Insurance (DeFi)
Insurance in DeFi (Decentralized Finance) functions as an additional layer of safety for crypto investors as it protects investors from financial losses resulting from theft or fraud.
Decentralized insurance applications use smart contracts for establishing the connection between the client and the insurance provider. These products range from smart-contract insurance to wallet insurance, safeguarding assets in case of a hack or a bug, and creating peace of mind for cryptocurrency investors, thereby covering their increasing risk appetite.