Tidal Finance (TIDAL)

Tidal Finance

Type	Insurance
Total supply	20,000,000,000
Website	https://www.tidal.finance/

Basics

• Based in:
• Started in / Announced on:
• Testnet release: 17-4-2021
• Mainnet release: 27-7-2021
• A yield insurance platform that offers the ability to hedge against the failure of a DeFi protocol or asset.

Token

Launch

• From a press release (26-3-2021):

"Tidal Finance plans to attract participation from the community through a Balancer liquidity bootstrapping pool on 25th March. The Tidal IDO on Polkastarter was oversubscribed by 500 times garnering massive support from the community."

Utility

• From a press release (26-3-2021):

"It has various utilities that the holders are entitled to in case of failure of the decentralized asset or protocol. The $TIDAL token will be employed as a governance token to vote on various proposals driving the decisiveness on the platform. Active platform users will also be able to stake $TIDAL tokens in exchange for staking rewards."

Other Details

• From their docs (3-2021):

"The TIL token is a standard ERC-20 token which will in future be migrated to a Polkadot-based smart contract platform such as Moonbeam or Plasm."

Technology

• Whitepaper can be found here (13-12-2020).
• Code can be viewed [insert here].

Implementations

• Built on: Ethereum, but will move to Polkadot (3-2021).

How it works

• From a press release (26-3-2021):

"The Tidal platform allows users to cover multiple protocols at the same time with increased capital efficiency."

• From their docs (2-2021):

"Tidal token holders can propose new coverage pools. Each pool will combine protocols LPs will be able to stake capital to provide coverage. Users can purchase insurance by choosing an asset and setting the number of weeks and amount of coverage desired; in response, the system will automatically generate a token that represents the coverage based on the current coverage price quote.

It is in the best interest of Tidal token holders to support the value of the Tidal tokens. The value of these tokens in turn is directly related to the overall health of the Tidal protocol. Our claim voting process will reward token holders that vote in the majority. Tidal Assessors can also overwire the vote unless the super majority has voted in favor of denying the claims."

Compliance

• Tidal is non-custodial and doesn’t require KYC.

Governance

DAO

• From their docs (2-2021):

"The Tidal protocol is governed by its governance token holders. The public can submit changes to our code or parameters that guide performance of the protocol. Token holders can vote on these proposals in our normal DAO process using TIL tokens. At launch, all of the required parameters and selection of Assessors, etc. will be set by the Tidal team; however, all of this can be changed via the governing process.

You have full control over the capital staked to the protocol at any point of time. Nobody on the Tidal team has the ability to control your funds. There is a delay before you can withdraw your funds, to make sure any claim filed for the pool you are providing capital to can be covered."

Treasury

• Has a treasury which gains a part of the cover fees (13-12-2020).

Roadmap

• Can be found [Insert link here].

Audits

• Bug bounty program can be found [insert here].

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].

Funding

• From a press release (26-3-2021):

"Backed by KR1, Hypersphere Ventures, Spartan Capital, Kenetic Capital, QCP Capital and AU21 Capital."

• Received a 'significant grant' from Polygon (27-4-2021).

Partners

• With Oasis Network (9-4-2021):

"Through this partnership, Tidal will integrate its cross-chain insurance protocol into the Oasis Network bringing in a new class of privacy-enabled financial vehicles to the users.

Additionally, Tidal will expand its claims process to include anonymous, democratized voting on claims processing with their community. This means the community could vote on whether a particular claim should be approved in a privacy-preserving manner."

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