Bluzelle x Shield Finance
We are pleased to announce a strategic partnership with Shield Finance to accelerate DeFi adoption and create a one-stop shop experience for DeFi users. Decentralized Insurance is one of the crucial aspects in the ever-changing DeFi landscape. As the nascent DeFi industry transitions to maturity, employing safe and secure insurance solutions is of utmost important to avoid unexpected risks.
Shield Finance is a multi-chain DeFi insurance aggregator solution that enables users to smart contract covers from underlying insurance players. It is the 1inch of the insurance market protecting users from market crashes, huge sell-offs, hacks, malicious threats and exploits.
Highlights of the Bluzelle-Shield Partnership
Under the purview of this partnership, both Bluzelle and Shield Finance will work towards accelerating the Web3 adoption by synergistically driving increased utility. Bluzelle will be providing its accurate and reliable price data feeds to Shield Finance’s Market Crash Protection Contracts. The price feeds from Bluzelle’s oracles will be instrumental in determining whether the crash occurred or not. The external price feeds will gauge the intensity of the crash and the extent of damage to chalk out the future course of action.
On the other hand, Shield Finance will be providing a seamless getaway for Bluzelle’s token to access its underlying insurance providers to drive increased security. Users can access various insurance protocols according to their needs and preferences with a single-click on the Shield Finance interface. This will immensely contribute to driving adoption as users will now be able to avoid unforeseen circumstances like in the past.
Denis Gorbachev, CEO of Shield Finance, on exploring the avenues of the partnership said,
“Our partnership with Bluzelle is an important step towards deploying our Market Crash Protection contracts. After all, the contracts are required to determine whether the crash happened or not (to trigger payouts), and they need an external price feed for that.”
Pavel Bains, CEO of Bluzelle, believes that Shield Finance’s technology could significantly drive increased safety and security in the dynamic DeFi space. He said,
“With mainstream media giving more attention to crypto, there is a wave of new users coming. It’s imperative the industry does its best to protect these new participants as they have not gone through prior cycles. By working with Shield, Bluzelle plays its part. Plus Shield is moving from Ethereum to Binance Smart Chain and Polkadot, networks that we support.”
About Shield Finance
Shield Finance is a multi-chain DeFi Insurance Aggregator that allows users to buy protection against major market crashes due to hacks, exploits, rug pulls, sell-offs, and other black swan events. We are currently integrating multiple insurance providers to provide our users with reduced slippage and expansive coverage.
Bluzelle aims to be the go-to data layer for Web 3.0 by providing a decentralized data network that is tamper-proof and has greater privacy, scalability, and availability than traditional solutions. Powered by Cosmos, Bluzelle handles 10,000 TPS and is a delegated proof of stake. Bluzelle’s DeFi solutions are being developed to enhance Defi with historical price feeds, provide data analytics, 360-degree views, and more. As DeFi grows, Bluzelle’s infrastructure services play a significant role.