Solace Announces Wallet Coverage Product Releasing 2/16
On February 16, 2022, Solace will release their flagship product — wallet coverage with dynamic risk ratings. Its the first of its kind in the industry, and it will completely change the way we use crypto insurance. Now, you can fund a single policy for your entire portfolio and only pay based on what’s in your wallet.
Stay tuned until the end of the article to learn about how you can get alpha on Solace’s new wallet coverage product.
Simplicity in design
Solace breaks the pattern of over-complexity in crypto insurance. Other protocols put the risk assessment process on the user, forcing them to either buy coverage for every position they have, or carefully select the positions that need coverage. It’s not a model that thinks about the user first.
Solace makes protecting crypto investments as simple as buying a prepaid debit card. Policy buyers connect their wallet to solace.fi and get an estimate on a single policy for their entire portfolio based on risk ratings of each position.
Intelligence in every step of the process
Solace doesn’t rely on human voting or market bias to approve claims. Instead, Solace designed a parametric claims process to make the experience hassle-free. Users don’t ever have to file a claim to get their funds back. Thanks to our parametric claims assessment system (PACLAS), users receive a payout during qualifiable loss events within one week.
Transparency now and for the future
Solace is the only crypto protection protocol to publish it’s pricing, risk data and risk models to GitHub and decentralized storage using IPFS. Risk managers are invited to participate in the governance process by joining the DAO, contributing to risk surveys, or by creating their own risk products.
Partnerships with DeFi Dashboards and Protocols
Zerion, StakeDAO, and Tin.Network will display Solace Coverage Policy and are exploring deeper native integration. Through integration of Solace into their dApps, we streamline the coverage experience. For the first time, smart contract exploit protection will be a click away from everyday users.
Calling all Community Members!
If you’re interested in learning more about the brand new Solace Wallet cover product, join our Discord and ask to be a part of the beta testing. We are inviting the Solace community to experience the product before it gets released and share their feedback.
About Solace
Born as a DAO, Solace’s mission is to forge innovation into intuitive protection tools for crypto explorers. With its wallet coverage, Solace is the only crypto protection protocol that offers simple, intelligent and transparent protection tools for people who want to explore crypto without compromising safety. Solace is backed by builders like Illia Polosukhin (NEAR), Sandeep Nailwal (Polygon), Evgeny Yurtaev (Zerion), Julien Bouteloup (StakeDAO & rekt.news), Alex Shevchenko (Aurora), Preston Van Loon (Prysmatic Labs), and Seth Ginns (Coinfund) who are assisting in the expansion of Solace across networks. To learn more about Solace, check out the links below.
Website | Medium | Twitter | Discord | Docs | Notion | Github
