Armor Fi

Ease (formerly known as Armor) offers a DeFi coverage aggregation platform that leverages Nexus Mutual as its coverage underwriter to enable users to insure DeFi assets against hacks. It uses a tokenized and permissionless system. Users can buy covers (which can be sold, traded, and/or staked), swap and deposit their Nexus Mutual (NXM) tokens to earn yield, and auto-protect their liquidity positions without additional costs. The protocol functions as a DAO and is governed by its native EASE token.

As of January 2022, Ease covered smart contract risks on over 100 DeFi protocols and custodial wallets of several DeFi users, from liquidity providers to yield farmers.

In March 2022, following its rebrand to “Ease,” the company launched a new form of coverage that isn’t underwritten by NXM and operates under a “reciprocally covered assets” model. Dubbed “Uninsurance,” the new solution will leverage a pool of covered assets as collateral to provide cover against hacks, scams, and rug pulls, enabling users to swap directly from Ether to an underlying yield-bearing token wrapped with perpetual coverage. Moreover, this system enables users to cover their assets without paying premiums or fees.