ShapeShift Publishes Report On Emerging Field Of Decentralized Insurance

DENVER, April 27, 2021 /PRNewswire/ -- ShapeShift, an international, non-custodial cryptocurrency leader, released a new report in their "New Frontiers" series called "Spreading the Risk: Decentralized Insurance." Each month, more money is locked into decentralized finance (DeFi) vehicles; and while many of these vehicles provide returns that outpace traditional finance avenues, there is an undeniable level of risk inherent in these irreversible transactions and emerging projects. The report reviews two emerging decentralized applications (which are not affiliated with ShapeShift): Nexus Mutual and Cover Protocol, insurance vehicles created to help limit downside exposure to risk, as well as the potential downside of the insurance applications themselves. It also takes a forward-looking view into other projects to watch in the future.

"DeFi is gaining momentum, and we think that is an extremely positive trend," said Kent Barton, head of research and development of ShapeShift and author of the report. "The decentralized, community aspect of DeFi has meant that it lacks many of the risk reduction features of traditional financial avenues. However, the DeFi community itself is coming to the rescue by creating a decentralized solution. It's an emerging field that is worth continuing to watch."

RESOURCE: Download New Frontiers—Spreading the Risk: Decentralized Insurance

About ShapeShift
Since 2014, ShapeShift has been pioneering self-custody for digital asset trading. The company's web and mobile platforms allow users around the world to safely buy, hold, trade and interact with digital asset platforms such as Bitcoin and Ethereum.

Learn more at ShapeShift.com.

Media Contact:

Media Relations
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SOURCE ShapeShift

Related Links

https://shapeshift.com/

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