Tidal Finance have made an important collaboration with OxPolygon to increase the safety of its ecosystem projects.  The collaboration is expected to create an incentive program to attract more coverage providers and safeguard the insurance policy.

Supply and demand has been a challenging issue for DeFi Insurance providers, as offering affordable insurance prevents coverage providers from generating a high yield.

Polygon, a thriving ecosystem, is another leading example in solving this challenge in DeFi insurance. With additional MATIC tokens as part of the rewards, coverage providers will be able to sustain high earnings while taking the risk backing up projects in the ecosystem.

This collaboration is aimed to increase safety measures for top quality Polygon projects through Tidal Insurance.

For clarity, As DeFi becomes mainstream, individuals and institutions need assurances that their investment of value into these new protocols are protected. As any new technology, smart contracts are susceptible to hacks and manipulations. In order to increase adoption of DeFi instruments, confidence in these protocols must be increased. Tidal solves this problem in a way that is economically attractive to users of DeFi protocols, transparent, profitable, decentralized, and scalable.

Tidal Finance has been doing a great job in solving the supply and demand problem in insurance. It helps earn higher yields while securing and insuring the DeFi and blockchain economy.

Tidal Finance is a project to establish a decentralized insurance marketplace in DeFi space to connect insurance sellers and buyers to cover smart contract hacks risk. Tidal offers the functionality to create custom insurance pools for one or more protocols. The main objective of the platform is to maximize capital efficiency and return to attract reserve providers, while offering competitive insurance premiums to attract buyers.

Users will be able to participate on Tidal platform in the form of 4 roles:  Reserve provider: Provide USDC as insurance collateral to earn premium.  Cover buyer:  Pay premium fee to get their TVL covered. Guarantor: Token holders of the protocols in the mutual cover pool can stake their token as collateral to earn premium.  TIDAL staker: Stake TIDAL token as collateral to earn premium.

Nobody on the Tidal team has the ability to control your funds. There is a delay before you can withdraw your funds, to make sure any claim filed for the pool you are providing capital to can be covered.

Community response:  People are quickly beginning to wake up to how powerful OxPolygon is and how cheap the gas prices are! I love seeing polygon grow, not just as an investor, but as a developer.