Popular cryptocurrency influencer and analyst Lark Davis has unveiled a new decentralized finance (DeFi) altcoin that he is betting on in a YouTube video published to his over 240,000 subscribers on the Google-owned platform.<\/p>\n
In the video, as Daily Hodl reports, Davis reveals he is betting on Tidal Finance\u2019s TIDAL token. The project is building a marketplace for programmable insurance on top of the Polkadot (DOT) blockchain, something he says he is bullish on:<\/p>\n
I\u2019m massively bullish on the insurance use case for decentralized finance and for cryptocurrency more broadly, especially considering that right now it seems like we barely go a week without another smart contract hack in DeFi or people losing millions of dollars worth of money.<\/p>\n
Per the influencer, Tidal Finance connects the buyers and the sellers in its insurance marketplace to \u201chelp cover against smart contract risk.\u201d He noted he believes that the DeFi project can help mitigated the risks associated with Web 3.0 and the use of smart contracts.<\/p>\n
Davis added he sees Tidal Finance as an innovator in the sector, managing to stand out against the \u201cbiggest insurance player right now, Nexus Mutual,\u201d by not requiring any know-your-customer (KYC) checks on the use of the platform, and allowing for the creation of custom insurance pools.<\/p>\n
Davis went on to say that Tidal Finance is \u201coffering the best yields to depositors and the lowest premiums to buyers of insurance plans.\u201d The project\u2019s insurance pools are over leveraged to ensure \u201cenough funds are always on hand to be able to cover any losses when claims inevitably come.\u201d<\/p>\n
https:\/\/youtube.com\/watch?v=toBa73qmvGQ%3Ffeature%3Doembed<\/p>\n
Tidal Finance\u2019s token will be on sale on Polkastarter and on Balancer. Soon after it will be listed on decentralized exchange Uniswap. Whether the token will listed on major trading platforms like Binance or OKEx is still unclear.<\/p>\n