Today, more fintech startups are working on delivering refined solutions that encourage minuscule investments at a more frequent rate.
Micro-Investing apps will look to make saving more accessible to young people – many of whom in the UK have little-to-no money tucked away for a rainy day.
However, the prevalence of money-saving technology and the disruptive chaos of the COVID-19 pandemic appears to have prompted a widespread increase in households saving more of their disposable income:
With micro-investing platforms playing a role in bringing UK household savings back up to five-year highs, is it fair to say that little-by-little investing is here to stay? Let’s take a look at how micro-investment platforms could revolutionise how we manage our finances:
What is Micro-Investing
Micro-investing, or sparse change investing, is a relatively new development in fintech. It effectively enables users to put away small amounts of money towards their long, or short, term goals. The idea…
Smart MFG Tech Shares Updates with Community, Outlines New Initiatives for 2021
Smart MFG Tech, a manufacturing Industry 4.0 company, has shared an update with its online community. The update is focused around Q1 2021 goals and deliverables. The goals included in the update are centered around digital transformation and Smart MFG Tech’s long-term focus on the Industrial IoT and other leading innovative concepts.
Just last month the company relaunched the Smart MFG GUI site and integrated the MFG token on a number of exchanges, which include both centralized and decentralized kinds. The new initiatives include more active community decentralization, new alliances with both buyers and suppliers interested in streamlining the supply chain processes, as well as new liquidity partners, 3PL logistics providers, and much more.
Smart MFG has also included some use cases that provide effective supply chain DeFi offerings. MFG Supplier Incentive Reward Programs is one of the proposed solutions. It helps reward “time connecting supply chains with blockchain,” the company says. The company provides these rewards through MFG ERC20 tokens where parts suppliers are incentivized when submitting tender bids. Manufacturing blockchain company SyncFab is Smart MFG’s key partner; it has built a parts procurement and supply chain blockchain platform. All Smart MFG partnerships can be found here.