PolkaCover was founded in August of 2020 and we’ve grown exponentially since our inception — we want our brand to reflect more of what we are today than what we were a year ago, which is why we’ve made the executive decision to transition our name and brand identity.

Our network has widened to include providers in several different sectors of Insurance and the variations in the types of products we will give the community access to has also increased tremendously. Though our original pursuit of creating a safe and secure ecosystem for crypto-holders around the world remains the same, to better reflect our growth, convey our differentiation, and induce greater brand awareness, we believe that it is time for a revamp — thus, PolkaCover will now officially be renamed to CoverCompared.

Why the change?

We have come a long way in the last year. When we developed our platform and outlined our vision, it was to be an insurance provider that offered traditional and crypto products. However, as we’ve reflected on all that we’ve achieved in the past year, we’ve realized that our vision has metamorphosed into something that’s rather more cohesive as well as well-rounded.

As we have grown and acquired more partners, our goals have grown as well. We believe this is a new era for our protocol and we want our new brand to represent the pillars that CoverCompared is built on — transparency, inclusivity, and honesty.

When we created PolkaCover, we envisioned operating on the PolkaDot blockchain which was one of the main reasons behind naming our brand PolkaCover. However, due to unforeseen delays as well as a lack of a definitive launch timeline, we’ve decided to build and launch our own platform on the Ethereum blockchain for now. Moreover, we’ve also made the decision to be much more than merely a single chain insurance aggregator — we will expand our operations to offer insurance on multiple blockchains and become one of the largest multichain insurance aggregators in the world.

Polkacover represented a network that provided traditional and crypto products that could be purchased with either crypto or fiat currency. CoverCompared is much more than that. CoverCompared is more inclusive, an insurance aggregator that offers not just crypto-specific covers, but the first ever global insurance marketplace that builds a bridge between the traditional and crypto world. On CoverCompared, users can purchase insurance policies for not just Smart Contract Covers, CEX Covers, Wallet Hacks, etc. but also Life, Health, Travel, and Electronics using crypto currencies.

Why “CoverCompared”?

We believe “CoverCompared’’ better demonstrates our values and offerings. CoverCompared is the world’s marketplace that offers traditional and cryptocurrency insurance products, all available for purchase through a host of cryptocurrencies. CoverCompared is dynamic, unique, and fresh — and will be the new face of our brand.

A big thank you to our community!

As we embark on a new journey, we would like to specially thank our extremely supportive community. The support we have received has enabled us to grow at an exponential rate and create a unique, one-stop-shop insurance marketplace that caters to all insurance needs a user might have. With the advent of a fresh chapter in our story, we are confident that we will continue to experience sustainable growth as a pioneer in the world of cryptocurrency insurance and soon become a universally accessible multichain insurance aggregator. Thank you for all the support and we look forward to continuing on this journey with you!

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The First DeFi Insurance marketplace for the global crypto ecosystem