Integration Partnership: Bridge Mutual <> HYVE
As promised, we are now moving forward at a much faster pace than before, and this means we will start onboarding new Ecosystem Partners (see WeAdmin) and new Integration Partners, such as Bridge Mutual.
What is Bridge Mutual?
Bridge Mutual is a decentralized, p2p/p2b discretionary risk coverage platform that provides coverage for stablecoins, centralized exchanges, and smart contracts. The platform allows users to provide coverage, decide on policy payouts, as well as share profit, and get compensated for adjudicating claims.
Below you can find a walk-through of how the normal claim assessment process takes place on Bridge Mutual.
The entire idea is that any task on HYVE can be covered as long as people are willing to pay the necessary premium to cover that specific task/contract. After the coverage is purchased, in the case of a claim, the process described above is followed.
Bridge Mutual & HYVE
In short, we will be integrating Bridge Mutual inside of HYVE to offer Coverage for tasks.
To be specific, let’s say user A posts a task for $10K, and user B will then solve it.
User A can choose to pay a premium to buy Coverage for the $10K task and in case anything happens to the money locked in the smart contract, as long as the contract is covered then the money cannot be lost.
Furthermore, the HYVE team is currently considering offering a coverage pool in DAI for potential claims made on the HYVE platform. This is in addition to any coverage offered by users.
“We are very happy to integrate Bridge Mutual into HYVE, as we think that providing the possibility of getting coverage for specific tasks and/or contracts is very much necessary to offer a truly safe environment for freelancers to work together without worrying about anything else other than their jobs.”
— Tudor Stomff, CEO of HYVE
“Hyve’s take on the future of freelancing and contract work is as radical as Bridge Mutual’s vision on the future of insurance. We’re ecstatic to be collaborating with visionaries of this caliber, the fact that there’s so much synergy between our ecosystems is just icing on the cake. Looking forward to seeing what we can do to provide coverage to the value pools of tomorrow’s workforce.”
— Mike Miglio, CEO of Bridge Mutual
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🏦 Want to learn more about Bridge Mutual?
🐦 Follow them on Twitter.
🗨️ Join their Telegram Group.
💡 Visit their Website.