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Africa’s Top Defi Project, Xend Finance, Partners With Tidal For Insurance - Business - Nairaland

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Africa’s Top Defi Project, Xend Finance, Partners With Tidal For Insurance by chumsfortech: 7:14pm On Jan 23, 2022
Xend Finance, the leading DeFi project right now to come out of Africa, has partnered with Tidal Finance, the latest success in DeFi Insurance, to enhance protection of members’ assets on its platform.

This partnership will provide decentralized mutual cover pools for assets and smart contracts on the Xend Finance platform.

Xend Finance allows users to convert their savings into stablecoins which are then staked on DeFi lending platforms like Compound, AAVE, and Balancer, to earn compound interest with high APYs.

Tidal Finance, on the other hand, allows users and liquidity providers to select risk and invest in pools by choosing any combination of protocols / assets and their coverage terms that suit their risk / reward ratio.

1/ We are glad to share that our Balancer LBP was a huge success�

We want to thank our community for the overwhelming response on the sale. This wouldn't have been possible with your unwavering support�� pic.twitter.com/iFLPQvNM2f

— Tidal Finance (@tidaldefi) March 28, 2021
This partnership now means that users on the Xend Finance platform can easily buy insurance premiums for their assets further strengthening the Xend Finance security by ensuring users assets are always covered in unforeseen events.

At the same time, the partnership means $XEND tokens will now be added on Tidal Risk Pools.

The new partnership comes days after Xend Finance saw one of the largest Liquidity Bootstrapping Pools (LBPs) on Balancer ever followed by a successful UniSwap launching.

Tidal Finance’s Initial Dex Offering (IDO) on PolkaStarter a few days ago also saw a huge over-subscription (over 500x) before its successful listing on Balancer DEX demonstrating the huge demand for DEX insurance services.

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About Tidal Finance


Tidal Finance makes DeFi safer by providing insurance coverage for assets across chains in custom balanced liquidity pools. Tidal Finance is a Balancer-like insurance market built upon Polkadot that allows users to create custom insurance pools for one or more assets.

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