Tidal Finance, programmable decentralized finance (DeFi) insurance solution provider, and Reef Finance, a liquidity aggregator, have come together to bring innovative smart contract insurance solutions. Tidal Finance expressed delight in joining forces with Reef Finance through its Twitter handle, mentioning that the allies intend to present the decentralized smart contract insurance products to its users.
In a blog posted by the Tidal Finance team, the alliance will now make ways to secure smart contract products that users can take advantage of. Its strategic partner is a well-known name in the liquidity solutions space. Reef Finance is known to provide Artificial Intelligence-based yield generators and has a competitive edge in CEX and DEX liquidity solutions.
Chad Liu, the co-founder of Tidal Fiance, was thrilled with the strategic collaboration and pointed that it will take DeFi solutions to the next level. On the other hand, Denko Mancheski, CEO at Reef Finance, expressed his view on the alliance and mentioned it would introduce the most robust and unhackable protocols beneficial for customers. The partnership will ensure that risks are evenly distributed through a wide range of protocols present within the system, preventing any similar hacking instances from taking place in the ecosystem.
Tidal Finance assured its loyal user base the company would keep introducing new collaborations to ensure the smooth applicability of its protocol and drive value-added solutions across its infrastructure. The partnership opens a new room for delivering innovative and secure smart contracts based on the DeFi network, thereby introducing innovative risk-management strategies. The blog also explains the rationale behind the strategic alliance. It states that hackers have been prying on the system which proves to be a big hindrance to the DeFi ecosystem’s growth. Hence, the alliance looks forward to eliminating the threat that is shunting the progress of smart contract insurance solutions.