Bridge is a decentralized, discretionary insurance application built on Ethereum. It allows users to provide coverage to smart contracts, stablecoins and exchanges that they think are safe in return for yields and profit sharing. Likewise, it allows other users to purchase coverage policies against those same that provides coverage for stablecoins, centralized exchanges, and smart contracts. Its platform allows users to provide coverage, decide on claim payouts, as well as get compensated for taking part in the ecosystem. Both claims assessment and investment of funds are on-chain and audit-able by the public. All claims go through a 3-phase voting process that is enforced with rewards and punishments, ensuring a thorough process for every claim.
Bridge will revolutionize traditional insurance, which is unfair and litigious due to its lack of transparency and misalignment of incentives.Moreover, bridge is more efficient than traditional insurance companies, and does not require branch offices, claims specialists, or agents to work.The turn-around time for claims and voting is predictable and is always under 6 weeks, regardless of the size of the claim.
