InsurAce is thrilled to announce its acceptance into BNB Chains’ Most Valuable Builder Incubation Program (MVB IV). InsurAce is one of five projects selected by BNB Chain for the fourth batch, which will have access to special events, mentorship, support possibilities, and much more.
The MVB program facilitates dApp development and innovation on the BNB chain. InsurAce faced fierce competition from other projects across different blockchain micro-niches, including MetaFi, GameFi, DeFi, and Web3. With the onboarding of InsurAce into the MVB IV program, the platform could be picked as a monthly star or top player, providing a plethora of unique benefits.
What is InsurAce?
InsurAce is a decentralized multi-chain insurance protocol – the platform provides insurance solutions for DeFi users allowing them to mitigate various risks associated with investing in DeFi assets. InsurAce offers users low-cost insurance, widespread coverage, transparent governance, and sustainable returns.
The protocol launched ten months ago and is now protecting more than 114 protocols across 16 public chains with a total of $262m worth of assets under its protection and $196.2m in Total Value Covered. Twelve major sponsors also back InsurAce. The entry into the MVB IV program marks another significant milestone in the platform’s development.
What is the MVB Program
The MVB program is a Binance-run initiative focused on catalyzing the development of exciting protocols on the BNB Chain. MVB seeks projects that advance DeFi’s infrastructure to power the next generation of DeFi 2.0, NFT, and GameFi solutions.
The MVB Program is currently in its fourth season with five protocols of interest participating in the third batch. Participants will enjoy investment offerings, mentorship, and exposure of their projects’ services.
What Are The Benefits of the MVB IV?
The BNB Chain’s $1 Billion Growth Fund has allocated $300 million to the MVB Program, which supports early-stage enterprises and helps them expand. In MVB IV, the most successful projects will receive various incentives and rewards that have never been offered before!
The full benefits of MVB IV for the most promising projects include:
- Direct Offer for Investment.
- Offers for 2nd Round Investments (subject to further and confirmatory diligence).
- 1st Place Prize: $1 million (valuation subject to negotiation).
- Second Prize: $500,000. (valuation subject to negotiation).
- Third Prize: $200,000. (valuation subject to negotiation).
- Incentives for the purchase of gasoline.
- Helping Businesses and Individuals (Global and Regional).
- Potential Listing on Binance.com.
- Supporting the development of new products through systematic technical assistance.
MVB IV will run from January 2022 through April 2022. The MVB Monthly Star category will also feature in MVB IV, just like in the previous season. BNB chain will choose the best-performing projects (January, February, March) while they will select the MVB IV Top Players at the end of the program in April.
How MVB IV Will Help InsurAce
MVB Incubation Program has helped numerous new and emerging protocols by providing education, assistance, finance options, and a network of mentors and investors.
BNB will utilize Marketing/PR experience and use their community reach to help promote InsurAce and support the platform to build momentum by crafting campaigns, events, and activities based on needs and preferences.
Security support will also be available from top-tier auditing and security firms to help further strengthen InsurAce’s security infrastructure. Also, the opportunity to join Binance Labs incubation program could help InsurAce.io integrate more seamlessly into the Binance ecosystem.
InsurAce.io is a decentralized multi-chain insurance protocol designed to strengthen the DeFi community’s risk protection infrastructure. InsurAce.io provides portfolio-based insurance products with optimized pricing models to significantly reduce costs for its users.
The platform also comes with insurance investment functions with flexible underwriting mining programs to generate sustainable returns for participants. InsurAce prides itself on its vast coverage provision via its cross-chain capabilities allowing DeFi users across different chains to access its insurance services.