Uno Re is a Decentralized Insurance Platform that launched the Cover Portal in April 21, 2022. Accessible through Uno Re’s dApp, the Cover Portal addresses an underemphasized need in DeFi space: easy access to insurance. For the first time, DeFi users can insure their crypto-assets in a few simple steps thanks to Cover Portal’s clear and simple UI.

DeFi Space is at risk of hackers attacking and creating severe financial losses for both protocols and users. The total sum lost to hacks in the first quarter of 2022 is up 695% from Q1 2021’s losses. The DeFi space has been subject to increasing attacks, both in terms of severity and number. Skepticism is on the rise.

Uno Re is a major player in DeFi Insurance. They launched their Cover Portal, which aims at granting users quick access to insurance coverage using its easy-to-use UI.

What is Uno Re’s Cover Portal?

Cover Portal is Uno Re’s latest dApp – scanning users’ wallet, detecting insurable assets within as well as staked in staking and farming pools across chains, measuring possible risks using an AI-based algorithm, and allowing users to secure their on-chain assets instantly.

Cover Portal optimizes insurance buying experience by simplifying as many steps as possible. Connecting to their wallets and finding their insurable assets allows users to choose which token(s), and how much they want. Cover Portal makes it possible to pay your premiums in USDC.

“The launch of our Cover Portal marks the beginning of a new era in the DeFi insurance industry. To make DeFi customers’ lives easier, we have been continuously improving and building our platform. Cover Portal represents the final step to realizing our potential. This makes our platform an ecosystem of many services and mechanisms that work like clockwork. We are delighted to have achieved this and look forward to improving the overall security of DeFi space.” stated Jaskanwar Singh, CEO, and Co-founder of Uno Re.

What’s Uno Re?

Uno Re is responsible for Cover Portal. Uno Re, an insurance provider that DeFi users can use and a partner for many DeFi platforms, provided payment to Umbrella Network victims who were hacked in March 2022. Uno Re was the insurer and processed the claim quickly to ensure that the 91% affected wallet addresses received compensation.

Uno Re

Uno Re is the world’s first decentralised insurance and reinsurance platform, allowing the community to invest and trade in ‘risk’ and receive sizable returns on their investments in one of the safest asset classes in the world. This platform removes the need for excessive capital to enter the market. It also introduces much-needed transparency and will reduce barriers of entry to retail investors. Uno Re will allow members to create innovative Insurtech products and help propel a new generation.

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