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Waves joins UNION entity to protect users and crypto assets

By Inkarias - 2020-12-30

In the world of cryptocurrencies and more and more often in 2020, the security and protection of digital assets of investors are becoming major issues to ensure the sustainability of these markets and cryptocurrencies as a sustainable solution for universal payments. Waves recently announced a new partnership with UNION, a full-stack protection platform reducing costs and risks in DeFi sphere by providing a modular infrastructure and reliable tools for risk management. As introduced with the announcement here: https://medium.com/wavesprotocol/waves-partners-with-union-for-asset-protection-122231c308fc

UNION’s platform enables the creation of asset protection products based on organic market demand, ranging from discretionary smart contract coverage to complex derivatives on credit default risks and coverage for impermanent loss of liquidity providers. UNION’s platform is composable and decentralized, offering secondary markets for protection and an inclusive no-KYC ecosystem.”

Protection tools and upcoming smart contract

Via the new collaboration with the project Waves , UNION will offer its collateral protection product to future lending protocols that use Waves’ Neutrino USD (USDN) at the center of operations while bringing a new layer of security and interest with smart contract protection. As Sten Laureyssens, Strategic Advisor for the Waves Association shared :

Waves’ complete DeFi solution with a broad market reach is the perfect platform for building UNION’s complete DeFi protection. We look forward to advancing the industry together in 2021 with an inclusive, safe, and accessible portal. The exponential growth of USDN allowed us to identify demand for advanced risk management and asset protection products. “

UNION will also be used in Waves’ future products based on the lending model originally set and will closely collaborate with Waves team to create and issue a strong smart contract protection tool focused on Gravity. This smart contract is still under active development and should be released soon in the first quarter of 2021. In this way, UNION will bring and guarantee an additional protection mechanism for users of Gravity’s cross-chain system.

More information on this partnership and what is represented for DeFi at https://waves.tech/