Supercharging CoverPortal

Uno WatchDog’s success highlights the significance of creating a service that’s easy to promote. Its simplicity in offering a comprehensive security solution makes it appealing to protocols seeking protection from major risks.

We should consider a similar approach for CoverPortal. Currently, users can sign in, scan risks in their wallets, and get coverage, providing a smooth UX. What if we took it a step further?

I propose a new product within the Uno Re ecosystem that enables users to invest in insured DeFi strategies with one click. For example, a strategy yielding 20% on Arbitrum with smart-contract and de-peg risks could be offered on the new platform, automatically insured, and display a 14% APR after insurance premiums.

This would allow users to enjoy DeFi without worrying about potential risks. Other DeFi protocols could also utilize this to make their idle capital work without additional risks, as Uno Re would provide the coverage.

Since this would be a reskin of CoverPortal, it wouldn’t create extra risks for Uno Re. Developing such a dApp may require time and capital, so it may not be an immediate priority, but it’s worth considering for long-term development plans.

1 Like