Bridge Mutual

Bridge Mutual (BMI) is a decentralized blockchain—based insurance platform that allows users to buy and provide coverage against smart contract failures, stablecoin failures, exchange attacks and other events.

Features

With Bridge Mutual, users can purchase or provide protection for smart contracts, stablecoins or exchanges. For example, coverage providers who want to offer coverage to Aave (AAVE) users will contribute stablecoins to the Aave pool, which allows them to passively earn income (in the form of stablecoins and Bridge Mutual (BMI) tokens) and receive a share of profits when others buy Aave Coverage. Users can quickly purchase Aave coverage using the Bridge Mutual app and easily file a claim in case of hacking or using Aave.

When users block stablecoins in Bridge Mutual coverage pools, these funds are reinvested in popular (and secure) revenue-generating platforms that return revenue to coverage providers. When the claim is approved, the stablecoins from the coverage pool are transferred to the applicant.

Platform users can provide coverage for pools with varying degrees of risk according to their risk appetite. In turn, suppliers receive risk-to-ratio returns resulting from reinvesting funds in coverage pools on decentralized credit platforms, profit sharing and voting rewards that are provided to those who vote on submitted claims.

Unlike other coverage platforms that require manually adding and approving assets,

the autonomous and self-managed Bridge Mutual system allows anyone to add a smart contract, asset or project to the platform and start providing coverage within minutes. Both the assessment of requirements and the investment of funds are carried out online and verified by the public.

The intuitive dashboard of the platform will provide data on coverage and user rates in almost real time, and users can monitor coverage periods.

In addition to covering smart contracts, Bridge Mutual covers events in which the value in the stablecoin market may be missed. For statements about stablecoins, Bridge Mutual tracks the value of many stablecoins on several exchanges.

If the average price of a stablecoin falls below a predetermined price point within a certain period of time, applicants who were insured before the price drop can apply using the Bridge Mutual application and instantly receive the full cost of the purchased policy. This leaves no room for human manipulation, which could lead to the rejection of a reasonable claim.

All applications that are not related to stablecoins undergo a complex multi-stage voting process with short and predictable deadlines for consideration, regardless of the size of the application. Bridge Mutual maintains reliable compliance protocols and partnerships with audit firms to ensure not only the audit of potential platform projects, but also a continuous audit of its own code for vulnerabilities.