Tidal To Launch Balancer LBP Following 500x Oversubscribed Polkastarter IDO
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
Tidal Finance, a high-yield insurance platform, offers the ability to hedge against the failure of a DeFi protocol or asset. While reinventing the way decentralized insurance works, Tidal Finance plans to attract participation from the community through a Balancer liquidity bootstrapping pool on 25th March. The Tidal IDO on Polkastarter was oversubscribed by 500 times garnering massive support from the community. Backed by KR1, Hypersphere Ventures, Spartan Capital, Kenetic Capital, QCP Capital and AU21 Capital, Tidal Finance integrates its decentralized smart cover solutions in various protocols to protect the nascent DeFi industry from malicious threats to fuel DeFi adoption. The Tidal platform allows users to cover multiple protocols at the same time with increased capital efficiency. It also offers competitive insurance premiums to its buyers, thus attracting increased participation from DeFi users.
On a Mission to Reinvent the Way Decentralized Insurance Works
The current DeFi landscape is susceptible to hacks due to the lack of robust infrastructure solutions allowing malicious entities to take advantage of the protocol’s vulnerability. Tidal Finance aims to hedge the risks of platform users to push WEB3 adoption beyond measures. In order to do so, smart insurance cover solutions need to be introduced to ease DeFi investments for users in various protocols. Tidal Finance employs multi-faceted functionalities that offer increased security to protocols, guarantors, and cover buyers.
To drive the same mission, Tidal Finance is holding its public distribution on Balancer on 25th March. The Balancer Liquidity Bootstrapping pool will follow the Initial DEX Offering on Polkastarter. Tidal successfully completed the IDO on Polkastarter on 23rd March. The Whitelisting round was oversubscribed by more than 500X. In the upcoming LBP sale, a total of 1 billion $TIDAL tokens will be distributed.
Platform users will be able to employ a $TIDAL token. The $TIDAL token is central to the incentivization structure for Tidal Finance’s platform. It has various utilities that the holders are entitled to in case of failure of the decentralized asset or protocol. The $TIDAL token will be employed as a governance token to vote on various proposals driving the decisiveness on the platform. Active platform users will also be able to stake $TIDAL tokens in exchange for staking rewards.
Tidal Finance is all set to unleash the true potential of DeFi by providing a protective layer to the vulnerable DeFi landscape. It’s simple, smart, and intuitive smart contract insurance solutions aim to revolutionize the DeFi insurance space at an astounding rate, imparting immense value to the DeFi economy.
Tidal’s Liquidity Bootstrapping Pool on Balancer begins March 25th 2pm UTC. More details at https://sale.tidal.finance.
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.
With Tidal, users can 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.). On the other hand, Liquidity Providers can invest in pools that suit their risk/reward ratio.