San Francisco, CA — Quantstamp, a world Web3 safety chief, is proud to introduce DeFi Safety, an revolutionary safety answer designed to reimburse customers within the unlucky occasion of DeFi losses.
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Decentralized finance (DeFi) hacks have been a persistent problem and a big impediment to mainstream adoption. As reported by Forbes, hackers have exploited DeFi protocols practically 500 occasions, leading to losses exceeding $6 billion since 2019. These incidents have taken a toll on DeFi customers.
Quantstamp’s newly launched DeFi Safety service is poised to supply DeFi lovers peace of thoughts whereas safeguarding their property.
DeFi Safety is a complete safety product that not solely assesses the security of sensible contracts and notifies customers of potential threats but in addition offers round the clock help from safety auditors. Most significantly, the service features a assure program that guarantees to reimburse DeFi Safety customers for any losses attributable to gaps in Quantstamp’s safety companies.
To enroll in this system, customers can merely select the protocols they want to defend, specify the safety period and most reimbursement quantity, and make their fee in USDC.
On the launch, DeFi Safety will cowl protocols equivalent to Aave, Compound, Curve, Lido, and Uniswap, with plans to increase to further protocols within the close to future. This initiative is made potential by way of a partnership with Chainproof, a regulated main insurance coverage supplier for sensible contract and slashing dangers, and its insurance coverage expertise associate, Tint.
Notably, the assure program operates underneath the regulation of the North Carolina Division of Insurance coverage, making it the primary program that’s legally accessible to United States residents. Customers might want to bear KYC/AML verification through Quadrata, a web3-native answer, to verify their U.S. residency earlier than subscribing.
Sebastian Banescu, Head of Insurance coverage for Quantstamp, emphasised, “Whereas sensible contract audits present a significant layer of safety, they’re only one side of the equation. Further measures are crucial to make sure the security of consumer funds. That is exactly why we developed DeFi Safety – to help customers in recovering their losses.”
Along with its core enterprise of sensible contract auditing, Quantstamp stays dedicated to exploring revolutionary strategies to reinforce the safety of blockchain corporations and their customers.
For additional particulars about DeFi Safety, please go to DeFi Safety.
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About Quantstamp
Quantstamp is a world chief in blockchain safety, devoted to securing the way forward for web3. Established in 2017, the staff has accrued huge experience by way of quite a few audits and collaborations with a few of the trade’s prime tasks, together with Maker, Compound, Polygon, Arbitrum, Sandbox, and plenty of others.
To this point, Quantstamp has performed over 700 audits and safeguarded digital property exceeding $200 billion from cyber threats. Along with providing a big selection of safety companies, Quantstamp helps the expansion and sustainability of the web3 ecosystem by way of strategic investments and advisory roles.
To be taught extra, go to our web site at Quantstamp.com or observe us on Twitter @Quantstamp.
