Why TIDAL Finance is important for DeFi?
Project Overview
Tidal Finance is a project to establish a decentralized insurance marketplace in the 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 LP’s, while offering competitive insurance premiums to attract buyers.
Tidal is designed to be able to steadily keep up with whatever growth that happens in the industry. One way of encouraging increased participation in the DeFi space would be the deployment of notable insurance products that would better protect users against any cyber-attack threats or hacking incidents that could lead to the loss of capital in the sector.
Key Use Case & Importance for DeFi
DeFi is still a very new sector, and therefore vulnerable to cyber-attack threats. Although DeFi has emerged as arguably one of the most promising use cases for blockchain technology today and has experienced what can only be described as meteoric growth in recent months, it has suffered its fair share of adverse events.
Until recently, DeFi users had no choice but to simply accept the risks of using these platforms…
