Bright Union [Announcements]

2022-02-24 12:36:45 Open / Comment

2022-02-11 16:53:47 bright_union (Twitter)

@BridgeMutual Congratulations on launch of V2 which enables leveraged staking

#BrightUnion integrated asap to get our users those extremely competitive prices

Bright Risk Index is also allocated ~40% into your staking> https://t.co/jLOjXTMf0E

#bridgemutual #defi https://t.co/2RqoKs5fZS Open / Comment

2022-02-11 16:53:39 Open / Comment

2022-02-11 14:26:26 BRIGHT UNION (token: $BRIGHT) is a multichain compatible one stop shop for DeFi Covers, a decentralized and permissionless “insurance" against hacks, scams and protocol failures. We offer the widest range of DeFi covers (180+) at the lowest price.
Bright Union is being run by a bunch of crypto and insurance experts, who all worked together previously, from the Netherlands (Amsterdam & Utrecht)

PROGRESS UPDATE

TRIFOLD IDO SALE > BRIGHT STAKING >MAINNET LAUNCH > MULTICHAIN COMPATIBILITY > BRIGHT SDK - EMBEDDED COVERAGE > LOYALTY NFT CAMPAIGN

ROADMAP

Q1 Bright Risk Index

Q2 Bright Institutional Coverage

Q3/4 Pay-as-you-go Coverage read more

THE PROBLEM
Hacks, smart contract failures and rug pulls are a big problem in crypto and coverage exists in order to protect users’ funds. However, there is a lack of available capital to underwrite these risks. Popular protocols like Anchor are often sold out

VALUE PROPOSITION
The Bright Risk Index is an investment which provides capital to solve this issue. It provides APYs of 20%-30% to investors. The BRI is diversified across 3 risk platforms (Nexus Mutual, Bridge Mutual and InsurAce) and numerous protocol covers. It is a win-win for coverage buyers and providers

HOW IT WORKS
Users deposit DAI in the Index. The DAO invests this bi-weekly in a bulk transaction. The user then receives the BRI token. Behind the scenes, DAI is swapped for the relevant tokens (primarily stable coins and also NXM) and allocated into the relevant coverage pool. This allocation ratio is determined by the DAO. Every 2 weeks this process is repeated: new funds are deposited in and the DAO rebalances. Users can trade the BRI token on Uniswap or withdraw from the Index (and the BRI token will be burnt)

Read the Litepaper

BRIGHT INNOVATION

-> Investment in a bulk transaction to reduce gas fees per investment
->Diversified across 3 risk platforms and over 100 underlying protocols
->Backed by a real and sustainable business model (insurance), not just inflationary tokenomics


BRI TOKEN

The BRI token will always be backed by investments in the underlying risk pools. The value will increase due to fees paid by DeFi users buying insurance cover for their crypto assets

INVEST NOW
app.brightunion.io/provide_cover


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Discord Open / Comment

2022-02-10 19:40:07 Open / Comment

2022-02-09 21:28:12 bright_union (Twitter)

Upcoming activities are a bug bounty program
@ImmuneFi and a code audit by our partner Armors. After the audit we will ramp up the marketing activities to reach a wider audience.

Stay tuned!
Got questions about the Index?
Join us live on Twitter spaces: https://t.co/jM1KTtHu6K Open / Comment

2022-02-09 21:27:51 bright_union (Twitter)

As of today anyone can invest in the Index. As prudence is in our DNA, we will limit the investment at $5000 per user during the Public Early Access, as the Bright Risk Index is still in beta.

Get early access: https://t.co/36dVDBubsM Open / Comment

2022-02-09 21:27:28 bright_union (Twitter)

In January the BRI was available to a selected number of community members with Cobble & Boulder loyalty status (Private Early Acces phase). The BRI was tested with a TVL ~$70K and the APY was validated. Community feedback was implemented and token swapping routes optimized. https://t.co/qb2m8GsBD4 Open / Comment

2022-02-09 21:27:20 Open / Comment

2022-02-09 21:26:12 bright_union (Twitter)

The Bright Risk Index is open for early access!

We are determined to launch the BRI in a safe and prudent way. Therefor we have designed a phased release schedule.

Read more: https://t.co/JRQJfba4R8

#JointheUnion #BrightUnion #DeFi #Insurtech Open / Comment