Pools 1–4 have been all launched successfully and 2 days after launch, we are already breaking records. The WNXM pool currently has over $100 million deposited (around 68% of all WNXM is staked on our protocol). Meanwhile the balancer pool has close to $90 million in deposited assets and just hit $10 million trading volume on Balancer.
The growth I’ve seen in these two days is extraordinary and I want to thank you all for making this possible! As a reminder, the SAFE token is a governance token. We plan on using SAFE in future products and governing the protocol.
The first major product we plan on shipping will eventually allow users to buy cover on virtually anything that people are willing to stake on, creating a limitless cover market. This will go beyond smart contracts, allowing anyone to buy cover for floods, hurricanes, cars, etc. We are still working on perfecting the design of the product, but the vision is to allow cover buying to expand beyond just DeFi smart contracts. More details and an in-depth explanation about this product will come next week!
We understand that right now, the hot topic is yield farming. People buy insurance to protect their staked assets so they are net neutral to risk. Nexus Mutual is a great provider of this type of cover and is why they underwrite yinsure.finance. However, I do believe there is lots of room to expand in this field and we can all benefit from it. I want to create a protocol where buying cover on real-world events is simple, transparent and easy. That is the goal of yieldfarming.insure and I plan to adhere to this vision as closely as possible.
If you are interested in working with me to develop this product, please contact me through twitter or email me!