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Yam Finance Community is Developing the Umbrella Protocol

Amy Liu

Summary: Yam Finance tweeted that the community has launched a new protocol Umbrella Protocol. According to the official introduction, the core component of the protocol is MetaPool, which allows insurance providers that provide protection for DeFi users to deposit funds in it to earn "premiums."  After depositing funds into the coverage pool, users receive ERC20 tokens ...

Yam Finance tweeted that the community has launched a new protocol Umbrella Protocol. According to the official introduction, the core component of the protocol is MetaPool, which allows insurance providers that provide protection for DeFi users to deposit funds in it to earn "premiums." 

After depositing funds into the coverage pool, users receive ERC20 tokens to track the basic balance of the deposit. In the event of a vulnerability attack and other incidents, users can submit a claim to MetaPool. The official said that the development of the alpha version of the Umbrella Protocol code is currently being completed, and then internal testing will be carried out in the Yam community. After testing, the specific design may be modified.

By Amy Liu

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