18/06/2021
“Best of crypto” is a term often thrown around by people to describe an ICO that has raised the most money to date. But what about the other side of the coin? What about those ICOs which have lost the most funds raised? In a market with so many ICOs, and so many raised amounts, it is often hard to come by statistics that can measure success or failure.
Unslashed Finance is a decentralized financial platform that uses the Blockchain technology to create a new financial system that can help small businesses and individual users to get rid of the bank and financial institutions and have their own financial system. Unslashed Finance aims to provide the best financial services in the world by providing advanced and secure solutions. This is the place where you can meet the Unslashed Finance Founder and learn more about the project and how the community can get involved.
Marwan Haji is the founder of Unslashed Finance, a platform that provides insurance for decentralized finance. Marwan is a serial entrepreneur with a passion for blockchain and fintech. With a background in traditional financial markets and investment banking, Marouane has worked as a strategy and innovation consultant and financial analyst for organizations such as Accor, Axa Investment Managers and Citigroup. Marwan, who has been passionate about cryptocurrencies and blockchain technology for years, used his skills in the cryptocurrency industry to help launch several startups before deciding to create a more secure digital financial system with Unslashed. When did you discover blockchain and crypto-currencies? I was working in traditional finance in 2012 when I first heard about bitcoin. This idea seemed so radical that I immediately wanted to know more. This was the beginning of my exploration of technology and the impact it can have on the world. We know you’re particularly passionate about Ethereum, what makes this blockchain different? Ethereum has been as important to the cryptocurrency world as the addition of a scripting language to internet browsers; it has taken the original world-changing innovation of the original technology (in this case, BTC) and built on it to improve its usability and functionality. Ethereum has allowed people to create real applications and use cases on the blockchain, creating the industry we all live in today. Ethereum is the best blockchain in the world today in terms of ease of use. You are a serial entrepreneur, what other blockchain startups have you helped launch? In the blockchain field, I helped develop Paraswap as a consultant and helped launch PoolStake. Can you tell us how Unslashed came about? The original idea for Unslashed was born shortly after I discovered Ethereum. I knew this space had unlimited possibilities. I have seen the need for a truly decentralized insurance solution for the many risks that investors and developers face in this space. I knew that with my experience I could help the industry grow by leveraging my expertise and creating a solution that protects people from these risks. What are the main risk factors against which managers of decentralised financial systems should insure themselves? The cracking of the stock market’s core, the cracking of the DeFi and the loss of stable currencies are the most obvious examples of threats that traditional insurance companies cannot cover, and they represent tangible risks for individual and institutional users. The ability to offer policies that cover these common risks in a decentralized manner is drawing more and more users to the crypto space. Most retail users of cryptocurrencies have heard of Mt. Gox, the most famous stock market hack in history; it helps to understand the risks that arise when assets are stored on centralized platforms. Stablecoin anchor policies have different user bases that are either institutional (crypto hedge funds that actively trade stablecoins) or crypto users that borrow or lend stablecoins from different locations (centralized or decentralized). Users can earn revenue with Unslashed, can you explain how it works from a business perspective? Absolutely. Investors can deliver assets (ETH) to a separate capital pool and are exposed to limited risk on a single policy. By depositing assets (ETH) into the capital pool, capital providers begin to earn income in the form of premiums paid in ETH by policy buyers in exchange for protection against the risks of that policy. A bucket of capital is therefore a set of insurance policies that have been carefully designed, priced, rated and constructed for underwriting by insurers. They allow insurers to diversify their risks and offer coverage under multiple policies simultaneously. Investors receive 3 types of returns:
- Premiums paid by buyers of insurance coverage in exchange for coverage under the chosen policy or policies.
- Asset management performance relative to allocated capital
- USF capital withdrawal fee
Unslashed recently partnered with Enzyme Finance. Can you tell us a bit more about this partnership and what it means for Unslashed? We are very proud of our partnership with Enzyme! This allows us to create a more capital efficient model than any other in the industry, and create the world’s first capital efficient DeFi insurance protocol – so that deposited collateral generates DeFi returns in addition to standard USF premiums and production. Enzyme offers more functionality and support than any other asset management infrastructure inFi today. It supports over 200 assets and connects to all types of DeFi protocols. Enzyme vaults can work with credits, MA pools (like Uniswap and Curve pools), wagers (like Curve LP tokens or just ETH), semi-automated cultivation strategies, leverage, etc. The modular and extensible design allows teams like Unslashed to guide and extend the protocol for new use cases, bringing them to market much faster and cheaper. Maybe the most important thing: By using Enzyme as its infrastructure, the Unslashed team can leverage the Enzyme network of developers and recognized security experts (Enzyme Council, Chain Security, PWC, and Open Zeppelin), remove the burden of maintenance, and focus on developing the best security protocol on the market. Is there anything else you’d like to share about Unslashed? Yes, we had a very successful private beta and now we’ve fully launched the site and it’s open to everyone. Stop by to learn more about our offerings and interact with our community on Discord. Thank you. Thanks for the great interview, readers who want to know more should visit Unslashed Finance.
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