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INS3 Brings Decentralized Coverage To Polygon With 2,700 $ITF Per Day In Rewards!

INS3 Insurance, the provider of decentralized coverages on the Binance Smart Chain, HECO Chain, Conflux and OKExChain, is now bringing its unique coverage options and staking rewards to Polygon!

With the most recent DeFi exploit of the Polychain Network where the white-hatted hacker eventually did return the funds, DeFi is facing an exploitation problem on the network which if kept un-checked, will slowly but surely drain the industry of all total value locked. Coverage providers like INS3 are able to combat this by offering protection on volatile assets and rug pulls through their decentralized coverage provider, where the insurance is provided in a P2P method. 

Users who stake assets on INS3 are rewarded in the platform’s native $ITF token, while the funds provided double as coverage for potential exploits and hacks. With an initial seed round of $2.4 million, INS3 has the backing of some impressive industry giants including: Conflux、 Web3.VC, OKex BlockDream Venture, Beagle Capital, and more. 

To begin with, INS3 will work closely with existing partners on the Polygon network who can use decentralized insurance as a bonus factor for its existing users. These partners will include but are not limited to WaultSwap, QuickSwap, ApeSwap, Sushi, AAVE and more. In addition, INS3 will provide 2,700 $ITF in incentives for early users to stake accepted assets as the underlying liquidity provider for hacks, exploits and market volatility. 

According to Roc Xu, Founder of INS3: “By bringing INS3 to the Polygon network, we are plugging ourselves into one of the fastest growing ecosystems both in terms of projects being launched and in terms of users populating. We are excited to add a layer of protection and risk hedging for all Polygon users.” 

About Polygon 

Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.

If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.

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About INS3

INS3 provides full and partial coverages for high risk assets across multiple blockchain including Binance Smart Chain, Conflux and HECO. As a community driven, decentralized product, it carries unique features that ensure INS3 not only provides insurance on volatility, but also acts as a tail risk derivative platform for users to buy and sell secondary assets in the form of coverage. 

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For media inquiries please contact: ins3project@outlook.com

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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