Participants in most DeFi staking programs generally face certain inefficiencies in the market and the infrastructure that is built around it. These include currency risk, obscure strategies by protocols, and cumbersome processes besides general market volatility.
While many projects have attempted to solve the currency risk and volatility issues by supporting stablecoins, this is a halfway solution. Currency risk refers to the chance that exists for stakers to lose money when the price of their staked asset changes drastically along with the price of the asset they are rewarded with. This is an issue that current users still face given that staking programs generally reward them with the protocol’s native token.
This is where UnoRe is introducing an important new solution. The decentralized reinsurance platform has launched an innovative staking program based on its insurance risk management solution. More importantly, it will reward users using stablecoins, thus eliminating the currency risk and volatility concerns.
Likewise, UnoRe’s staking program will make it easy for users to participate by avoiding all the complexities that exist in other programs. Stakers will enjoy up to 20 percent APY paid in USDC by using its upcoming, user-friendly decentralized application.
Ultimately, they will be providing liquidity to the platform’s reinsurance pools, making the whole system more robust. The team explained that, “each pool comprises different types of covers and uncorrelated asset classes, thus significantly reducing the probability of loss to the investor to essentially zero, and in turn, promising maximum utilization of invested funds.”
Jaskanwar Singh, Co-Founder and CEO of UnoRe commented on the project’s outlook for the new staking program stating that “DeFi services need to up the ante in terms of what they can do for stakers.” He believes that together with UnoRe’s risk management solutions, the innovative staking program can effectively do more for users than what current solutions offer.
Disclaimer: Any information written in this press release does not constitute investment advice. CoinQuora does not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release. CoinQuora is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release.