[PRESS RELEASE]
Tidal Finance, a high-yield insurance DeFi platform, has seen massive support from the community after getting oversubscribed by 500 times upong its Initial Dex Offering (IDO) on PolkaStarter.
Following this impressive feat, the Balancer Liquidity Bootstrapping Pool (LBP) follows the Initial DEX Offering (IDO) on PolkaStarter.
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SEE ALSO: Xend Finance Sees One of the Largest Liquidity BootStrapping Pools on Balancer as it Launches on UniSwap
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As of this writing, the Tidal Finance listing on Balancer has already seen the token go up by over 10x in value.
Tidal Finance was scheduled on PolkaStarter on March 23, 2021 with a public sale (IDO) allocation at $0.00375 cents per token. Only a total of 250 addresses were whitelisted with a maximum allocation offer of $400 per address.
A total of 1 billion $TIDAL tokens will be distributed in the ongoing LBP sale.
A UniSwap listing will follow after the Balancer LBP concludes.
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About Tidal Finance
The current DeFi landscape is susceptible to hacks due to the lack of robust infrastructure solutions allowing malicious entities to take advantage of the protocol’s vulnerability. Tidal Finance aims to hedge the risks of platform users to push WEB3 adoption beyond measures.
In order to do so, smart insurance cover solutions need to be introduced to ease DeFi investments for users in various protocols. Tidal Finance employs multi-faceted functionalities that offer increased security to protocols, guarantors, and cover buyers.
Platform users will be able to employ a $TIDAL token. The $TIDAL token is central to the incentivization structure for Tidal Finance’s platform. It has various utilities that the holders are entitled to in case of failure of the decentralized asset or protocol. The $TIDAL token will be employed as a governance token to vote on various proposals driving the decisiveness on the platform. Active platform users will also be able to stake $TIDAL tokens in exchange for staking rewards.
Tidal Finance is all set to unleash the true potential of DeFi by providing a protective layer to the vulnerable DeFi landscape. It’s simple, smart, and intuitive smart contract insurance solutions aim to revolutionize the DeFi insurance space at an astounding rate, imparting immense value to the DeFi economy.
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RECOMMENDED READING: UniSwap Becomes the First Decentralized Exchange to Process Over $100 Billion in Volume
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