We are happy to share with our community that we have been awarded a Solana Development Grant by the Solana Foundation to expedite the deployment of InsurAce.io on the Solana Network.
The Solana Grants Program helps new infrastructure projects, end-user applications, and everything in between launch to democratize the Internet and global financial system.
According to our roadmap, we are also planning to start integrations with other blockchains to expand our operations and offer higher quality insurance on-chain services to users.
Until now InsurAce.io has launched a BSC-Ethereum INSUR token bridge and insurance services on BSC mainnet following our initial launch on the Ethereum Network as the start of our multi-chain V2 expansion.
Solana will be the second blockchain in our multi-chain growth. You can find out more about BSC bridge here.
What are the benefits of partnership with Solana? We will build our own bridge to Solana (like ETH-BSC) where users can swap their tokens, add new staking for the Solana network and list more protocols based on the Solana network.
Cross-chain bridges expand the possibilities for users to move $INSUR tokens from one network to another. This function allows users to swap tokens to use for their cover purchases, staking and governance in different networks to reduce gas fees and use their network of choice. After adding the third network to our multi-chain bridge we will become the first DeFi insurance project with our own bridge to these 3 networks.
You can see bridge examples at our ETH-BSC bridge interface.
We are also working to add more blockchains like Fantom and Polygon. For now you can buy coverages for projects like Balancer V2 , mStable , Autofarm , SushiSwap V1 , QuickSwap that are deployed on these networks, but at present you will have to use the Ethereum Network or Binance Smart Chain to purchase cover.
For more information on how to buy cover, stake, and claim, please click here to view our User Guides.
We’re proud to be working with the Solana Foundation to deploy on the Solana Network, and we’re glad to have you along with us for this part of our journey.