NEAR Protocol Gives Grant To InsurAce․io For Development

February 12, 2022 6:17 pm

InsurAce.io has recently announced that the company has received a development grant from NEAR Protocol which adds another project that is developed within the NEAR Protocol ecosystem.

The company has mentioned that they have always been on the lookout for new protocols to work with and that this grant will allow them to achieve that goal.

What makes this grant from NEAR even better is that the two have the same goal in mind which is to create a society where people have ownership and control over their own money, data, and platforms.

Bitcoin.com reports:

Both NEAR and InsurAce.io envision a society in which individuals have sovereignty of their money, data, and the instruments needed to create innovative concepts and ideas.

NEAR is a sharded, layer-1, PoS (Proof-of-Stake) blockchain which is easy to use, safe, and highly scalable.

Moreover, NEAR Protocol is built with both EVM (Ethereum Virtual Machine) and Rust, and the InsurAce team is thrilled that their funding lets them develop on both networks.

To learn more about the NEAR protocol from a developer’s viewpoint, visit their Github page and download the most recent updates and code.

The NGP (Near Grants Program) has been in operation for a year.

The ecosystem revealed a $250 million investment in several DeFi initiatives which they believe would greatly benefit their system and community.

They are pleased to be working to develop the NEAR protocol because they believe it will help millions of people redefine commerce, creativity, and community for a much more inclusive future.

Additional details and regular updates are expected throughout 2022.

The NEAR Protocol is currently ranked 23rd on CoinMarketCap and has a total market capitalization of around $6.9 billion making it one of the top ecosystems to work with.

InsurAce.io is known as a multi-chain protocol insurance protocol that is designed for risk protection within the DeFi community.

With the extra funding that NEAR is providing, investors are expecting many more DeFi projects to continue to be developed.

There are already around 100 different protocols that have been built on InsurAce.io and the start of development within the NEAR ecosystem would certainly create a more positive outlook for NEAR.

Blockonomi reports:

The team behind InsurAce.io have continued to work towards achieving the timelines on its roadmap. As a result, there are plans to launch a few products in the coming months.

Some of which include adding new insurance products, launching a multi-chain aggregator, and deploying to new EVM chains.

InsurAce.io also plans to list INSUR tokens on multiple centralized and decentralized exchanges to foster its adoption in the coming weeks.

The NEAR Grants program will continue to run and search for new opportunities to fund and add additional DeFi projects to its ecosystem.

With more and more projects being added, this helps position NEAR Protocol to be a top proof-of-stake blockchain in the future and paints a positive outlook for its native token NEAR.

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