Last week it was announced that Harvest had been presented with an investment opportunity and the idea has been put up for a vote! The $50,000 investment in Steady State would be invested during the seed round which is attempting to raise $4 million USD. Steady State is building the first Direct-to-protocol protection solution which will function as DeFi insurance. This has been a huge issue within DeFi as for the most part your funds are not insured or protected and thus the DeFi attacks happen.
This project has been incubated by YIELD App and even has a community grant from Chainlink Labs. The Steady State team is currently aiming to have their product launch in Jan 2022 with v1 fully rolled out by March. Steady State is currently building out their Risk Analysis Database (RAD) which will be the most comprehensive database on the aggregation of DeFi exploit and hack data points.
Steady State is also looking to create a secondary market for people to actually be able to trade their risk exposure which is a really interesting idea. This project is pretty interesting to read about and could be one of the first big solutions to this issue with DeFi. Currently, the voting is 100% for the investment which makes a ton of sense for the Harvest Community!
Please know I am not a financial advisor I am just someone who picked up on a trend and wanted to express it! Makes sure you always do your own research and never invest money you cannot afford to lose! If you enjoyed this article and would like to further support me below are a couple of referral links that if you used when signing up I would appreciate it! I have also just launched a Twitter account specifically for crypto and the crypto world and would love it if you would follow me @Cje95_
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