📌Bi-Weekly Progress Update

🔓Over 8.5 Million dollars covered and counting.

💰Max APR of the deposited assets ~ 118% !

🔥New feature releasing soon to enable end user coverage plan.

Read all about it 👇
https://medium.com/tidal-finance/bi-weekly-recap-nov-1st-to-nov-12th-5043eb2203d1

🚀 Partnership announcement 🚀

🔥We are thrilled to announce that Bella Protocol has started the safety fund to get 1 Million TVL covered through #tidal, adding an extra layer of protection to their users’ assets.

💰Bella protocol's reserve pool will be deployed this week, ready for reserve providers to earn policy premiums and rewards. Stay tuned for more details.

✅Bella Protocol is a “one click crypto banking” system providing best yield and zero gas fees for liquidity providers. We are excited to share more details about their product offering in a detailed blog post later.

https://medium.com/tidal-finance/bella-protocol-launches-insurance-fund-to-cover-up-to-1-million-worth-tvl-through-tidal-platform-60e66867c7f4

🚀 Partnership announcement 🚀

🔥We are very excited to bring another partner OpenSwap to the ecosystem, who has started the safety fund to get 1 Million TVL covered through Tidal.

💰OpenSwap reserve pool will be deployed this week and ready for reserve providers to earn policy premiums and rewards. Stay tuned for more details.

✅OpenSwap is a DEX offering the best on-chain pricing and multi-chain arbitrage and trading through its innovative "liquidity Queues". We will make another educational post to explain their product in depth.

https://medium.com/tidal-finance/openswap-launches-insurance-fund-to-cover-up-to-1-million-worth-tvl-through-tidal-platform-bab322b0e7d

🎙 Dear community, this DeFi Friday we would like to provide an important update regarding to the coverage policy, which better aligns the interests between coverage providers and buyers.

📌In short, the update covers the scenarios when exploited funds get returned.

✅Certain amount can be claimed by project team as fund recovery expense.

✅Recovered fund should be returned back to coverage providers (partial or full depending on the net loss)

🙏Special thanks to the security partners in our ecosystem who helped us vet these additional terms - Halborn, BlockSec, Lossless, who will also be providing the fund recovery service to make DeFi a safer place.

https://medium.com/tidal-finance/coverage-policy-update-related-to-fund-recovery-and-return-6fcc5bacabb8

💰 cover miner update 💰

⏰Last 24 hours to lock in your high earnings for next week by providing USDC reserve! Max APR 110% with USDC earning 16% APR.

🚀Coming up cover policy for Bella protocol and OpenSwap are ready for deposit. Edit your basket to add new pools before the current epoch ends. The update will become effective on November 28th to earn USDC and TIDAL incentives.

Make DeFi safe and earn 👉 app.tidal.finance

🚀 Partnership announcement 🚀

🔥We are excited to bring another security expert into tidal’s ecosystem - Lossless.

✅Fund recovery could greatly help coverage providers to mitigate loss risk. We have seen a tremendous need from projects to trace hackers. The Lossless Team has demonstrated the ability to do so.

Read our twitter announcement and more details in the article 👇
https://twitter.com/tidaldefi/status/1462787763955187714?s=20

🎙 Dear community,

Hope you all having a great weekend 🙂 Feel free to join us for an AMA with the QiDAO team on Sunday (November 28) at 3pm UTC on their Discord, in a potential collaboration about insurance coverage to protect protocol users.

https://discord.com/channels/829965540084285450/872608907707682866/914202844494700614

🚀Tidal Staking Pool Reward Extension🚀

Dear Community,

Thank you for supporting the ecosystem and participating in the Tidal staking program. With the current pool size ~491 million, we are excited to announce the extension details:

⏰Current reward period ends in about 14 hours, we will continue the reward right away in the same pool (there maybe minutes gap in between when we setting things up). There is no need for user to do anything.

💰New reward per block is 10 TIDAL, offers ~29% APR at current reserve size.

👌New reward period will last for approximately 30 days.

🏄‍♂️Bi-Weekly Progress Update is here to share with our community:

🔓Over 10.5 Million dollars covered and counting.

💰Max APR of the deposited asset ~ 133% !

🚀Bella Protocol and OpenSwap polices activated and fulfilled with 1 million coverage.

https://medium.com/tidal-finance/bi-weekly-recap-nov-15th-to-nov-26th-79b5eef855f3

🔓Insurance Claim Update🔓

⚠️Yesterday, we were informed that our client @monoX Finance suffered a hack. Upon receiving the news, we promptly reached out to their team with resources to help with recovery.

📌This hack is covered under their current policy, of which MonoX has 1 million USD of active coverage. Our team is taking the necessary steps to process the payout and ensure it is executed correctly.

💪We would like to extend our support to the MonoX team, and express our appreciation in the professionalism and responsibility shown in handling the situation. We also want to emphasize that our team is working diligently to assist with recovery efforts.

🙏Going through a hack is not easy for any project, we would appreciate our community members to show support for their team. Community support plays a key part for a successful recovery.

Twitter tread 👉 https://twitter.com/tidaldefi/status/1466181347169476611?s=20

🎙Dear community,

✅Following yesterday’s announcement, we have started the claim process for the MonoX incident. Read more details below.

🙏The claim and payout process is an important aspect for an insurance protocol to become successful, as it will be a validation of our service. We appreciate our community members' support in helping to execute the process successfully.

https://medium.com/tidal-finance/claim-process-update-1-4dfdeb4116b9

⏰ Dear Community, MonoX's claim proposal will be up for voting in 24 hours. As stated in the last update:

1️⃣1 million USDC will be detected from MONOX reserve pool.
MonoX’s active coverage is 1 million USDC. The total loss amount is around 31 million USD.


2️⃣13,793,103.4 TIDAL tokens will be deducted from the current staking pool.
TIDAL staking pool will reimburse 100k USD in TIDAL tokens to the USDC reserve providers after payout. The reimbursed TIDAL will reflect the average price the day before the hack on Nov.29th. at a price of $0.00725. This is a -2.83% deduction from the total pool.

📩Voting will take place on polygon network, any TIDAL holder can vote, The minimum voting threshold is 30,000,000 TIDAL counts, and the pass ratio is 50%.

🚀New feature launch🚀

🎙Dear community and everyone participating in the Tidal ecosystem, we are very excited to extend our service to clients’ end users, providing individual coverage plans for those who want to take additional precautions of their assets.

1️⃣Protocol end users can now purchase coverage with the project's native token, as well as USDC.

2️⃣No upfront costs or long term contracts required, the coverage plan is automatically extended on a weekly basis. As long as there is enough balance in your payment account, your asset is being covered.

3️⃣The amount of coverage can be adjusted anytime within the account.

4️⃣Concerned on keeping up with the claim when a hack happens? There is no need for individuals to bother filing, damage will be assessed by the project team based on your wallet, and compensation will be made based on your coverage purchase record.

🔥We will be launching several promotion programs soon with our clients. Stay tuned!

https://medium.com/tidal-finance/individual-coverage-plan-d981cc8749a3

⏰Claim Process Update - Voting⏰

🎙Dear Community, we have launched the voting on the platform regarding the monoX insurance claim, voting will last for 48 hours.

1. Connect your wallet to app.tidal.finance, go to governance page
2. Select “Delegate to Me” or “Delegate to Dev”
3. If “Delegate to Me” is selected, vote for “Support” or “Reject”.
4. If “Delegate to Dev” is selected, our team will vote on your behalf. In this case, our team will vote in “support”.

**We are still working on a few things related to frontend display for users to view the voting results. As of right now the votes can be viewed in tx.

**TIDAL token is not locked during the vote (you can still use TIDAL anyway you want after the vote). The vote is counted as a snapshot at the time of the vote.

⚠️Claim Process Update⚠️

🎙Dear Community, there is a minor issue we discovered with the voting process - “delegate” is required before the proposal to count as a valid vote. In other words, we should have given the community some time to “delegate” first, then launch the proposal to vote for “support” or “reject”.

📌As a result, in the next 24 hours we would like to invite anyone who wants to delegate the votes, for those already delegated you don’t need to delegate again.

📩After 24 hours we will activate the proposal, the delegated votes would need to select “support” or “reject” again. For those who have done this step would need to do this step again to count in the vote.

We apologize for the inconvenience, and thank you for the community support to help us execute. 🙏

💪To support our client and friend Solv protocol's important event - IVO (Initial Voucher Offering), we will be hosting an AMA with Ryan cofounder of Solv finance this Wednesday (14:00 UTC Dec. 8th) in our telegram channel.

🔥We will take this opportunity to introduce Solv finance’s mission and use case in detail, the collaboration with tidal, and the ways to participate in their upcoming event.

More information about Solv protocol's IVO event: https://twitter.com/tidaldefi/status/1468085943643033601?s=20

Our admin will help to collect email and BSC wallet address for those who are interested in participating Solv's IVO event.

⚠️Claim Process Update - Voting⚠️

🎙Dear Community, we have ended the “delegate” process and started the “voting” process. For those who have delegated the vote in the last 24 hours, you can now vote for “Support” or “Reject”.

✅Total counts “Support” vs. “Reject“ is displayed in real time.
✅Votes delegated to Devs (us) will be voted for “Support”.

⚠️Claim Process Update - Processing⚠️

🎙Dear Community, we have ended the “voting” and proceed to the next step of payout- That our team will process the payout amount of USDC and TIDAL as mentioned in the proposal.

✅Voting result: “Support” to payout.

The final step could take upto 2 or 3 days. We will keep the community informed with our progress. Thank you all for participating and supporting us in our first claim process. 🙏

📩The result can be viewed in app.tidal.finance under governance as well as on polygonscan.

📌Claim and Payout Update

✅We have successfully completed the claim and payout process for MonoX.with 1 million USDC.

https://polygonscan.com/tx/0x46466fdf175b69e1b6520d167515baa3b3d2a779ca7ea55ac8b7e464bab01701

🙏We have spent additional time to ensure each step is correctly executed and truly appreciate the community’s support and patience during this process.

Claim and payout steps are outlined in this detailed report 👇
https://medium.com/tidal-finance/claim-and-payout-report-monox-4f8216aaf928

🚀We are thrilled to announce another partner to join the covered ecosystem. - QiDao, By adding tidal’s coverage plan, Mai Finance team is adding an additional safety layer to their users’ funds.

🔥Mai Finance’s end users will be able to get covered by depositing $USDC or native token $QI.

🙏Special shout-out to polygon ecosystem fund: To increase polygon native projects safety measures, the polygon ecosystem fund granted 10k USD in MATIC as extra incentives for Mai Finance’s coverage pool.

💰Coverage providers will be able to earn USDC, TIDAL and MATIC by supporting QiDAO’s coverage pool starting next week.

https://medium.com/tidal-finance/mai-finance-launches-insurance-fund-to-cover-up-to-1-million-worth-tvl-through-tidal-platform-8e45d7c27df3