Avalanche Ecosystem Insurance Protocol Degis Closed $3 Million Funding Round with Avalanche Blizzard Fund and Others

TokenInsight news, Degis, an insurance protocol on Avalanche, has closed a $3 million angel and seed round with participation from Avalanche Blizzard Fund, Avalanche Asia Star Fund, GBV and others. Degis is an Avalanche-based DeFi insurance protocol, incubated by HKUST Crypto-Fintech Lab and backed by Avalanche Foundation, which aims to provide users with comprehensive and multi-dimensional insurance products, including token price insurance, impermanent loss insurance, smart contract insurance, etc. The protocol features an automated claims process and centralized insurance liquidity compared to existing DeFi insurance protocols. In addition, Degis will IDO on March 7 and will open IDO registration on Avalaunch on March 2.