TM Rating: 84%
February 16th, 2021
Armor is a smart cover aggregator for DeFi which provides Pay as You Go coverage for user funds across various protocols. It allows its users to protect their investments against smart contract risks across popular protocols such as Uniswap, Sushiswap, AAVE, Maker, Compound, Curve, Synthetix, Yearn, RenVM, Balancer, and more. The insurance protocol is underwritten by Nexus Mutual. Armor tracks exact amounts of user funds as they dynamically move across various protocols, and bills by the second using a streamed payment system resulting in minimized costs and maximized flexibility. Armor is an interesting protocol if you want security when using DeFi solutions as it makes use of the existing Cover protocols and adds a layer on it to provide better flexibility for the user. As the volume moved in DeFi is still increasing over time and new projects are racing to get their product out, this type of protocol is worth knowing and taking advantage of.