Timothea Horwell | March 23 2021
Timothea Horwell | March 23 2021
Orion Protocol announces PolkaCover as the latest partner in the Orion ecosystem, enabling decentralized insurance cover for Orion Terminal users and safe-guarding them from any unlikely vulnerabilities. Insurance products will offer coverage for hacks of connected exchanges, legal fees, phishing attacks and more.
PolkaCover is working towards creating the world’s leading cryptocurrency-friendly insurance purchase and policy issuance marketplace. Currently, different parties store their own copies of data, and process it individually. This makes it difficult to synchronize and collaborate through a shared process. Crypto Insurance through PolkaCover will be the most reliable services offered within the DeFi insurance space. PolkaCover’s products will be designed by constantly gathering data and insights through empirical research in order to safe-guard crypto users from existing and future vulnerabilities.
Orion Terminal is the decentralized gateway to the crypto market, and will allow users to trade directly across any major exchange directly from their wallet - pulling in liquidity from major centralized exchanges. PolkaCover will provide a whitelabel solution to Orion Protocol, offering insurance cover to Orion traders: insurance products will offer coverage for hacks of connected exchanges, legal fees, phishing attacks, and more to be added later. In the case that Orion Terminal users are trading on exchanges that are compromised, the exchange hack cover will protect users for their assets on those exchanges. PolkaCover will also offer specialized insurance against smart contract hacks for Orion users after conducting thorough due diligence and security audit of the smart contracts.
One of the leading concerns for new users coming on board is the security aspect of trading on any platform. This integration will reinforce the existing Orion Terminal safety net so users can trade with confidence, knowing their funds are safe from exploits, hacks, and rug pulls.
Meanwhile, access to a vast amount of new users through Orion Terminal dramatically enhances PolkaCover’s goal of supplying individuals with quality and secure products.
“We are absolutely thrilled to integrate with Orion Protocol; we strongly believe in what the team has built and are confident that PolkaCover and Orion protocol will provide a trade journey to the crypto community that will set new standards of safe trading in the crypto world.” - Kunal Sadani, CEO and Co-Founder of PolkaCover
“Having PolkaCover’s breakthrough DeFi insurance solutions part of Orion Protocol allows us both to provide our users with another important piece of the decentralized jigsaw that we are putting together. It emphasizes our combined and dedicated approach to safe and secure trading from your own wallet.” - Alexey Koloskov, CEO and Co-Founder of Orion Protocol
PolkaCover is working towards creating the world’s leading crypto currency-friendly insurance purchase & policy issuance marketplace with the aim to be the one-stop-shop for crypto & personal insurance needs. Crypto Insurance through PolkaCover will be the most reliable products offered within the DeFi insurance space. Products will be designed by constantly gathering data and insights through empirical research in order to safe-guard crypto users from existing and future vulnerabilities.