DeFi
Athena Ins Introduces Decentralized Insurance for DeFi Risks
[PRESS RELEASE – PARIS, France, July 2nd, 2024]
Athena Insurance is transforming the decentralized insurance landscape with its advanced protocol, providing users with the means to insure themselves against the risks of decentralized finance (DeFi). This innovative platform allows individuals to purchase insurance coverage that protects their DeFi investments against various threats, including hacking, smart contract vulnerabilities, and stablecoin instability.
Unlike traditional insurers, Athena Ins operates via smart contracts, eliminating the need for centralized intermediaries and ensuring transparency and decentralization. Users can easily secure their deposits on DeFi protocols and receive compensation in the event of a covered incident, marking a significant step forward in the security and maturity of DeFi.
Main features of Athena Ins
Several features distinguish Athena Ins in the decentralized insurance market:
- Competitive bonuses: Rates are optimized by algorithms to remain affordable.
- Freedom of investment: Insurers select their risk groups based on their preferences.
- Take advantage of guarantees: Insurers can increase their exposure to benefit from higher return potential.
- Sustainable yields: Coverage costs are redistributed and the guarantee funds generate interest.
A strategic partnership with Angle (backed by A16Z) for the benefit of DeFi
Athena Ins has teamed up with Angle, a DeFi protocol funded by A16Z, to improve investor security. Through this strategic partnership, Angle users can benefit from innovative insurance offered by Athena Ins, providing protection against the risk of depegging of Angle’s native stablecoin, the USDA.
ATEN: The token at the heart of the Athena Ins ecosystem with multiple advantages
At the center of the Athena Ins ecosystem is ATEN, a versatile native token that plays a critical role in the functioning and evolution of the protocol. Much more than a simple cryptocurrency, ATEN gives its holders real decision-making power and significant influence over the platform.
ATEN holders are the main stakeholders in the governance of Athena Ins. Through a democratic and transparent voting system, they have the power to shape the future of the protocol by actively participating in strategic decisions.
From adjusting technical parameters to allocating reserve funds and major updates, every vote counts to build an ever more efficient decentralized insurance ecosystem that is tailored to the needs of the community.
A key role in the life cycle of insurance coverage
ATEN is essential for creating new insurance contracts on the platform. In addition, ATEN holders actively participate in incident management processes. They assess and validate claims, ensuring fair and transparent processing of claims.
A Deflationary Economic Model for Sustainable Value
The Athena Ins protocol incorporates an ingenious combustion mechanism that regulates the circulating supply of ATEN. During incident settlements, a deductible is taken from each reimbursement to purchase tokens and permanently remove them from the market by destroying them, thus creating deflationary pressure on the overall supply.
This approach aims to support the long-term value of ATEN and align the interests of holders with the growth and stability of the platform.
ATEN’s economic model has been carefully designed to support a sustainable and balanced growth of the Athena Ins ecosystem. A total of 3 billion tokens will be progressively put into circulation, strategically distributed among the different stakeholders.
The team, ecosystem, liquidity, advisors, rewards programs, as well as pre-sale and public sale investors, all play a crucial role in the development and mass adoption of the protocol. With transparent and fair tokenomics, Athena Ins lays the foundation for a thriving and sustainable decentralized insurance ecosystem.
The Arbitrum blockchain at the heart of the deployment
Although Athena Ins aspires to take a multi-chain approach, the protocol was initially deployed on the Arbitrum blockchain. This initial integration with one of the most mature and developed DeFi ecosystems facilitates the adoption and accessibility of the protocol.
Ethereum users can thus benefit from Athena Ins’ insurance coverage while keeping their assets on this leading blockchain. Other major blockchains like BNB Chain and Polygon have also been integrated.
Successful pre-sale and future projects
Athena Ins held a public presale that raised $375,000, with a second public token sale planned. While ATEN is not yet listed on an exchange, plans are in place for future listings.
Conclusion
With its smart decentralized insurance system and versatile ATEN token, Athena Ins is establishing itself as a key player in DeFi. Its innovative approach promises to make crypto investments safer and democratize access to on-chain insurance products.
About Athena Ins
Athena Ins is a decentralized insurance protocol designed to protect DeFi investments from hacks, stablecoin depreciation, and smart contract vulnerabilities. Built on the EVM blockchain, Athena Ins eliminates middlemen, automating claims management through smart contracts. Athena Ins presents itself as a complete solution to DeFi security challenges, offering innovative and transparent decentralized insurance. Its dynamic pricing, flexibility for liquidity providers, and robust risk management make it a key player in the DeFi ecosystem. Join Athena Ins to invest safely and with peace of mind in the DeFi sector. For more information, the user can visit www.athenains.io.
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