Looking back at 2021
As we enter 2022, with the excitement of RCAs on the horizon, we will take a look at a selection of the many highlights of 2021 by re-capping the monthly recaps!
The first full Calendar year has passed for Armor. Though Armor already started developing its products in 2020 (starting by first saving $200m in DeFi cover and then taking over Yearn’s NFT coverage to jumpstart our arNFT DeFi coverage), the other main products were launched during 2021.
You can read details and all monthly recaps on the Armor Blog.
January & February
- The $Armor token was launched and minted, the liquidity pools and farming rewards were started and the arNXM-Vault and its arNXM token launched!
- Armor announced strategic backers and started hiring more developers.
- ArmorFi passes over $800 million in total coverage purchased!
- A Yearn exploit proves ArmorFi’s importance to the DeFi ecosystem, by repaying over $200,000 worth in ETH for user claims.
- ArmorFi partners with ImmuneFi to form the Armor Alliance bug bounty program. Pays out a record breaking $1.5MM USD worth of Armor to fix a critical bug.
For more highlights, links and details, see the January & February 2021 Roundup here.
- Armor passes over $1 Billion worth of coverage sold!
- ArmorFi launches the arCore Smart Cover system, the first “pay as you grow” coverage model in DeFi.
- ArmorFi and ImmuneFi launch Bug Bounty challenge, with ArmorFi matching up to $500,000 USD in Armor tokens for bug bounty payouts.
For more highlights, links and details, see the March 2021 Roundup here.
- Idle Finance, Perpetual Protocol, Alpha Finance Lab, Cream Finance, Synthetix, and Harvest Finance join the Bug Bounty Challenge.
- ArmorFi and Nexus Mutual expand coverage to multichain cover beyond Smart Contract Bugs!
- Perpetual Protocol purchases $2.5MM worth of coverage to protect their users.
For more highlights, links and details, see the April 2021 Roundup here.
- ArmorFi passes $1.5 Billion in total purchased coverage over 88 protocols
- Dodo & BadgerDAO join the Armor Alliance Bug Bounty Challenge
- Co-Founder Robert Forster appears on D-Core podcast
For more highlights, links and details, see the May 2021 Roundup here.
June & July
- ArmorFi team attends EthCC4 in Paris
- Co-Founder Robert Forster participates in AMA with InsurAce and Nexus Mutual.
- Armor’s new cover product arShield is audited and will be live soon.
For more highlights, links and details, see the June & July Roundup here.
- ArmorFi launches arShield Vaults
- ArmorFi launches a first of its kind Ethereum wallet-based Referral Program.
- Robert Forster appears on DeFi Dad
For more highlights, links and details, see the August Roundup here.
- ArmorFi partners with EPNS to provide notification services to its users
- ArmorFi partners with Umbrella to handle oracle needs for future coverage models
- Robert Forster pens an article for BeinCrypto
For more highlights, links and details, see the September Roundup here.
- Armorfi launches a new whitepaper on the upcoming Reciprocally Covered Assets coverage product that will change DeFi.
- Armorfi burns over 466800 $Armor through Social Burn Experiment
- Armor launches DAO forums
For more highlights, links and details, see the October roundup here.
November & December
The team was so busy we skipped the November Round-Up and did a double-sized Nov-Dec recap instead!
- ArmorFi expands the team with three new permanent hires! Rus Hughes as Tech Lead, Romke Jonker as Development Manager and Christopher Hearey as Community Manager
- ArmorFi launches DAO contract and single staking
- DAO passes first successful proposal, burning 250MM $Armor
- ArmorFi launches grant program
- Co-founder Robert Forster literally has skin in the DeFi protection game!
For more highlights, links and details, see the November & December roundup here.
Looking Ahead to 2022
It was an eventful year for ArmorFi and DeFi in general. Every year in DeFi is many Crypto years, and each of those is several regular years already!
In 2021 Armor was built, new and innovative products were launched, income was generated from the start and the team has been 24/7 focused on creating the most robust coverage ecosystem available.
Armor is looking ahead to 2022 for the most anticipated product launch yet, Reciprocally-Covered Assets!
The smart contract audits are scheduled for January, with the first vaults planned to be launched in February.
With this launch, ArmorFi looks to change the scope of DeFi coverage as we currently know it. In tandem, Armor’s tokenomics are changing, rewarding our faithful supporters.
When coverage is free of monthly premiums and contract renewals, we don’t see why everyone shouldn’t be covering their assets by the end of next year. We look forward to seeing you DeFi Safely in 2022. Happy new year!