According to BlockBeats, on July 2nd, insurance platform Athena Ins introduced decentralized insurance aimed at DeFi risks. This platform allows individuals to subscribe to insurance, safeguarding their DeFi investments from various threats, including hacker attacks, smart contract vulnerabilities, and stablecoin depegging.
Unlike traditional insurance companies, Athena Ins operates through smart contracts, eliminating the need for centralized intermediaries and ensuring transparency and decentralization. Users can easily protect their deposits on DeFi protocols and receive compensation in the event of an insured incident.