Insurance is another word in the world of Finances that is quite controversial. Most private insurance companies tend to get as much profit as possible from their clients. Due to this greed of profit at the heart of these companies, governments have tried many times to step in and take charge. A recent example of this would be the steps taken by the Singaporean government. They introduced CareShield Life in order to better the lives of disabled citizens regardless of their age. They did so by collaborating with various private insurers.
According to Da HongFei, TVL is a company to be reckoned with. Their valuation in the market sits at $1.6 billion, which is quite a significant figure. The main aim of Defi insurance is to protect crypto traders from any unforeseen event. After all, the crypto market is still a bit new. Due to its decentralized nature, crypto is also a threat to many centralized and traditional investment methods and markets. Defi, which itself is decentralized, makes sure that any crypto trader does not end up ruining their life in any way. Thus, if you are unsure about stepping into the crypto world, you don’t have to worry. Just make sure that you get yourself insured by Defi.
TVL is not a company with a new concept. There are many in the market that provide crypto coverage. However, with rising insurers of crypto, it sure is a positive sign for the market as a whole.