UnoRe Launches Risk Averse Staking Program

UnoRe Launches Risk Averse Staking Program

The new staking pools will offer up to 20 percent APY in USDC

UnoRe, the world’s first decentralized reinsurance platform, has launched an innovative staking program based on fixed-size stablecoin pools. It will be powered by the protocol’s insurance risk management solution and allow users to stake and earn rewards using stablecoins.

The new program satisfies a need in the DeFi sector of the blockchain industry to circumvent current issues such as currency risk, overly complex strategies, tedious staking processes, and volatile markets. While it is currently possible to stake stablecoins, UnoRe takes this solution a step further by rewarding stakers with truly stable assets as well. This eliminates the currency risk that is still present in most protocols where rewards are distributed using their volatile native tokens.

Currency risk is what stakers are exposed to when their staked asset fluctuates as well as the token they are rewarded with. Similar issues are present in the phenomenon known as “impermanent loss.” By relying on stablecoins to provide liquidity to its pools, UnoRe is never affected by the extreme volatility that characterizes these assets in regular programs.

Continuing with other drawbacks, it also prevents users from getting involved in complex operations where they are not privy to how their funds are being used. It is not uncommon for protocols to use staked funds to invest in other risky and volatile assets. UnoRe’s approach even prevents users from having to deal with the obscure task of buying wrapped and native tokens in order to participate in the program.

“DeFi services need to up the ante in terms of what they can do for stakers and and our risk management solutions are key to improving this. By giving stakers the chance to invest in our multistrata pools we’re essentially spreading risk, reducing loss possibilities, and maximizing the utilization of funds,“ said Jaskanwar Singh, Co-Founder and CEO of UnoRe.

On UnoRe’s upcoming investment dApp, users will be able to earn up to 20 percent APY in USDC for providing liquidity to the platform’s insurance and reinsurance pools. As explained by the UnoRe team, “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.” Further details about the program have been shared on the project’s official blog.

About UnoRe

UnoRe is the world’s first decentralized reinsurance platform powered by Polkadot, allowing the community to invest and trade in ‘risk’ and receive sizable returns on their investments in one of the safest asset classes in the world. The platform aims to break barriers to entry for the retail investor by doing away with the historic pre-requisite of absurdly high capital generally needed to invest into the market while also introducing much-needed transparency into the industry as a whole. UnoRe will also allow the community to propose innovative insurance products to the space, thus propelling a new generation of Insurtech companies powered by the UnoRe ecosystem.

Press contact:

Robert Penington

[email protected]

Original Source of the original story >> UnoRe Launches Risk Averse Staking Program

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