TokenInsight news, Neptune Mutual, a multi-chain decentralized cover protocol, has closed a $1.75 million seed funding round led by Fenbushi Capital with participation from Coinbase Ventures, Huobi Ventures, OKEx Blockdream Ventures and others.
Neptune Mutual uses parametric cover models to protect user funds from exploits of cryptocurrency exchanges, custody providers, and smart contracts. The protocol does not require claims assessors, or any other middlemen, for claims processing. As soon as cover rules are met and resolved, claims result in an instant settlement.
