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InsurAce.io and Pendle create a partnership to protect users from DeFi smart contract risks.

InsurAce.io protocol is a Singapore based DeFi Insurance protocol that has quickly become the second-largest protocol in DeFi insurance. The INSUR token was released in February 2021 and has a circulating supply of 11 million INSUR tokens. There is a maximum release of 100 million INSUR Tokens which can be mined through staking on the protocol.

InsurAce is very proud to announce a new partnership with a highly innovative new protocol, Pendle

Pendle is the first protocol that enables the trading of tokenized future yield on an AMM system. They give holders of yield-generating assets the opportunity to generate additional yield and to lock in future yield upfront, while offering traders direct exposure to future yield streams, without the need for underlying collateral.

Pendle is built on the Ethereum Network and currently supports Aave, Compound and Sushi LPs, with more platforms to be integrated in the future.

Users can earn up to almost 900% APR (at the time of writing) via the Pendle LP within the Pendle dApp.

Pendle has now been listed on the InsurAce.up Dapp with a 7.75% annual premium cost and a starting capacity of $4m USD.

“Pendle has some of the highest returns in DeFi right now. It is a fantastic project and we’re very pleased to be working with them to offer their users protection against smart contract hacks and bugs. Users can buy insurance to cover their high-yield assets for a relatively low premium and enjoy the peace of mind that their assets are safe” Oliver Xie, Founder InsurAce.io

InsurAce.io is one of the fastest-growing and most innovative insurance protocols available on the market. With over 56 protocols listed on the app in the past 4 months, and an ever-increasing range of products and services.

“At Pendle, we enable users to be creative with their approach towards protection and risk management. By collaborating with InsurAce.io, our users can now insure their participation in the protocol, giving that added confidence boost to their decision making process. It’s been a pleasure working with the InsurAce.io team on this front.” Pendle Team

This partnership will help drive new confidence in the Pendle protocol, as well as supporting the continued growth of the InsurAce.io protocol.

Source: CryptoDapper