SOTERIA MUTUAL COOPERATES WITH DVP TO PROMOTE SAFETY IN THE BLOCKCHAIN WORLD
Soteria Mutual has entered into a strategic partnership with DVP (Decentralized Vulnerability Platform) with the aim of promoting safety in the nascent blockchain industry. Recent developments in the blockchain industry have seen tremendous growth in applications based on smart contracts and custodian services. For many developers, it is a daunting task in getting access to top-of-the-range and affordable security services for their projects. DVP allows projects to leverage security techniques of thousands of White Hats around the world to comprehensively and efficiently test blockchain-based projects. Not only are blockchain-based projects able to customize the nature of security services they desire, they only pay for services in the event of a loophole being found.
The growth in Custodian Services and DeFi in recent times also creates concern for users who lock their cryptocurrencies. As Total Value Locked (TVL) in DeFi projects continues to increase, they become targets for malicious actors. Soteria Mutual gives investors a peace of mind by purchasing insurance cover for their favourite projects. Soteria Mutual has a fair and transparent process for claims assessment and investors can rest assured there is proof of funds to cover the insurance packages they purchase.
Soteria Mutual and DVP have teamed up to give all stakeholders in blockchain-based projects pieces in the puzzle required for enhanced security which fosters trust and reliability. “We are excited with our strategic partnership with DVP. It is our firm belief that the blockchain industry will play major roles in creating innovative products and services that are accessible to everyone. Safety and security are critical components in blockchain-based projects and we are excited about the opportunity our strategic partnership creates in enhancing safety for blockchain-based projects”- Yevnen, Community Initiator of Soteria Mutual.
ABOUT SOTERIA MUTUAL
Soteria Mutual is a decentralized alternative to insurance and is the first mutual (a risk sharing pool) on the Binance Smart Chain (BSC) which utilises blockchain technology to create a platform which returns the power of insurance to the people. It allows anyone to become a member and buy cover, and greatly diminish or reduce the financial risk of hacks. It replaces the idea of a traditional insurance company, because it is wholly owned by the members. The model encourages engagement as members receive economic incentives for participating in Risk Assessment, Claims Assessment and Governance.
Soteria Mutual provides insurance for losses caused by vulnerabilities in smart contracts and hacker attacks, and risk protection for DeFi products. Soteria is a community-based insurance platform. By staking tokens, users are both gainers and risk bearers. At the same time, token holders can use the tokens they hold to determine how much insurance coverage a project can have and whether to approve claims. Currently, Soteria Mutual provides insurance cover for 36 projects on BSC and the list keep growing every month.
Websites:
Telegram: https://t.me/SoteriaMutual
Twitter: @SoteriaFinance
ABOUT DVP
DVP (Decentralized Vulnerability Platform) is an international community of information security professionals (White Hats). By using the blockchain technology and token-incentive schemes, it endeavors to establish an anonymous security crowd-testing community, follow the core concept of vulnerability as mining, and create a decentralized information security platform, so as to safeguard the digital information industry.
DVP runs a bug bounty program, which is a security crowd testing wherein blockchain firms can benefit from the program by posting bounties online and having thousands of white hats providing 7x24 security testing services around the world, which endows them the initiative to deal with security incidents.
DVP maintains the anonymity of blockchain by paying bounty rewards with cryptocurrencies. And, all rewards are paid to the white hat (the personnel who submitted the loophole).
Website: https://dvpnet.io/
Twitter: @dvpnetio
Telegram: https://t.me/dvpnet
