What Is Ease?
Ease, known initially as Armor Finance, is a Decentralized Insurance Protocol designed to provide continuous protection against potential exploits.
Background
Previously operating under Armor Finance, Ease has evolved to offer a unique approach to decentralized insurance, allowing users to benefit from perpetual coverage.
How It Works
Ease enables users to convert their assets into yield-generating ezTokens, which inherently provide coverage for the protocols they engage with. This process results in creating an insured vault, protecting users without the need for individual insurance purchases. The insurance coverage is facilitated through a novel method known as Reciprocally-Covered Assets (RCA). This system ensures that insured assets are also used to underwrite other deposits within the protocol. If an exploit occurs, a defined percentage from each vault is liquidated to compensate the affected vault.
Key Takeaways
- Ease, formerly known as Armor Finance, is a Decentralized Insurance Protocol aimed at providing continuous protection against potential exploits.
- Ease offers a unique approach to decentralized insurance by providing users with perpetual coverage.
- Users can convert their assets into ezTokens, yielding gains and providing coverage for their protocols.
- Ease creates an insured vault instead of individual insurance purchases, providing its users with comprehensive protection.
- The insurance coverage is facilitated through a novel method known as Reciprocally-Covered Assets (RCA). If an exploit occurs, a defined percentage from each vault is liquidated to compensate the affected vault.
