How iTrust Finance is scaling on-chain insurance

iTrust is the first of its kind, a Layer 2 return aggregator for decentralized insurance. Users of decentralized insurance companies have the opportunity to use DeFi denisk by generating a passive return with their insurance tokens.

The rise of smart contracts has attracted thought leaders willing to innovate at every turn. However, with northern $ 60 billion tied up in the DeFi area, it has attracted scammers alongside investors. Since nearly three quarters of all DeFi hack logs have been pre-screened, more derisking options need to be implemented in the logs.

One of the most exciting ideas emerging from the rise in smart contracts is removing the middleman from insurance. With Nexus Mutual’s protocol, you can receive offers to protect you from wallet hacks and protocol errors, as well as switch to stable tokens in the event a yield token fails. There are plans to use Oracle technology to insure against real events, but there are many steps to be taken.

By staking the Nexus Mutual native Token (NXM), you can get a decent return by providing liquidity for the insurance company that sells the protocol. However, the decentralized insurance sector comprises only 2% of the total value locked in DeFi. Additionally, the growth of the market leading insurance protocols is limited to the number of participants who use their tokens for the protocol. The decentralized insurance protocol urgently needs more staked liquidity to increase the affordability of premiums and the ability to cover insurance claims. iTrust is trying to fix this.

iTrust The Vault

Similar to Yearn.Finance, iTrust uses vault zapping algorithms to scan smart contract logs and assess the current risk and benefit of each log. The goal of iTrust Finance is to dynamically move your funds to the lowest risk income generation protocols.

A major hurdle with the new DeFi protocols is their ease of use. iTrust has created a very simple layout and user-friendly interface that allows the user to delegate funds to staking, keep insights into withdrawn and unsettled funds, and get a whole new window for rewards. Striving to maintain a strong user interface while creating a new log is paramount to success.

iTrust has developed a dynamic investment vehicle that increases coverage and exposure to low risk pools of returns. This format of DeFi investment is an effective workaround to avoid pools that get hacked or rugged.

The iTrust Finance token is $ ITG and when it is staked or mined the rewards are distributed as ITG tokens.

Power supply from Nexus

The very first partnership for iTrust, of course, is Nexus Mutual, the leading decentralized coverage provider in the space.

When iTrust is launched, users have the option to participate in an index of Nexus Mutual Risks or in a low risk, maximum reward pool. Along with the native $ ITG token, iTrust will distribute rewards to $ NXM and $ wNXM holders and encourage users to add liquidity to the Nexus ecosystem.

By implementing new rewards in an existing Nexus staking protocol, iTrust is increasing Nexus’ presence and intending to bring more exposure to the entire decentralized insurance market. As the premier platform to combat risk reduction in decentralized insurance, if you believe in the ethos of decentralizing more aspects of your life, iTrust is well worth diving into.

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