[PRESS RELEASE – Please Read Disclaimer]
Relite Finance, a cross-chain lending protocol, has announced a strategic partnership with Nsure.Network, an industry-leading DeFi insurance platform. The collaboration is aimed at providing Relite with additional security options, along with adding its native utility token- RELI – to Nsure.Network insurance marketplace. Once the latter step is completed, RELI holders will have the opportunity to cover their funds from the loss risks caused by the market price fluctuation.
Apart from the upcoming listing, Nsure.Network and Relite have launched the $RELI smart contract analysis. Relite will be listed on the Nsure network platform through a decentralized voting procedure. The insurance price and capacity will be determined in real-time by the supply of capital and insurance demand, in accordance with the dynamic pricing model utilized by Nsure.Network.
Further details of the collaboration will be revealed during the joint AMA session, scheduled for Monday, September 13th.C-level speakers from Relite and Nsure.Network will highlight the major steps of this promising collaboration and answer questions from both communities.
Jeff Ren, the co-founder of Nsure.Network, has emphasized the long-term prospects of this cooperation.
“Nsure Team is delighted to team up with Relite Finance on exploring every aspect to get its users’ funds protected. We are happy to start and carry on the research and execution towards a more secured Defi space.”
George Groshkov, the Relite CEO, was also very optimistic, while welcoming this significant partnership.
“We are proud to have Nsure.Network as a new significant partner providing additional security coverage for $RELI, and, therefore, the whole Relite ecosystem. We’re headed toward transparency & sustainability within the Relite protocol, we couldn’t have a better collaboration to announce just several weeks before the Relite MVP launch” – he stated.
About Relite Finance
Relite Finance is a cross-chain DeFi money market protocol that enables users to lend, borrow, and stake all crypto assets in one interface by utilizing Polkadot’s Moonbeam Parachain, bridges, and a unique reserve fund module. Relite plans on creating interoperability with Bitcoin, Ethereum, and other blockchains. In addition, Relite plans to implement collateralization of NFTs with better fees and usability than other protocols can offer.
About Nsure Network
Nsure is an open insurance platform for Open Finance (DeFi). The project is inspired by Lloyd’s of London, a market place to trade insurance risks, where premiums are determined by a dynamic pricing model. Capital mining is implemented to secure the capital required to back the risks at any point of time.