San Francisco, CA – Quantstamp, a world chief in Web3 safety, is proud to introduce DeFi Safety, an modern safety resolution designed to reimburse customers within the unlucky occasion of DeFi losses.
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Decentralized finance (DeFi) hacks are a persistent downside and a major impediment to mainstream adoption. Based on Forbes, hackers have abused DeFi protocols practically 500 occasions, inflicting losses of greater than $6 billion since 2019. These incidents have taken their toll on DeFi customers.
Quantstamp’s newly launched DeFi Safety service is poised to supply DeFi lovers with peace of thoughts whereas defending their belongings.
DeFi Safety is a complete safety product that not solely assesses the safety of good contracts and notifies customers of potential threats, but in addition supplies 24-hour assist from safety auditors. Most significantly, the service features a guarantee program that guarantees to reimburse DeFi Safety customers for any losses resulting from gaps in Quantstamp’s safety companies.
To enroll in this system, customers can merely select the protocols they wish to shield, specify the period of safety and most refund quantity, and make their cost in USDC.
At launch, DeFi Safety will embody protocols reminiscent of Aave, Compound, Curve, Lido, and Uniswap, with plans to broaden to further protocols within the close to future. This initiative is made attainable via a partnership with Chainproof, a regulated major insurer for good contracts and threat discount, and its insurance coverage know-how associate Tint.
Notably, the guarantee program is regulated by the North Carolina Division of Insurance coverage, making it the primary program legally obtainable to residents of america. Customers should endure KYC/AML verification via Quadrata, a web3-native resolution, to substantiate their US residency earlier than they’ll subscribe.
Sebastian Banescu, head of insurance coverage at Quantstamp, highlighted: “Whereas good contract audits present a vital layer of safety, they’re just one facet of the entire. Further measures are wanted to make sure the protection of person funds. That is precisely why we have now DeFi Safety – to assist customers get better their losses.”
Along with its core enterprise of good contract audits, Quantstamp stays dedicated to exploring modern strategies to enhance the safety of blockchain corporations and their customers.
To study extra about DeFi Safety, go to DeFi Safety.
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About Quantstempel
Quantstamp is a world chief in blockchain safety, dedicated to securing the way forward for web3. Based in 2017, the workforce has constructed huge experience via quite a few audits and collaborations with a number of the high tasks within the trade, together with Maker, Compound, Polygon, Arbitrum, Sandbox and lots of others.
Thus far, Quantstamp has performed greater than 700 audits and guarded digital belongings price greater than $200 billion from cyber threats. Along with providing a variety of safety companies, Quantstamp helps the expansion and sustainability of the web3 ecosystem via strategic investments and advisory roles.
For extra data, go to our web site at Quantstamp.com or observe us on Twitter @Quantstamp.