Decentralized finance or DeFi has taken over the world by storm and is growing continuously with every passing year. However, as rewarding as the concept of DeFi is, it bears the same level of risks, including hacks, stablecoin price crashes, scams, and frauds that wiped over $10 billion in 2021 alone. This is where DeFi insurance can help mitigate the risks. UNION plays a major role in this domain by offering users bundled protection featuring different coverage layers. To reduce the overall severity, they aim to segregate risks into different segments such as Layer 1 risk, smart contract risk, exposure risk, transaction completion risk, etc.
UNION is an open-for-all technology platform in the DeFi space that offers users access to full-stack DeFi protection and a reward system for supporting the UNION Finance ecosystem.
“RIGHT NOW, we have our core platform launched on both the Ethereum and Avalanche, offering our most recent versions of our Collateral Optimization/Volatility Protection (C-OP) and UNION Crypto-Default Swap (U-CDS) architecture, which supports our Smart Contract Protection (SCP) protection offering.” – Union Team
The utility behind UNION Protocol is sound; it addresses two of the largest problems in the DeFi space; over-collateralization and event risk. The percentage of collateral goes up to 150% on major lending protocols, which can be reduced significantly through Union’s Collateral Optimization (C-OP). This allows the borrowers to unlock a significant amount of their collateral and avoid the liquidation of their locked assets. For event risk UNIONS protocol pairs risk takers with benefit payers using battle tested traditional finance risk capital models and composable DeFi liquidity pools. The concepts and technology of the UNION protocol have been tested numerous times for their efficiency and real-world application, and now the team is focusing more on its adoption by the masses.
The company started with a goal of developing and fine-tuning their platform to perfection; something their users can rely on with their eyes closed. After two years of tireless effort, they’ve managed to build such a platform with sophisticated DeFi technologies, they realized their community-building goals are still lagging behind. To solve this problem, UNION is now focusing more on mass adoption through PR outreach, website overhaul to be more user-friendly, content creation to educate the general population, social outreach, and an NFT project called hUNNy Badger.
The team behind UNION hails from diverse backgrounds, including blockchain, crypto, insurance, wealth management, law, media, venture capital, data sciences, software development, and information security, to name a few. They’re continuously working to make UNION the forefront in the DeFi protection space, and their product unequivocally has the potential. They’re now focusing more on community growth, and product accessibility to boost platform engagement.
To learn more about UNION or to access their protocol, visit their website unn.finance or contact via info@unn.finance
About UNION:
UNION is a technology platform that combines bundled protection with a multi-token model. DeFi participants manage their multi-layer risks across smart contracts and protocols in one scalable system. UNION decreases the barriers to entry for retail users and lays the foundation for institutional investors.
Media Contact
Company Name: Union Protocol Labs, Inc.
Contact Person: Max Anderson
Email: Send Email
Country: Panama
Website: http://www.unn.finance/