CoverCompared is launching on Polygon to insure your assets!
CoverCompared will now be offering insurance for assets within the Polygon Network
We are delighted to announce that CoverCompared, the world’s first DeFi insurance aggregator for traditional and crypto products, will launch on one of the fastest-growing blockchain networks — Polygon.
Our vision was always to be one of the largest multi-chain insurance aggregators in the world, and we are now taking our first step towards this by offering insurance on both the Ethereum and Polygon chain to protect your assets from unpredictable vulnerabilities.
Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Aggregating scalable solutions on Ethereum supporting a multi-chain Ethereum ecosystem.
What does this mean?
Polygon offers better scalability and better efficiency in transactions. Polygon uses its own Proof-of-Stake (PoS) blockchain and Commit Chain connectivity to help scale the Ethereum network, and seeks to solve inefficiencies that may hinder widespread adoption of blockchain technology. To summarize, the primary benefits inherent to the Polygon blockchain are:
- Considerably lower transaction fees
- Extremely fast transactions per second
- Can scale and offers staking rewards
- Great for decentralized finance apps
Our launch on Polygon’s network will not only provide CoverCompared access to a wider community but will also create significant benefits for Polygon users. The CoverCompared marketplace will now also offer insurance for products operating on the Polygon blockchain. Moreover, this option to buy added protection and security will enhance investment safety and lead to a consequential increase in Polygon’s market popularity.
Providing the needed insurance to protect users digital assets against unprecedented events will only help further provide assurance in safety to them that will promote growth for both communities.
The future of CoverCompared
As we take our first step towards becoming a multichain aggregator, we would like to thank our community for the consistent support. We assure you that we will continue to bring about a newfound era of innovation in the insurance market and be the first platform of its kind to offer a democratic safety net to all.
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 3000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
CoverCompared is the First DeFi insurance marketplace for the global crypto ecosystem. We aim to lower transactional and administrative costs of insurance policies and coverage while providing high-value, cost-effective insurance products bought using a host of cryptocurrencies.
Our platform will be connecting users with multinational insurance providers for all global insurance products such as crypto-related protection, health, life, and travel policies. The platform will include a frictionless insurance marketplace experience that incorporates next-generation blockchain technology and tokenized incentives.