Insured Finance Successfully Completes Fundraising Round with Participation from Several Renowned VC Firms
The value of digital assets has drastically grown this year. The total value locked (TVL) in decentralized finance protocols recently reached over $16 billion. As DeFi and digital assets rapidly innovate and advance, holders of digital assets become exposed to a wide variety of risks.
Insurance solutions will become more important as the digital asset industry evolves. However, current insurance products are extremely restricted in their offerings. DeFi users can only secure coverage on specific DeFi protocols and only a small fraction of the TVL is covered. Insured Finance is building the future of digital asset insurance by launching a marketplace where users can make tailored requests for insurance.
Any participant in the marketplace can fulfill requests to earn a premium. Possible coverage extends far beyond DeFi protocols. Stablecoins can be insured against failure and exchange holdings can be insured against hacks. Combined, the potential value which can be insured is over $100 billion.
There is a pressing need for such an insurance solution and some of the leading venture capital firms in the cryptocurrency industry have acknowledged this. Several renowned VC firms have participated in the Insured Finance angel round with a total of 3 million tokens being allocated to these strategic partners. Each angel round participant is committing both their capital and their expertise to Insured Finance becoming a success.
Participants in the angel round include Moonrock Capital, Blue Node Capital, Nabais Capital, VYSYN Ventures, Vendetta Capital and Fairum Ventures. Each of these firms is a veteran in the cryptocurrency industry and will provide valuable guidance during the growth of Insured Finance.