Tidal Finance To Implement Version Of Their Platform On The Oasis Network
Oasis Foundation: Tidal Finance To Implement Version Of Their Platform On The Oasis Network
April 12, 2021
Tidal Finance To Implement Version Of Their Platform On The Oasis Network
Oasis Foundation: Tidal Finance To Implement Version Of Their Platform On The Oasis Network
April 12, 2021

The Oasis Foundation has announced that Tidal Finance, the DeFi insurance and coverage provider, will be implementing a version of their platform on the Oasis Network. 

It has been reported that insurance will be important for users of the platform as Oasis scales its DeFi offerings and that by working with Oasis’ “confidential smart contracts” Tidal will be able to deploy new claims methods, such as “anonymous, democratized voting” that preserves voters and user privacy.

However, the move mirrors similar ones being made in Ethereum’s DeFi ecosystem, where multiple projects are launching new insurance platforms or planning to bake coverage directly into their offerings at the protocol layer.

The report said that in 2018, the company raised a monster $45 million as the rest of the crypto market stalled, and use-cases such as medical records and individuals selling personal data were touted as part of a privacy-preserving computational network. 

Likewise, the company’s current strategy consists of a patchwork of initiatives focused on big data, data privacy, and decentralized finance. Last year, they announced a project with Binance to allow exchanges to confidentially share threat assessment information regarding fraud and hacks, and earlier this year worked with automaker BMW to enable cloistered information storage to protect privacy while sharing data internally.

ALSO READ :  Cambodia Launches Blockchain-Based Platform "Bakong" For Digital Money Transactions

The partnership with Tidal may signal a renewed focus on DeFi.

Thus, the press release notes that Tidal’s insurance on DeFi pools will be key for Oasis’ “rapidly expanding” DeFi ecosystem and that multiple “lending protocols and DEXs that will be integrated into the Oasis Network in the coming months.”

Source: Cointelegraph


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Coinbase Active Users Increase By 120%

Coinbase Active Users Increase By 120%

The active users of Coinbase, the major cryptocurrency exchange, have increased by 120%, while trade volumes tripled. It has been reported according to documents filed with the US Securities and Exchange...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.