😇InsureDAO for Protocols
With InsureDAO, the protocol enjoys the following benefits:
Utilize their raised fund
Provide Insurance for their user, and
Covered by Bug Bounty
1. Utilize raised fund
Sometimes, it is difficult to chose how to utilize raised fund. If you raised stable coin from IDO, it's more difficult since you get eyes from community. It is huge waste of opportunity when you just hodl it in your multi-sig wallet, so you might want to figure out the way to utilize it with good reasoning.
In such case, utilizing fund for your protocol's security can be the best option.
InsureDAO allows protocols to earn revenue while making themselves more secure.
2. Provide Insurance to user
When you are born new, there must be missing opportunity of users due to the risk of contract bug. Hacking risk always lower the possibility of users get into your DeFi, and depositing larger allocation from his pocket. The more time passes, the greater the entry from the masses and the smaller the percentage of Degen. At this time, having a means of insurance will help increase their entry rate into your protocol.
3. Get Covered by Bug Bounty
By creating Insurance Pool in InsureDAO, you are also providing bug bounty for the white hats.
This feature is work in progress now.
You can check the recent announcement from InsureDAO about Bug Bounty feature
Last updated
