Development of DeFi Insurance
BSPL is a complete Decentralized Finance (DeFi) development business to take traditional finance completely blockchain-enabled, primarily on the Ethereum platform. Our DeFi solutions enable users to conduct peer-to-peer financial activities, such as lending, borrowing and trading, without the need for central authorities.
We build a variety of DeFi applications, such as lending platforms, stable coins and tokenized assets like BTC, for, individuals, developers and financial institutions. BSPL focuses on advanced DeFi use cases, and builds synthetic assets, decentralized exchanges (DEXs) and flash loans.
As DeFi further disrupts and decentralizes the global banking system, our focus is to ensure every platform we build is secure and scalable for consumers as well as user friendly and robust enough to facilitate the future financial infrastructure.
The Benefits of Building DeFi Insurance Platforms
Our team will make sure that your smart contracts are properly audited to allow for the safe, reliable, and smooth operation of your existing or new DeFi insurance services, reducing the risk of vulnerabilities and exploits.
Your platform will utilize top-tier cyber security protocols to track and protect your platforms from potential hacks, breaches, and other unauthorized access in order to protect the integrity of your assets and allow your users to use the platform with trust.
Our DeFi Insurance systems will be programmed to provide the user with a very high degree of automation so as to minimize your manual operations when lending/borrowing/trading, to enhance the efficiency and usability of your platform.
Users of your system will have access to real-time, transparent conditions surrounding every transaction. This information is critical and instills trust and accountability throughout your platform.
We will help you create tokens so your company can launch either their own ERC-20 or custom tokens to serve your objectives.
Your platforms will allow swapping between ERC-20 tokens as needed, allowing for a great user experience as there is more liquidity for swaps using DeFi.
We will offer insurance solutions that will present options to insure users' crypto wallets and or digital assets, addressing user loss of crypto or digital assets due to hacks, or technical malfunctions.
We will provide assurance of collateral for crypto-backed loans, thereby reducing risk from fluctuations, and protecting user's assets.
All of our systems have governance structures to allow token holders to vote on significant platform decisions and promote growth through contributions from the community.
The claims management system we provide is simple and straightforward, allowing users to submit, track and settle insurance claims through the DeFi platform.
DeFi Insurance Platform Development Services We Offer
We deliver full-stack DEX software development solutions customized according to your specific business needs. Our services allow you to produce a feature-rich, safe, and customizable decentralized exchange platform.
This service insures risks for your crypto assets in the event of theft or hacking, which covers all transactions and digital assets within your crypto wallet and helps users recover from unforeseen losses.
We insure vulnerabilities that might occur in smart contracts including hacks and permanently lost funds providing peace of mind to users when participating in DeFi activity like lending and borrowing.
This insures the collateral used in crypto-backed loans against theft, destruction and market risks—essentially providing security for loan providers and protection for borrowers.
How our DeFi insurance platform works?
The first key principle that underpins our DeFi insurance platform is its decentralised nature. Coverage is provided by a distributed network of liquidity providers, rather than by traditional insurance companies. These liquidity providers contribute funds to a capital pool that suit their preferences for insuring DeFi protocols or types of risks. For example, a provider could contribute liquidity to a pool that covers a specific trading platform and capitalise on the trusted nature of that DeFi protocol.When end-users purchase insurance for specific DeFi risks such as hacks, bugs, or platforms failing, any valid claim is taken from the pool of capital contributed by liquidity providers. Liquidity providers earn interest, and receive premiums from the insured participants, which creates the opportunity for a fair return while insured users take on some risk.
The process described above operates using decentralised protocols (in many cases), so it is transparent and fair. The governance of claim approvals, capital pool management (for respective DeFi insurance contracts) and oversight, takes place in a decentralised and fair manner, whereby the community makes the ultimate decision. This decentralised nature builds trust in the system, and provides a flexible, transparent and scalable insurance model that can evolve with the fast moving DeFi landscape.
Advantages of Developing DeFi Insurance Platforms
The user is assured against risks and vulnerabilities of DeFi protocols, securing their funds despite unexpected failures.
Better able to protect funds against extreme volatility and flash crashes, the platform will instill a larger lick of confidence in users swaying them to participate by committing funds; improving liquidity in DeFi.
In emergencies, users can redeem tokenized crypto assets for required cash quickly and easily, allowing the user continued liquidity, access to their money, and running cash flow.
Users will be ensured in cases of hacked exchanges, so they’re reimbursed for any money lost, quickly.
The users will be insured against both business failures in addition to financial challenges or issues while engaging with DeFi in the manner they wish for a comprehensive layer of protection.
Claims will be resolved and paid out quickly to the user because the claim was verified and therefore doesn’t require further review or the long waits accompanying resolutions to their claim.
Claims and risk assessments are contractually smart and therefore in a decentralized system, and trustless manner with no central internal authority.
A beneficiary will be ensured if users’ wallets are hacked or stolen while they’re secured. Provides strong assurance to users, and that their funds will be secured.
Why Choose BSPL for DeFi Insurance Platform Development?
BSPL is a trusted name in DeFi insurance platform builds, bringing strong experience with blockchain and decentralized finance. BSPL will design and build custom solutions centered around security, transparency and operational efficiency, effectively offering reliable insurance against volatility in cryptocurrencies, theft of crypto wallets and hacks on third-party exchanges.
We pair technical excellence with innovation for scalable and future-ready solutions that evolve with decentralized finance technology. Our trustless claims processing results in quick payouts so that users have quick and reliable experiences.
When working with BSPL for a DeFi insurance platform build, you will work with an organization that is committed to building a secure, user-centric, and still resilient insurance platforms that will build trust, and stabilize the decentralized financial space.
