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Title: Steady State is a fresh breeze in the insurance section - Thoughts? Post by: jillscarbrough on November 13, 2021, 09:15:45 AM SECURING THE FUTURE OF FINANCE
Steady State is on a mission to strengthen DeFi through a revolutionary, data-driven insurance product governed by smart contracts - Taken from the Steady State's subReddit page. Sounds cool! DeFi has become a strong magnet that has invited tons of new investors to dive into the crypto space in the last two years. As per today DefiLlama's data, DeFi TVL reached $262.7b - So impressive! https://i.imgur.com/ORkECqF.png Source: https://defillama.com A double-edged sword! There's always a hole for negativity to exist around positivity. A significant increment in the number of funds and adopters also invite dozen "bad" actors to join the hype. As per The Block data (last updated on Nov 2, 2021) shows funds stolen by DeFi attackers reached $681.14m (happened around 2020 to 2021) https://i.imgur.com/QhGrgB7.png Source: https://www.theblockcrypto.com/data/decentralized-finance/exploits Let me talk first about my thoughts! Related to my intro: Exploited DeFi projects The most crucial thing when some protocol/platform gets exploited is how to recover the lost funds as soon as possible and make sure the process goes smoothly. Time to file an insurance claim! As far as I know (Or I might need more references), most of the existing DeFi insurer uses community vote/validation to decide the claim is accepted or denied. The problems that might be faced by using this method are taking more time to get an outcome, potentially raisings conflict of interest on involved group or individual, and might tend subjectively. Steady State offers a different method on the claims process - Steady State automizes the claims process that'll integrate with smart contracts to make it quicker, objective, and reduce inefficiencies (Sounds like fit to the spirit of blockchain). Isn't that what DeFi needs? Other Steady State features are also good to discuss - Steady State's coverage pools that potentially solve the liquidity problem faced by DeFi insurance, Off-Chain data analysis & objective risk scoring that will optimize insurance policies, and so on. Your turn! You can find all the information related to Steady State here:
Additional info! Steady State Ambassador Program You can check all the info and how to apply here: https://bitcointalk.org/index.php?topic=5369783.msg58378359#msg58378359 Steady State Gaming Competition Gaming competition commencing on - 14.11.2021 8 PM UTC You'll face me on the battlefield. So, make sure to train hard!
Hey, don't be surprised! Yes, this DeFi Insurance hosts a game competition for its community. I told ya, Steady State aims to be the insurer that understands what DeFi needs, and what we need as well. LMFAO Thoughts? Disclaimer: I'm purely part of their community that feels interested in this project - not involved in a project as a team member Title: Re: Steady State is a fresh breeze in the insurance section - Thoughts? Post by: gera901 on November 13, 2021, 06:09:04 PM How to participate in a gaming competition?
Title: Re: Steady State is a fresh breeze in the insurance section - Thoughts? Post by: jillscarbrough on November 13, 2021, 06:20:48 PM How to participate in a gaming competition? Hey, Check out all the info here: https://steadystatedefi.medium.com/special-steady-state-contest-lets-get-krunk-d-26f0746af405 They've allocated a hefty prize of $212 USDC for the winner, btw! Title: Re: Steady State is a fresh breeze in the insurance section - Thoughts? Post by: anamSagitarius on November 13, 2021, 08:04:28 PM why krunker when we can play CSGO or some other popular game?
Title: Re: Steady State is a fresh breeze in the insurance section - Thoughts? Post by: Gravitis on November 13, 2021, 08:22:15 PM why krunker when we can play CSGO or some other popular game? Krunker is a "low barrier" entry game. Meaning no download or purchase needed. We will have more serious games in the future! Title: Re: Steady State is a fresh breeze in the insurance section - Thoughts? Post by: jillscarbrough on November 14, 2021, 07:29:15 AM .......... They've allocated a hefty prize of $212 USDC for the winner, btw! Plus Kunker will chip in 15k KR to the champion! https://i.imgur.com/RZF9JZK.png https://twitter.com/krunkerio/status/1459593101853564933?s=20 |
