LI.FI And InsurAce Launch Bridge Insurance On Jumper.Exchange For Cross-Chain Transactions
On April 18th, it was announced that cross chain transaction aggregator LI.FI announced a partnership with DeFi insurance agreement InsurAce to launch Bridge Insurance. Bridge Insu
On April 18th, it was announced that cross chain transaction aggregator LI.FI announced a partnership with DeFi insurance agreement InsurAce to launch Bridge Insurance. Bridge Insurance has been launched on Jumper.Exchange, with bridge insurance fees typically ranging from 0.1 to 0.5%.
LI.FI collaborates with DeFi Insurance Agreement InsurAce to launch bridge insurance products
Are you tired of the risks involved in cross-chain transactions? LI.FI and InsurAce have partnered to bring you Bridge Insurance, a DeFi insurance agreement that protects you from losses when transacting across different blockchain networks. The service is now available on Jumper.Exchange, offering affordable bridge insurance fees ranging from 0.1% to 0.5%. In this article, we will take a closer look at the partnership between LI.FI and InsurAce, how Bridge Insurance works, and what benefits it offers to cross-chain traders.
Overview of the Partnership
The partnership between LI.FI and InsurAce is a major step towards eliminating the risks involved in cross-chain transactions. LI.FI is a cross-chain transaction aggregator that allows users to swap tokens across different networks using a single interface. On the other hand, InsurAce is a decentralized insurance protocol that provides coverage for various risks in the DeFi space. By combining their expertise, LI.FI and InsurAce have launched Bridge Insurance, a unique insurance agreement that covers cross-chain transactions.
How Bridge Insurance Works
Bridge Insurance is a smart contract-based insurance agreement that offers coverage for losses incurred during cross-chain token swaps. When you use LI.FI to transact across different networks, you can opt to purchase Bridge Insurance for a small fee. If something goes wrong during the transaction, such as a failed swap or loss of funds, Bridge Insurance will reimburse you for the losses.
Bridge Insurance offers flexible coverage options and affordable fees, making it an attractive choice for cross-chain traders. The insurance fees typically range from 0.1% to 0.5%, depending on the transaction value and the level of coverage required. The coverage period starts from the moment of purchase and ends when the transaction is completed.
Benefits of Bridge Insurance
Bridge Insurance offers several benefits to cross-chain traders. Firstly, it provides protection against the risks involved in cross-chain transactions, such as token loss or failed swaps. This gives traders peace of mind and enables them to transact across different networks with confidence.
Secondly, Bridge Insurance is affordable and flexible, with fees ranging from 0.1% to 0.5%. This makes it accessible to traders of all levels, regardless of their transaction size. Additionally, the coverage period starts from the moment of purchase, ensuring that traders are protected throughout the entire transaction process.
Conclusion
LI.FI and InsurAce have collaborated to launch Bridge Insurance, a DeFi insurance agreement that provides coverage for cross-chain transactions. With affordable fees and flexible coverage options, Bridge Insurance offers protection and peace of mind to cross-chain traders. If you are a cross-chain trader, consider purchasing Bridge Insurance the next time you use LI.FI to conduct a transaction. It could be the best decision you will make!
FAQs
1. What is LI.FI?
LI.FI is a cross-chain transaction aggregator that allows users to swap tokens across different networks using a single interface.
2. What is InsurAce?
InsurAce is a decentralized insurance protocol that provides coverage for various risks in the DeFi space.
3. What are the fees for Bridge Insurance?
Bridge Insurance fees typically range from 0.1% to 0.5% depending on the transaction value and level of coverage required.
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