August 17, 2022

Risk Harbor: Parametric danger management platform for DeFi launches on mainnet

2 min read

Risk Harbor, a permissionless danger management marketplace for DeFi, released on mainnet today with a $3.25 M seed round co-led by Framework Ventures and Pantera Capital with additional support from Bain Capital Ventures, Digital Currency Group, Coinbase Ventures, and Nima Capital.

The launch develops Risk Harbor as the first-ever completely automated and objective risk management market for DeFi individuals.

Formerly in private beta, the platform has nearly $2M in liquidity locked in. Threat Harbor, which likewise has an existence on Polygon, distinctively utilizes an automated and objective algorithmic claims procedure to protect users against clever agreement attacks in a completely protected and objective manner. The effectiveness of such a system likewise permits individuals to enjoy instantaneous claims and payout processes while offering the lowest rates with market-informed vibrant rates.

Co-founded by Raouf Ben-Har and Drew Patel, Risk Harbor operates as a two-sided marketplace in which DeFi depositors are able to buy security for their capital in DeFi jobs; while others are able to finance that defense in return for premiums.

Drew Patel, Co-Founder at Risk Harbor”Existing threat management platforms suffer from prisoner’s issue. These protocols depend on underwriters that dictate whether a claim should be paid or not and naturally, underwriters wish to maximize policies offered while decreasing claims paid. In this situation, policyholders are beholden to misaligned underwriters and have no other recourse. With Risk Harbor, transparent and impartial clever agreements decide whether a claim stands, thus eliminating third-party intermediaries while producing an entirely reasonable and inclusive claims process.”
– – Drew Patel, Co-Founder of Risk Harbor


The raise will support Risk Harbor in broadening defense services cross-chain to accommodate a variety of procedures and anywhere demand flows.

In addition, the funds will make it possible for Risk Harbor to scale internal operations and research study and development for future offerings. In anticipation of the mainnet launch, the funds have also been used to design a revamped user interface with a heavy focus on a simple, delightful, and useful user experience for both retail and institutional financiers.

Aside from participation from major funds, an impressive lineup of angel financiers likewise added to the raise, consisting of Anthony Pompliano of Pomp Investments, Noah Jessop of Proof Group, Ashleigh Schap of Uniswap, Nikil Viswanathan and Joe Lau of Alchemy, Do Kwon of Terra Money, Seb Audet of Zapper, Tyler Ward of BarnBridge, and Ashish Rajpurohit previously of Polygon.

Danger Harbor is a threat management marketplace for decentralized finance (DeFi) that makes use of a completely automated, transparent, and impartial claims procedure to protect liquidity providers and stakers versus smart contract hacks and attacks.

The post Risk Harbor: Parametric danger management platform for DeFi launches on mainnet appeared initially on CryptoNinjas.