Buy Bridge Mutual (BMI)

What is Bridge Mutual?

Bridge Mutual is a decentralised, discretionary insurance platform designed to provide coverage for smart contracts, stablecoins, exchanges, and more, within the cryptocurrency and DeFi ecosystem.

How does Bridge Mutual work?

Bridge Mutual functions as a decentralised marketplace where users can provide coverage by staking stablecoins and earning yields in BMI tokens. Customers can purchase discretionary insurance coverage for various crypto assets and platforms. The platform utilises smart contracts to manage insurance pools, coverage specifics, and claims assessment in a transparent and decentralised manner, without requiring KYC processes.

What are the potential use cases for Bridge Mutual?

Bridge Mutual can be employed for various purposes, such as:

• Providing insurance for DeFi protocols, smart contracts, and stablecoins to protect against risks like hacks or failures.
• Ensuring holders against stablecoin risks, especially those with substantial investments.
• Facilitating cross-chain insurance across multiple blockchain networks, enhancing security for widespread crypto assets.
• Offering leveraged portfolios to insure multiple assets or protocols in a cost-efficient manner.

What is the history of Bridge Mutual?

Bridge Mutual was founded by Mike Miglio and Lukas Napiorkowski, motivated by the idea of creating a permissionless and privacy-centric insurance platform. It launched in July 2021, quickly accumulating over $30 million in total value locked (TVL) and settling its first coverage claim soon after. The platform expanded to the Solana blockchain and has focused on becoming a multichain solution with integrations into different blockchain systems like Binance Smart Chain and Polkadot. As a DAO-governed platform, Bridge Mutual continues to grow within the crypto insurance market, improving its offerings and technology.