Apr 12, 2021
Protect Your Assets With Shield Finance
Insurance against rug pulls and black swans
The history of the shield dates back as far as human combat. From ancient Egyptian armies to 300 Spartans holding off the Persian army, to Captain America smashing one into Thanos’ face — it has been a staple of protection for millennia.
While modern-day slings and arrows tend to be more metaphorical and of a digital nature, it doesn’t make them any less harmful to you or your family. Having a good shield is still one of the best ways to keep yourself safe.
Protect Your Crypto Now
Feb-March 2020 was a time people won’t forget. The world was full of uncertainty as the severity of the spreading virus was only beginning to be understood. As usual, the markets were a barometer for sentiment and bitcoin tanked ~ 40% over a couple of weeks. The February highs wouldn’t be seen again until July.
Five months of being underwater can cause serious damage to your mental health.
Fast forward to 2021. Decentralized Finance (DeFi) is growing like crazy. According to DeFiLlama, the DeFi ecosystem has crossed $100 billion in total value locked (TVL), up from just $700 million in January 2020. People are taking control of their finances and using their money to stake, govern, yield farm, and invest how they see fit.
But anytime there’s an open space with lots of money and little regulation, scammers show up to steal what’s yours. In 2020, 20% of all crypto-related hacks were related to DeFi.
Imagine putting your hard-earned money into a project that has solid fundamentals, only to have the developers take the money and run; or hackers exploit the code and take millions; or whales dump their tokens and collapse the price. Even the most seasoned of HODLers don’t feel good when they see the price fluctuate so violently.
Shield Finance Protects All DeFi Products
Shield Finance is a multi-chain DeFi insurance aggregator that allows you to buy protection against all the black swan events that normally would cut into your net worth — hacks, exploits, rug pulls, sell-offs, etc. Their proprietary aggregation engine scans multiple blockchains and DeFi insurance providers to put together custom insurance packages for each and every customer.
Works Across Multiple Blockchains
Think SkyScanner meets 1Inch — an easy to use app that scans all available DeFi insurance providers and options liquidity pools across multiple chains to tailor packages based on the parameters you’ve set. The system supports Polkadot (DOT), Ethereum (ETH), Binance Smart Chain (BSC), and Solana (SOL) blockchains, so you know you’ll be getting the best options available to protect your investments. Packages will be even be offered across different blockchains (e.g. if you’re trading on BSC you can still get insurance from ETH-based Nexus Mutual).
Protection is Easy
Shield will be so easy to use I have no doubt they’ll quickly dominate the market and the majority of insurance plans will be purchased through them. Integration with centralized and decentralized exchanges, wallets, and farms will give you an easy “buy insurance” button next to every token you want to purchase. A couple clicks, a protection amount set, and you now have peace of mind along with your new tokens. You don’t have to learn to trade options and open a short hedge like a professional trader or keep your tokens on a centralized exchange to have a stop-loss.
If all the major exchanges, wallets, and farms are onboard, the insurance providers will follow. Being a part of the Shield ecosystem will give them access to customers they wouldn’t have otherwise, and it will create a competitive market that benefits the buyers. They get more revenue; you get reasonable prices. Win-win.
No Direct Competitors
Shield will also be the only game in town. There are no direct competitors, just more difficult, less efficient alternatives. For example, you could:
- Assemble
Create protection “packages” yourself by buying pieces from other providers, but that will quickly drive up price and stress.
- Audit
Audit the code yourself to avoid a hack/exploit, but that doesn’t protect from a rug pull.
- Stop-Loss
You could set a stop-loss, but you would need to hold the tokens on an exchange, which is a security risk (not your keys, not your coins).
Or, you could click a button and have an instant bespoke protection plan that meets your needs……seems like the decision is as easy as the service.
Buying SHLD Means 30% Stable APY & Participation
Shield has its own SHLD tokens that let you participate in the ecosystem beyond purchasing insurance. You can stake your SHIELD tokens and participate in the project, voting on things like protocol fees and addition of new insurance providers. Staking will also give you rewards at a 30% stable APY.
Incredible Tokenomics
The tokenomics are fantastic. They have a buy back and burn program like FTT and BNB — two very successful tokens in the space. Every quarter, they redirect 50% of fees generated by users to buy SHLD tokens on the open market and burn them, which results in permanent reduction of supply.
The Ultimate in Protection Tech Right Now
At the time of this article, a well-known Twitter account that was supposed to be “waging a war on rugs”, seems to have committed a rug pull themselves. Out of the dozens of projects, they declared problematic, only a few turned out to be actual problems. Then a project they were shilling had 133 million tokens dumped on the market, collapsing the price. It’s still the Wild West at times and you can’t always trust people with a platform, despite their supposed good intentions. It’s better to follow people with proven track records that are backed by trustless systems.
Shield Finance is a project that uses an aggregation engine connected to multiple reputable companies and exchanges. You would need the exchanges, insurances, and Shield to all fail at once or conspire together to steal your funds. I’m not saying it’s impossible……but it’s also possible you could get struck by lightning tomorrow so it wouldn’t matter anyway. Plus the team is known and they have an impressive history in the technology and crypto sectors. You can check out their bios on the website or interact with them through social media channels to ease any concerns you might have.
Shield Finance is a Revolution
Buying crypto can feel like you’re going into combat, solo and unprotected, against armies of bots, scammers, and black swans. It doesn’t have to feel that way.
Buying Shield Finance ($SHLD):
- SHLD works seamlessly with exchanges and insurance providers to create a protective phalanx that would impress even the Spartans.
- The ‘Easy’ button makes it simple and intuitive to protect yourself.
- Staking rewards are at a stable 30% APY.
- You are part of the governance via your staked SHLD holdings.
- Incredible tokenomics — healthy burn rates means scarcity.
So put your fears to rest and join the blockchain revolution changing the world. You’ll have a sturdy SHLD on your arm to protect you along the way.
Written by Jason Lee
About Shield Finance
Shield Finance is a multi-chain DeFi Insurance Aggregator that allows users to buy protection against major market crashes due to hacks, exploits, rug pulls, sell-offs, and other black swan events. We are currently integrating multiple insurance providers to provide our users with reduced slippage and expansive coverage.
For any questions about Shield Finance, please reach out to the team on:
Website: shieldfinance.io
Telegram: @ShieldFinanceHQ
Twitter: @ShieldFinance
Medium: @ShieldFinanceHQ
About Grow Events
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