As part of our efforts to augment our insurance capacity, Uno WatchDog has evolved into a pioneering product within the DeFi sec
06 Sep 2023, 18:12
As part of our efforts to augment our insurance capacity, Uno WatchDog has evolved into a pioneering product within the DeFi security space.
Here's how that came about, and what we aim to do next: 🛠️
Our stalwart commitment over the years to establishing an industry standard for DeFi actors to guard against hackers and malicious entities led us to offer decentralized insurance solutions.
These coverage services successfully generated revenue for the protocol, it also led to the inception of a new opportunity.
By integrating our robust service, decentralized insurance, with various other security tools, we found a new way to scale.
This integration results in a comprehensive, highly customizable product that encapsulates our breadth of expertise — leading to the conception of Watchdog.
Blending services offered by Uno WatchDog, most notably Active Monitoring and Continuous Audits, has resulted in a potent solution that is easy to market to potential clients and revenue-generating for our protocol.
In addition, these security enhancements have helped decrease the risk exposure for clients and LPs.
However, as we aim to expand and cover more extensive protocols and actors, it became apparent that we must amplify our insurance capacity.
Thus, we entered a Mutual Partnership in a Quota Share Agreement with @NexusMutual .
This partnership allows us to utilize their untapped capacity while enabling us to reduce risks and broaden Uno WatchDog’s footprint.
The expanded capacity enables us to safeguard an increased number of protocols, both in terms of size and scale.
Consequently, this results in larger $UNO burns and more efficient revenue distribution for our LPs and governance participants.
This development enhances Uno WatchDog's potential to extend its reach within the DeFi ecosystem, while simultaneously reducing risks for our LPs.
Notably, this scale-up contributes to the growth of our protocol's revenue due to the improvement efficiency of our risk-averse, high-ROI services like Active Monitoring and Continuous Audits.
Considering the rising threats faced by top-tier DeFi entities, including escalating hacks and exploits, the need to strengthen Uno WatchDog has become incredibly urgent.
The necessity for extensive security measures is now more apparent than ever before. 📢
We are excited to witness the ongoing progress of Uno WatchDog and eagerly wish to collaborate with industry colleagues to bolster security across the sector.
Feel free to suggest protocols that you'd like Uno WatchDog to safeguard next, allowing you to enjoy your favorite platforms with enhanced safety.🔐