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Shield Finance Acquires $780k To Deliver DeFi Insurance Aggregation

As the demand for insurance products for a highly volatile DeFi market grows, Shield Finance is introducing DeFi insurance aggregation via a forthcoming IDO after closing its recent private funding round from top private investors and venture capital funds...

05/11/2021 10:24

As the demand for insurance products for a highly volatile DeFi market grows, Shield Finance is introducing DeFi insurance aggregation via a forthcoming IDO after closing its recent private funding round from top private investors and venture capital funds.

Innovative Platform Designed To Protect DeFi Investors Against Market Risks

Although DeFi has emerged as a promising solution for disrupting traditional finance models, it still is an erratic and unpredictable ecosystem. Over the past few years, several reported instances of crypto investors facing exchange hacks, bugs, and misplaced private keys led to considerable losses in investment capital.

As a result, there has been a surging demand for decentralized insurance products, which acts as a safety net for the DeFi ecosystem. To cater to this need, Shield Finance, a multi-chain DeFi insurance aggregator, will soon launch the market’s first proprietary aggregator engine designed to provide investors with custom DeFi insurance packages. 

Shield Finance successfully closed its private funding round, attracting participation from some of the most prominent private investors and VC firms, including Zokyo, Spark Digital Capital, Titan Ventures, PAID Network, NGC Ventures, DAO Maker, among several others. Since reaching the $780,000 funding hard cap, Shield Finance is poised to launch its platform via a public Initial Dex Offering (IDO) on Ignition Launchpad.

Denis Gorbachev, CEO of Shield Finance, is optimistic about the upcoming platform. He adds, “Insurance plays an important role in DeFi as a way to de-risk your investments. With a number of insurance players in the market, a multi-chain insurance aggregator will naturally attract users as a go-to place to buy Insurance. This fundraise will be instrumental in driving the growth and development of Shield Finance.”

Adding A Safety Net For DeFi Users And Investors

Decentralized insurance promises a bright future and an intriguing opportunity to expand into underserved markets and developing economies. As more and more DeFi apps continue to accrue value through the underlying smart contracts, the associated risks of market crashes, price drops, rug pulls, and other DeFi-centric problems need a robust solution.

Shield Finance aims to pioneer the DeFi insurance sector by partnering with DeFi exchanges, wallet providers, and other businesses to simplify the process of finding and buying the right and the most cost-efficient DeFi insurance plans. Its proprietary aggregator engine will allow users to choose and compare programs from multiple service providers without leaving the platform. 

Following the launch of the aggregator platform across Ethereum, Binance, Polkadot, and Solana blockchains, Shield Finance plans to launch several other add-ons and enticing features in the coming days, including a dedicated web app and inclusion of more DeFi service providers. 

Image Sourced from Pixabay