Bridge: Decentralized Insurance For Smart Contracts

Bridge: Decentralized Insurance For Smart Contracts

About Bridge Mutual
Bridge Mutual provides a decentralized, scalable and comprehensive smart contract system to ensure smart contracts, stablecoins, centralized exchanges and other crypto and DeFi products. It offers a transparent, auditable and on-chain investment strategy to return returns and profit sharing to its users and does not require KYC or personally identifiable information.

Bridge Mutual is a blockchain-based, decentralized, discretionary insurance platform. The platform allows users to provide or purchase coverage that protects against smart contract failure, stablecoin crashes, exchange attacks and other products.

Bridge operates autonomously through a set of smart contracts deployed on the Polkadot network, meaning no human intervention or actions are necessary for the platform to function. Bridge’s code is entirely transparent and posted publicly on GitHub, so anyone can audit and verify our work.

Why was Bridge Mutual Built?

Smart contracts are susceptible to hackers (e.g., the DAO hack), exchanges are vulnerable to attacks (KuCoin), and stablecoins can crash (e.g., the NuBits crash, DAI liquidity crisis). In order to increase adoption of cryptocurrencies on an institutional scale, confidence in these systems needs to be increased. Bridge solves this problem in a way that is economically viable long-term, transparent, profitable, decentralized, and scalable.

In addition, Bridge has the potential to be disruptive to the traditional insurance industry. Today’s mainstream insurance model hasn’t taken advantage of the advancement of technology and is ripe for disruption. Instead of continuing with the litigious, opaque, adversarial and bloated model of traditional insurance, Bridge intends to revolutionize insurance by making the process fair, transparent, neutral and efficient using blockchain technology.

Bridge Features
Decentralized: Bridge is a decentralized insurance platform that allows its users to insure each other.
Transparent: Bridge is a transparent insurance platform where claims assessment and investment of funds are on-chain and audit-able by the public.
Fair: Each claim submitted will be reviewed through a 3-phase voting process with rewards and punishments.
Disruptive: The insurance model introduced by Bridge will replace the traditional insurance model which is less transparent and outdated.
Efficient: Bridge operations are more efficient than traditional insurance platforms because they do not require branches or working agents.
Quick: Bridge usually processes a claim within a period of usually under 6 weeks, regardless of the size of the claim.

Provide Coverage

Choose coins, contracts or exchanges that you think are safe.
Stake your BMI in their pools to provide coverage to customers.
Earn passive yields over time and share profit when people buy insurance.

Purchase Coverage

Choose coins, contracts or exchanges that you want coverage for.
Get a quote and buy discretionary insurance instantly using our app.
Easily make a claim on our app in the event of a crash or an attack.

Problem
Smart contracts, stable coins and other crypto products are susceptible to hackers & failures, making it difficult for institutions to enter the market.

Solution
Bridge provides the most transparent and efficient p2p coverage platform, allowing anyone to reliably insure smart contracts, stable coins, and more.

Conclusion
As we know, currently many unwanted events occur in the crypto market, for example, such as the KuCoin hack which caused millions of dollars in losses. We don't want something like this to happen again. And to prevent this we can use insurance services to protect us. Bridge is a decentralized insurance platform that allows crypto users to insure a smart contract, stable coins, centralized exchanges, and more. This is a platform built on the Polkadot network, which will provide users with the most transparent and efficient p2p coverage platform, and allows anyone to reliably insure their assets or maximize their profits by becoming a staker.

Token Utility
DAO Voting Eligibility
Access to coverage
Yields from investments
Premium profit sharing
Vote on claims and earn

Token Metrics
Token Ticker: $BMI
Token Supply: 160,000,000
Initial M/Cap:  $500,000
Sale Price:  $0.125
Vesting: 25% per Month

Token Economics
8%:  Sales
41%:  Liquidity
16%:  Operations
6%:  Vault
17%:  Team
4%:  Community
9%:  Protection

Roadmap
Q4 2020 - Private Sale Development

Q1 2021 - Private Sale Development

Q2 2021 - $100M Coverage Forecast Bridge DAO Governance

Q3 2021 - Product Expansion Capital Pool Growth Coverage Growth

Q4 2021 - Main net V2 Traditional Insurance

Team

Mike Miglio - CEO

Ian Arden - CTO

Lili Feng - CLO

Hartej Sawhey - Strategy & Auditing

Luke Lombe - Communications

Roman Zakharuk - Development

Mykola Kovach - Design

George Tsui - Insurance Model Design
Wei “Frank” Cui - Tech & China Market

Robert Collins - Insurance & Mutuals

Tyler Ward - Investor & Voluntary Advisor

For more information

Website: https://www.bridgemutual.io/
Telegram: https://t.me/bridge_mutual
Twitter: https://twitter.com/Bridge_Mutual
Medium : https://medium.com/@bridgemutual

Author

Bitcointalk Url: https://bitcointalk.org/index.php?action=profile;u=2851010