The ease Uninsurance coverage revolution is finally here.
Today marks the launch of the ease uninsurance ecosystem. The app is going live with 17 vaults spread among 4 major bluechip protocols. 8 more vaults will be launching in the coming weeks, plus many more through the rest of 2022. The app can be found here: https://app.ease.org
More vaults will be added constantly to the ecosystem and in the future, it will expand onto other chains. More opportunities for increasing TVL will increase the resiliency of the ecosystem for all users.
The ultimate goal of Ease is to no longer have coverage be a decision in DeFi. Coverage premiums shouldn’t keep you from protecting your assets.
That’s why ease Uninsurance doesn’t have premiums, nor deposit or withdrawal fees.
This video will explain how the system works:
All you’ll need to do is come to Ease.org and begin your DeFi journey with coverage wrapped tokens.
ease Uninsurance allows all of DeFi to finally feel at ease.
The vaults that ease Uninsurance will launch with
| Aave | Convex | Sushi | Yearn |
| aDAI | cvxcrv3crypto | SLP-BIT-WETH | yvWETH |
| aFRAX | cvxMIM-3LP3CRV-f | SLP-WETH-USDT | yvDAI |
| aCRV | cvxFRAX3CRV-f | SLP-USDC-WETH | yvCurve-stETH |
| cvxsteCRV | SLP-DAI-WETH | yvCurve-IronBank | |
| cvxcrvRenWBTC | SLP-WBTC-WETH |
More details about every one of these vaults can be found in the ease Uninsurance app.
Vaults coming to the Ecosystem soon
| Aave | Compound | Yearn |
| aUSDC | cDAI | yvUSDC |
| aUSDT | cUSDC | |
| cUSDT | ||
| cTUSD | ||
| cSUSHI |
and many more…
Terms and conditions
When depositing any assets into the ecosystem for the first time, the user must agree to the following before moving forward:
Be sure to read all documents thoroughly before agreeing to participate in the Uninsurance ecosystem.
The ease vaults work for you
Depositing tokens into the ease Uninsurance vaults protects them, but it also creates yield for the user!
Every vault is unique and optimized for maximum yield: each vault has an adapter unique to that protocol to ensure users do not miss any yields.
- Example 1: the Uninsurance ecosystem will stake deposited Sushi LP tokens into Onsen to ensure that the user does not miss staking rewards.
- Example 2: Aave requires users to collect rewards manually. The Aave vaults in the Uninsurance ecosystem are set to do that for the user automatically: harvesting and depositing any rewards back into the system.
Be sure to review the info panel of each vault before depositing. In order to be able to deposit tokens from the top protocols, some underlying assets require specific steps. Check them out in the ease Uninsurance app now.
Stacked Risk
Unique to the Uninsurance ecosystem is the idea of providing stacked risk at no extra cost. Currently, other coverage providers would have you purchase an individual policy for every protocol involved in an underlying asset.
For example, if a yearn vault’s strategy deposits into convex, most providers would require a policy for both Yearn and Convex. Uninsurance vaults provide coverage for every protocol in the stack. ease protects your tokens, irrespective of which underlying protocol falls victim to an exploit or hack.
The info tabs in the ease Uninsurance app list the protocol stack for each vault.
Withdrawing Assets
When removing assets from the ecosystem there is a 24-hour delay from withdrawal request to withdrawal finalization. This ensures that a user can’t game the system by attempting to exit when a hack is identified but before funds are slashed.
This means during the 24-hour delay the user’s tokens will no longer continue to earn yield. However, they will still retain coverage (they are still covered by the ease Uninsurance system). They will also still function as collateral to the Uninsurance ecosystem.
This also means that until the “finalized” transaction is executed, the deposited tokens can be charged in case of a hack, as defined below.
So, if you have withdrawn your assets and there has been no hack while they were deposited, you will have been covered during that time without premiums, without fees.
When a Hack occurs
If a hack occurs and the DAO votes to move forward with liquidation, underlying assets will be slashed. This distributes the loss equally through the entire uninsurance ecosystem, based on calculations that are approved by the DAO. Please read Liquidation Procedures for more information.
More Info
Please review the following for more information on using the app.
About ease
The team at Ease shares a common vision:
- Blockchain technology and decentralization are a giant step forward and DeFi is a game-changer.
- Access to and usage of DeFi must be as easy and safe as possible. We do this by using the benefits of blockchain technology to bypass the negatives of TradFi.
- By covering Crypto risks easily and affordably, we can onboard many more crypto users.
- Crypto is just getting started, but the more users we can help get aboard, the faster the revolution will be.
In 2020, Armor.fi revolutionized DeFi coverage by making it flexible, automatic and not connected to memberships.
Since then, the team has been thinking about how to cover all of crypto. This is how Ease, and the model of Uninsurance came to be.