Kylin Network Mainnet (KYL) and Tidal Finance heralded their partnered venture for improving the DeFi insurance platform by working towards the validation of data feeds and analytically evident cases in understanding the contracts’ total locked value, the time contracts, as well as various other indicators to assess risk amid of the protocols currently in place. Further, other than this, Kylin Network, also through this venture, will provide decentralized price feed oracle services to Tidal Finance.
Kylin Network Mainnet is a company that offers any applications and blockchains platforms direct but reliable and valid on as well as off-chain market data and social data sources by leveraging the power of Polkadot or Substrate Framework on open networks. The company offers the following products such as Kylin Data Analytics; Kylin Data Oracle; Kylin Data Marketplace; Kylin Token $KYL etc.… and oracle services such as Decentralized Insurance Automatic Payment; Stable Coins and Crypto Derivatives; Crypto Asset Lending Platform; Cross-chain Decentralized Exchange; Decentralized Casinos and Games; Blockchain Computing Market. Industry experts and professionals lead the team of Kylin.
Tidal Finance company is like a Balancer of insurance market based and constructed on the Polkadot Framework that permits users to create customized insurance pools for assets. The company rewards its insurance pool’s creators with the return from their deposits, the maximization of capital efficiency attracts LP’s, while the offering of insurance premium attracts purchasers.
Tidal provides digitized tokens distributed to liquidity providers and insurance purchasers as per the staked sum and purchased volume of insurance covers. This token is designed to incentivize Tidal users and regulate various processes on the platform and has economic value generated from returns of insurance pools. These insurance tokens can also be freely traded on an open marketplace that gives the flexibility and allowance to the buyer and the seller to transfer their insurance contract at their disposal.
Furthermore, considering both the companies’ expertise and abilities, in this partnership venture, KYL Network’s products provided will facilitate the users a vigorous source of data for constant risk quantification of several smart pacts on our platform for creating a safer and equipped insurance cover space. This venture will also give the cutting-edge of blockchain to Tidal’s strong decentralized data infrastructure that will empower a new use case efficiency — protocol risk assessment in DeFi Insurance.