Tidal Finance (TIDAL)

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Tidal Finance
TypeInsurance
Total supply20,000,000,000
Websitehttps://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.

History

Token

Launch

"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."

Token Allocation

Utility

"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."

Stablecoin

Coin Distribution

Technology

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

Implementations

How it works

"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."

Staking

Liquidity Mining

Scaling

Interoperability

Other Details

Privacy Method

Compliance

Oracle Method

Their Other Projects

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).

Upgrades

Roadmap

  • Can be found [Insert link here].

Audits

Bugs/Hacks

Usage

Projects that use or built on it

Competition

Pros and Cons

Pros

Cons

Team, Funding, Partnerships, etc.

Team

  • Full team can be found [here].

Funding

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

Partners

"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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