Armor is the only Coverage protocol safe app
DAO’s can now get cover from within Gnosis.
We are happy to announce that Armor is now a Gnosis Safe App! We would love to thank our friends at Gnosis for making this happen.
Armor joins 1Inch, Compound, Aave, InstaDapp, Lido, Oasis, Synthetic, Uniswap and a few dozen more DeFi protocols in the Gnosis Safe App ecosystem.
Armor is the only DeFi Coverage protocol that has a Gnosis Safe App.
What Are Gnosis Safe Apps?
Gnosis Safe is a Web3 operating system for DAOs, teams, and individuals to manage digital assets. Its modular infrastructure enables users and developers to customize access control parameters and multi-sig permissions.
Gnosis Safe’s functionality extends through the SafeSnap DAO module for on-chain execution of off-chain votes, and the Safe App ecosystem of dapps is accessible directly from Safe’s secure interface.
Widely used by Ethereum projects for treasury management, Gnosis Safe currently stewards more than $40 billion USD. Although Gnosis Safe’s primary use is as an out-of-the-box asset management and coordination platform, its open-source architecture can also be modified by projects seeking to adapt its tooling for their own needs.
Safe Apps are dapps that have integrated with the Gnosis Safe Multisig via the Safe Apps SDK. There are three reasons why Safe Apps are important in the current DeFi landscape:
- DeFi is moving at an exponential pace. It seems like every other day someone is making the “next game-changing DeFi protocol.” However, with this speed of innovations comes a scattered UX/UI. Every protocol has its own onboarding process. The Safe App helps in building a single point of entry
- Most of the DeFi apps are not readily available to the masses since they are hosted and managed by small project teams. Being in the Safe App ecosystem increases visibility.
- Most asset management platforms and crypto wallets don’t provide enough context for users to understand and verify their transactions.
Why is this a great thing?
Now teams can access the Armor ecosystem directly from their Gnosis multisig!
This way, they can get arNFT or arCore Smart Cover for their team assets, they can stake in the reward pools, claim rewards, and more. They can also use the Yearn Safe App to deposit their treasury stable coins, and then immediately deposit the received yvTokens in Armor’s newly launched arShield for automatic coverage.
This is a giant step forward for the usability of the Gnosis Safe wallet, as it will not only allow teams to get cover for their assets, but they can do so right from within the Gnosis app.
Accessing The Armor Safe App
Step 1: Go to Gnosis Safe Apps.
You will see Armor now listed (top row, alphabetically), alongside Aave, Compound, Curve, Instadapp, Sushi, Yearn, and several others. These are all current Safe Apps:
Step 2: Click on the Armor app and you will see the following screen:
Now your Gnosis safe wallet can use all Armor coverage products, straight from the Gnosis UX! For example, you can have your multisig wallet analyzed by the arCore Smart Cover system and get cover for your assets.
This is a giant step forward for all DAO’s using the Gnosis multisig. Not only can they get cover for their assets, but they can do so right from their trusted Gnosis environment.
We at Armor are constantly working on expanding our presence in the crypto space. Now, users of the Gnosis platform can leverage Armor’s cover system to secure their holdings.
Since its launch in 2019, the Gnosis multisig has become one of the most trusted platforms for storing digital assets. The Safe Apps allows users to safely interact with Ethereum-based tokens directly from the Safe multisig interface. Together, our partnership with Gnosis will allow users to interact with the world of DeFi with the protective net of Armor coverage. It’s just another way we’re making DeFi safer!