Blockchain Firm AllianceBlock Partners With Bridge Mutual To Provide Compliant Coverage To DeFi

Decentralized, p2p/p2b discretionary risk coverage platform Bridge Mutual has teamed with decentralized capital market AllianceBlock to provide traditional investors with a compliant bridge to DeFi protected by decentralized coverage.

Bridge Mutual provides coverage for stablecoins, centralized exchanges, and smart contracts. Its platform allows users to provide coverage, decide on policy payouts, as well as share profit and get compensated for adjudicating claims. Bridge Mutual’s token, $BMI, aims to take and hold the throne of risk coverage platforms on the market.

he AllianceBlock Protocol is a decentralized, blockchain-agnostic layer 2 that automates the process of converting any digital or crypto asset into a bankable product. Since its launch in late 2020, AllianceBlock has announced a long line of partnerships with leading platforms including Chainlink, Ocean Protocol, Injective Protocol, Orion Protocol, CertiK, and many more.

Under the partnership, AllianceBlock will integrate Bridge Mutual into its P2P lending platform, allowing Bridge Mutual to provide coverage to lenders and investors. Bridge Mutual will leverage AllianceBlock’s pioneering multi-pair liquidity mining platform to offer BMI token holders instant liquidity via staking, with high APY rewards for a range of pairs. Bridge Mutual will also work to monetize its platform through the AllianceBlock Data Tunnel.

“Partnering up with quality projects like AllianceBlock that already have meaningful real-world collaborations, including the London Stock Exchange, is one of the primary ways we’ll accomplish making crypto mainstream,” said Mike Miglio, CEO of Bridge Mutual. “We’re excited to change the world with AllianceBlock by opening up a direct channel for consumers in the AllianceBlock capital market to provide and purchase discretionary coverage through either of our platforms.”

Rachid Ajaja, CEO of AllianceBlock, said that discretionary coverage is a very important part of their ecosystem, so they are excited to partner with Bridge Mutual and leverage each other’s technologies.

“We look forward to building an ecosystem where all participants have access to the best products while mitigating the ever-present risk of smart contract failure, hacks, and the resultant loss of collateral value,” added Ajaja.

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