- 1 Overview of Bridge Mutual
- 2 Blockchain
- 3 Network
- 4 Support
- 5 Are Bridge Mutual smart contracts audited?
- 6 Are you ready for what’s next?
- 7 Does Bridge collect Passports or Government IDs?
- 8 Does Bridge Network or anyone control my funds?
- 9 How are claims handled?
- 10 How can I join the Bridge community?
- 11 How do I buy Bridge Mutual?
- 12 How do I start earning BMI?
- 13 How do users make a claim?
- 14 How Does Bridge Mutual Operate?
- 15 How is Bridge governed?
- 16 How is the BMI token price determined?
- 17 Is there a lockup period or withdrawal delay for BMI rewarded to me?
- 18 Stock Buybacks: Why Would a Company Reinvest in Themselves?
- 19 What Is a Bridge Loan?
- 20 What is Bridge Mutual?
- 21 What is Bridge Mutual?
- 22 What is Bridge Mutual?
- 23 What is MassMutual’s HealthBridge program?
- 24 What is stopping voters from fraudulently denying a valid claim?
- 25 What is the value of Bridge Mutual?
- 26 What kind of coverage can be purchased on Bridge?
- 27 What Makes Bridge Mutual Different?
- 28 Where can I get Bridge Mutual wallet?
- 29 Who are the top 10 Investment Companies?
- 30 Who is allowed to use Bridge?
- 31 Why Polkadot and not Ethereum?
- 32 Why should I provide coverage?
- 33 Why was Bridge Mutual Built?
- 34 Will the BMI token be listed on exchanges?
- 35 History of Bridge Mutual
Overview of Bridge Mutual
“This partnership will give both organizations the ability to expand operations into the other’s platform, a net benefit for two strong projects looking to optimize the DeFi market as a whole.Ease of use and access to insurance ultimately benefits users.By working together, Bridge Mutual and Plasma Finance take DeFi a step forward towards more reliable financial services on the blockchain,” said Ilia Maksimenka, CEO of PlasmaPay.
“Being able to offer another quality a decentralized risk management solution like Bridge Mutual’s on Orion Protocol highlights our ongoing determination to provide the best security and protection for Orion Terminal users.” – Alexey Koloskov, CEO and Co-Founder of Orion Protocol.This follows security partnerships with CertiK, Aleph.im, PolkaCover, and Insured Finance to bring even more decentralized cover to the Orion network.
Finally, as the Bridge Mutual team, we’d like to thank the entire Bridge Mutual community for its involvement, support and patience.In the end, Bridge Mutual is a platform built for everyone.We are steadfast in our pursuit to make Bridge Mutual a DAO for all to control and manage.All of our supporters that are active in our community are cherished.
Are Bridge Mutual smart contracts audited?
Our smart contracts are being audited by Consensys Diligence and Zokyo.Audits will be released prior to v 1.0 launch.
Are you ready for what’s next?
Our representatives and specialists are ready with the solutions you need to advance your business.
Does Bridge collect Passports or Government IDs?
No.Bridge is non-custodial.The Bridge team does not have access to, or control over, any of its user’s funds or the fund pools that are used to provide coverage to policy holders.A portion of the money within Bridge’s coverage pools are reinvested to produce a yield for its users, however, this money is invested automatically on-chain and never under the direct control of the Bridge team.For these reasons and more, we are of the opinion that the Bridge team is not required to collect Know Your Customer information from those that wish to use its decentralized platform.
Does Bridge Network or anyone control my funds?
No, you have full control over the capital provided to the network at any point of time.Nobody on the Bridge team has the ability to control your funds.There is a delay before you can withdraw your funds, this is to ensure that there is enough coverage in the pool to cover all of the outstanding policies.
How are claims handled?
Claims are handled differently based on the type of coverage being claimed: ?Stablecoin claims are automatically and immediatelly settled; one may only make a stablecoin claim if pre-existing conditions are met (the price has crashed for a set duration of time).Smart contract and exchange coverage goes through our multi-phase voting system.The time it takes for a claim to be adjudicated and settled depends on the type of coverage, with exchange coverage taking the longest.
How can I join the Bridge community?
Talk to us on Telegram (t.me/bridge_mutual) and follow us on Twitter (twitter.com/bridge_mutual).
How do I buy Bridge Mutual?
It is not possible to buy all cryptocurrencies with U.S.dollars.Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S.dollars using Coinbase or BlockFi.Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Bridge Mutual.
How do I start earning BMI?
There are three primary ways:1.) Providing coverage in stablecoins to coverage pools;2.) Staking your current BMI;3.) Voting on coverage claims.
How do users make a claim?
Claims, along with accompanying information and evidence, can be easily submitted on the Bridge platform at www.bridgemutua.io.
How Does Bridge Mutual Operate?
Bridge Mutual is a discretionary, decentralized peer-to-peer or peer-to-business insurance platform that offers insurance against losses from hacks or vulnerabilities in smart contracts, cryptocurrency exchanges, and stablecoins.Users are able to provide insurance to others directly, with the opportunity to negotiate fair insurance payouts and earn a payment in BMI for adding value to the ecosystem.This will allow users to get smart contract regulated insurance and for everyday people to become insurers and earn a yield on deposits.This creates a system that was previously only available to corporations.
How is Bridge governed?
The Bridge platform is governed by its token-holders.The public can submit changes to our code and vote on those changes using BMI tokens.One vote per token.At launch, all of the metrics and variables will be set by the Bridge team; however, all of this can be changed via the governing process.Users can purchase coverage by choosing an asset and setting the number of days and amount of coverage desired; in response, the system will automatically generate a quote using a Dynamic Pricing Model that considers various risk factors of each asset.The quoted fee is called the “premium”, and it can be paid for using BMI, USDT, DOT or ETH.
How is the BMI token price determined?
Supply and demand; there is no token price equation or price control.
Is there a lockup period or withdrawal delay for BMI rewarded to me?
No.BMI earned through staking as a reward is unlocked by default.
Stock Buybacks: Why Would a Company Reinvest in Themselves?
The rapidly improving economy and stocks at record highs may be fueling a flurry of stock buyback activity in 2021.
What Is a Bridge Loan?
A bridge loan is a short-term loan used until a person or company secures permanent financing or removes an existing obligation.It allows the user to meet current obligations by providing immediate cash flow.Bridge loans are short term, up to one year, have relatively high interest rates, and are usually backed by some form of collateral, such as real estate or inventory.
What is Bridge Mutual?
Bridge Mutual is a decentralized, discretionary coverage platform.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.
What is Bridge Mutual?
Bridge Mutual is a decentralized, discretionary p2p/p2b insurance platform that provides coverage for stablecoins, centralized exchanges, and smart contracts.Its platform allows users to provide insurance coverage, decide on insurance payouts, and get compensated for taking part in the ecosystem.
What is Bridge Mutual?
Bridge Mutual is a decentralized, discretionary p2p/p2b insurance platform that provides coverage for stablecoins, centralized exchanges, and smart contracts.Its platform allows users to provide insurance coverage, decide on insurance payouts, as well as get compensated for taking part in the ecosystem.
What is MassMutual’s HealthBridge program?
In response to COVID-19, MassMutual has committed to pay the premiums for $3 billion of insurance coverage for the HealthBridge program, which will offer free 3-year term life insurance policies to frontline healthcare workers.
What is stopping voters from fraudulently denying a valid claim?
There are multiple incentive and punishment measures in place within our multi-phase voting system that encourage users to vote fairly and honestly by aligning their incentives with the claimant.Only users that vote in the majority are rewarded with BMI for voting.Users that vote in the minority can be punished by having some of their stake taken away and given to the majority.Users that vote in the minority when there is a large discrepancy (for example, 95% of voters approve a claim while only 5% of voters deny the claim) will have a larger portion of their stake burned than when there is a small discrepancy (for example, 60% of voters approve a claim and 40% of voters deny a claim).For close votes (for example, 55% to 45%), the minority will not be punished.?Furthermore, if a claim is denied and the claimant appeals, the vote will be handled by “Trusted Voters”.
What is the value of Bridge Mutual?
One Bridge Mutual (BMI) is currently worth $2.04 on major cryptocurrency exchanges.You can also exchange one Bridge Mutual for 0.00003699 bitcoin(s) on major exchanges.The value (or market capitalization) of all available Bridge Mutual in U.S.dollars is $49.26 million.
What kind of coverage can be purchased on Bridge?
At launch, Bridge will provide three types of coverage: Smart contract coverage; exchange coverage; and stablecoin coverage.Bridge is the first platform to provide stablecoin coverage that protects users from price crashes.?Our team is always thinking of ways to widen the variety of coverage products, and will continue to innovate.Behind the scenes, we are also looking at ways of introducing more traditional coverage to the blockchain.
What Makes Bridge Mutual Different?
DeFi insurance platforms to date have been able to cover two sectors of the space: smart contracts and centralized exchanges.Nexus Mutual recently expanded into the latter.In addition, Bridge Mutual offers insurance for stablecoins, which have $35.1 billion TVL across more than 30 coins.
Where can I get Bridge Mutual wallet?
Bridge Mutual produces its own wallet software that is available for download on its website, which allows you to store Bridge Mutual on your computer.For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X.If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.
Who are the top 10 Investment Companies?
Investment is a very lucrative method for generating future income.However, it requires individuals…
Who is allowed to use Bridge?
Anyone and everyone.Bridge is not blacklisting any countries from its platform.
Why Polkadot and not Ethereum?
Interacting on the Ethereum network incurs gas fees that are too unpredictable.In recent history, gas fees have gone as high as 15 USDT per transaction.Bridge’s governance and claims voting system rely on interactions within the blockchain, and it would be detrimental to the Bridge platform if user participation was this expensive.We chose Polkadot so that users of the platform will always be incentivized to participate.
Why should I provide coverage?
By providing coverage for an asset, the user is putting their BMI at stake, meaning they can lose some or all of the BMI they have locked in the platform in the event that a coverable claim is submitted and approved.In exchange for this risk, users acquire two things: 1) a constant yield derived from the reinvestment of coverage funds; and 2) profit made by premiums when users purchase coverage for that asset.Ideally, users would provide coverage for assets they believe are safe in order to minimize the risk of losing their BMI while benefiting from yields and profit sharing interest.
Why was Bridge Mutual Built?
As cryptocurrency becomes mainstream, individuals and institutions need assurances that their investment of value into this new technology are protected.?Smart contracts are susceptible to hackers (e.g., the DAO hack), exchanges are vulnerable to attacks (e.g., the KuCoin hack), and stablecoins can crash (e.g., the NuBits crash, DAI liquidity crisis).In order to increase adoption of cryptocurrencies on an institutional scale, confidence in these systems must be increased.Bridge solves this problem in a way that is economically viable long-term, transparent, profitable, decentralized, and scalable.?In addition, Bridge has the potential to be disruptive to the traditional insurance industry.Today’s mainstream insurance model hasn’t taken advantage of new technology and is ripe for disruption.Instead of continuing with the litigious, opaque, adversarial and bloated model of traditional insurance, Bridge intends to revolutionize insurance by replacing it with a discretionary coverage process that is fair, transparent and efficient using blockchain technology to better align the incentives of both sides of a claim.
Will the BMI token be listed on exchanges?
Yes.Uniswap and other exchanges.