The decentralized finance (DeFi) coverage aggregator Bright Union has launched its highly anticipated mainnet. In the lead-up to this launch, Bright Union announced partnerships with three DeFi coverage protocols including Nexus Mutual, Bridge Mutual, and InsurAce. Collectively, these protocols have already sold over $500 million worth of covers. These partnerships allow Bright Union to match DeFi coverage policy buyers and providers with over 130 coverage products, the most extensive supply of crypto coverage in the current marketplace, accounting for around 90% of the DeFi coverage market. In addition to furnishing a multi-chain compatible one-stop-shop for DeFi coverage, Bright Union will develop a bespoke series of innovative products such as the Bright Risk Index, portfolio coverage for institutional DeFi users, as well as DeFi coverage infrastructure allowing other DeFi protocols to sell directly to their users. Why the DeFi Community Needs Coverage Blockchains are secure and immutable networks that allow for transactions to be made and records to be kept in a transparent and decentralized manner. Most blockchains developed after Bitcoin, like Ethereum, are Turing complete, which means they can act as a computer that executes code in the form of a smart contract. Smart contracts make DeFi services possible, but great care is necessary when coding these contracts, since bad actors can find creative ways to exploit a dApp’...
