InsurAce (www.insurace.io) is very excited to announce a new strategic partnership with 88mph (88mph.app). Users of 88mph will now have the ability to insure their staked assets against risks of smart contract hacks and bugs.
88mph is an ethereum-based protocol allowing users to opt between fixed-interest rate bonds, floating-rate bonds, or zero-coupon bonds. At the time of writing, they have over $45million TVL on their platform.
Users of 88mph enjoy fixed-rate interest on their crypto and MPH rewards, which can now be insured through InsurAce with one of the lowest premiums on the market, ensuring a low-risk fixed return on their investment.
88mph is one of the earliest protocols covered by InsurAce, and both teams have been working closely over the past few weeks to bring this to the 88mph users.
“We’re very excited to be working with 88mph, it is a very exciting project with a lot of potential, and we can offer their users competitive insurance for their assets. The fixed-rate interest model of 88mph helps to further stabilise DeFi, and with coverage from InsurAce reduces any risks further which will inevitably lead to larger institutions adopting DeFi.” Oliver Xie, founder InsurAce.
This partnership with 88mph comes as part of the wider roadmap for InsurAce, working with the right protocols to build sustainable growth, and offering industry-beating insurance services.
88mph is an Ethereum protocol allowing you to lend your crypto assets at a fixed-interest rate. By doing so, you earn $MPH rewards and protocol’s revenues.
You can think of 88mph as a deposit account with which you earn a fixed income and the bank rewards you with loyalty tokens ($MPH) giving you shareholders rights like cash dividends and governance power. At the end of the day, you truly own the bank.