HOPR partners with Tidal Finance to bring Decentralized Insurance to Data Privacy
Zurich, 7th April: HOPR, a Swiss-based metadata privacy company, is pleased to announce its partnership with Tidal Finance. Tidal Finance is making DeFi safer by building the first customizable smart contract cover marketplace powered by the Polkadot platform.
The HOPR protocol provides network-level and metadata privacy for every type of data exchange, while introducing the first-ever open incentivized mixnet, where users earn tokens for running nodes.
Tidal lets users choose risk pools depending on their risk appetite, and filter it through a combination of protocols/assets and their coverage terms (premium, cover period, etc). At the same time, liquidity providers can invest in pools that suit their risk/reward ratio.
Through this collaboration, Tidal Finance will add an extra layer of security to HOPR’s already robust layer-2 payment system by way of decentralized insurance. HOPR users and token holders will be able to further protect themselves through Tidal’s mutual cover pools.
HOPR in turn can bring vital data and metadata privacy services to Tidal users, liquidity providers, and insurance buyers.
Adding Security Through Decentralized Insurance
HOPR provides essential and compliant network-level metadata privacy for everyone. However, HOPR’s layer-2 payment system, like any smart contract securing a large amount of assets, is a potential target for hackers. HOPR’s smart contracts are fully audited and designed to be robust against third-party attacks, and HOPR’s partnership with Tidal Finance further protects user funds by way of decentralized insurance coverage.
This partnership will also be mutually beneficial to Tidal Finance since HOPR will bring a new level of data privacy to Tidal users. Liquidity providers and insurance buyers can protect their identities while using the Tidal platform thanks to HOPR’s robust metadata privacy services.
As a result of this collaboration, the HOPR token will be added to the Tidal risk pools. This will enable Tidal Liquidity Providers to earn additional returns by providing insurance for it. As more protocols are added to the Tidal risk pools, LPs will have more options to deploy their capital.
HOPR’s mission is to change data privacy for good by introducing a decentralised, privacy-preserving messaging network to the Internet.The HOPR protocol provides network-level and metadata privacy for every type of data exchange, while introducing the first-ever open incentivized mixnet, where users earn tokens for running nodes.
About Tidal Finance
Tidal Finance makes DeFi safer by providing insurance coverage for assets across chains in custom balanced liquidity pools. Tidal is a Balancer-like insurance market built upon Polkadot that allows users to create custom insurance pools for one or more assets.
Please follow Tidal and HOPR public channels for future updates:
HOPR Website: https://www.hoprnet.org
HOPR Twitter: https://twitter.com/hoprnet
HOPR Telegram: https://t.me/hoprnet
HOPR Announcements: https://t.me/HOPRannouncements
☂️ Tidal Official Website: https://tidal.finance/
☂️ Tidal Medium: https://tidalfinance.medium.com
☂️ Tidal Twitter: https://twitter.com/tidaldefi
☂️ Tidal Telegram: https://t.me/TidalGlobal
☂️ Announcements Channel: https://t.me/tidalann
📗 Tidal Gitbook Whitepaper: https://docs.tidal.finance/whitepaper