Building RWA Crop Loss Insurance Cover With Atomica
LandX (the leading agricultural DeFi protocol) and Atomica (the leading DeFi insurance cover protocol) are thrilled to announce a groundbreaking partnership.
This collaboration aims to integrate crop insurance products into the DeFi ecosystem, offering unprecedented security and growth opportunities for investors and farmers alike.
Innovative Crop Insurance Cover
Atomica's mission has always been to shield investors from significant financial losses. By integrating with LandX's expertise in agriculture, this partnership will provide robust insurance cover for crop failures. This initiative is expected to attract more users and investments, contributing to the rapid growth of both companies' user base.
The collaboration's initial focus is on providing insurance for four key crops in select locations. The partnership aims to offer comprehensive coverage at competitive rates. Following a successful initial phase, the plan is to expand the insurance offerings to eight unique regions, potentially establishing 32 or more specialized insurance markets.
Key to this initiative is the integration of cutting-edge blockchain technology. LandX and Atomica are in the process of finalizing the system, which requires specific weather barrier parameters for the crops to release an insurance payout. It promises to offer a safety net to farmers and investors, encouraging more significant participation and investment in the agricultural sector through decentralized platforms.
We're thrilled to aid our partner, LandX.fi, in establishing the RWA risk market for Crop Loss Protection. This protection serves as a vital risk-reduction tool for both farmers and of xCrop and xBasket holders tokens. As a First step, the LandX team will acquire Crop Loss Protection, offering assurance to xCrop and xBasket token holders, allowing them to reap the yield without worry.
Accessible and affordable crop insurance minimizes risks for investors, enabling the provision of cost-effective capital to farmers in emerging markets. This support contributes significantly to improving food safety situations in developing countries.
About LandX
LandX offers perpetual commodity vaults which offer inflation hedged, uncorrelated exposure to farmland production.
Atomica.org is a protocol to deploy two-sided insurance markets. It is built for Web3 protocols, ecosystems and investors to launch their protection markets, offer protection to their users, or on the other side earn yield on the capital backing protection covers.
Its mission is to reduce risk by offering a range of protection options and provide capital efficiency for liquidity providers (underwriters).
Research and development of Atomica was funded by grants from Maker DAO, Balancer, Filecoin, The Graph and Protofire.
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Please note LandX products are not available to US users.
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