Web3Shield is pioneering a new standard of security in the decentralized world by offering a comprehensive, user-centric insurance layer. Designed to protect digital assets across various blockchain activities, it brings peace of mind to users engaging in restaking, bridging, and other Web3 transactions. This innovative approach aims to mitigate risks and foster greater adoption by making insurance simple, accessible, and integrated directly into the user experience.
Core Insurance Solutions
Web3Shield provides specialized insurance products that address critical vulnerabilities in the Web3 ecosystem. Each solution is engineered for ease of use, offering one-click protection without disrupting workflow.
EigenShield: EigenLayer Restaking Insurance
EigenShield allows users to insure their restaked liquid staking tokens (LSTs) on EigenLayer with a single click. Whether interacting directly with EigenLayer or through an operator, users can obtain immediate coverage, safeguarding their assets against potential slashing risks or protocol failures.
BridgeShield: Cross-Chain Bridge Insurance
BridgeShield offers seamless insurance for cross-chain transactions. Users moving assets between blockchains can activate end-to-end protection in one click, reducing the risks associated with bridge hacks or transaction faults. Crypto bridges can also integrate this feature natively to enhance their security offerings.
Ecosystem Native Products
Beyond these core solutions, Web3Shield partners with various Web3 projects to develop custom, native insurance products. These tailored solutions help ecosystems offer built-in protection, reimagining how insurance functions in a decentralized environment.
Key Features of Web3Shield
Web3Shield stands out through its flexible distribution methods and user-focused features, making advanced security accessible to everyone.
Distribution Modes
Users and integrators can choose from multiple distribution channels:
- Browser Extension: A browser add-on that injects insurance options directly into restaking platforms, EigenLayer operators, or crypto bridges.
- Insurance SDK: A software development kit allowing EigenLayer operators, bridges, and other platforms to embed insurance widgets seamlessly.
- Lumpsum Insurance: A tailored option for long-term coverage, protecting all restaking and bridging activities within set transaction limits and durations.
The $SHLD Utility Token
The $SHLD token is the backbone of the Web3Shield ecosystem, enabling a simple, one-click insurance process for retail users. It offers multiple utilities:
- Discounted Policies: Users paying premiums with $SHLD receive significant discounts.
- Deflationary Mechanism: A portion of platform revenue is used to buy back and burn tokens, reducing supply.
- Reinsurance Rewards: Token holders can provide coverage to the protocol and earn $SHLD rewards.
- Zero Fee Insurance: Staking $SHLD grants access to insurance with no fees for restaking or bridge transactions.
- Insure to Earn (I2E): Policyholders receive a percentage of their premium back if their transaction remains unhacked.
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Expanding the Product Suite
Web3Shield is continuously developing new products to cover a wider range of risks in the Web3 space.
Current Core Offerings
- EigenLayer Restaking Insurance: Atomic one-click coverage for the entire EigenLayer economy.
- Crypto Bridge Insurance: One-click protection for users performing cross-chain transfers.
- General Transaction Insurance: Micro-insurance policies for any on-chain transaction.
Future Insurance Products
The roadmap includes expanding into new verticals to build a full-spectrum risk management layer for Web3:
- Private DeFi Insurance: Coverage for private decentralized finance applications.
- Bridge LP Insurance: Protection for liquidity providers on crypto bridges.
- Wallet Insurance: Policies for wallet providers and their users against exploits.
- RWA Insurance: Coverage for tokenized Real World Assets.
- Trading Insurance: Insured profit/loss positions and portfolio coverage.
Frequently Asked Questions
What is Web3Shield?
Web3Shield is a decentralized insurance protocol that provides a security layer for Web3. It offers user-centric, one-click insurance products for activities like restaking on EigenLayer and cross-chain bridging, aiming to protect digital assets from various risks.
How does the one-click insurance work?
The one-click functionality is integrated directly into partner platforms or via a browser extension. When a user initiates a transaction like restaking or bridging, they can click an option to instantly purchase insurance coverage without leaving the interface, making the process seamless.
What is the $SHLD token used for?
The $SHLD utility token powers the Web3Shield ecosystem. It is used to pay for insurance premiums at a discount, stake for zero-fee policies, participate in reinsurance for rewards, and benefit from a deflationary model where revenue buys back and burns tokens.
Can crypto projects integrate Web3Shield?
Yes, projects like bridges, EigenLayer operators, and DeFi platforms can integrate Web3Shield’s insurance products using its Software Development Kit (SDK). This allows them to offer native, seamless insurance to their users, enhancing their platform's security.
Is Web3Shield only for advanced users?
No, a core mission of Web3Shield is to make insurance accessible to everyone. The one-click model and simple interface are designed for retail users, abstracting away complexity while providing powerful protection for their digital assets and transactions.
What makes Web3Shield different from traditional insurance?
Web3Shield operates on blockchain technology, offering transparency, instant payouts through smart contracts, and seamless integration into Web3 activities. Its products are designed specifically for the unique risks of the decentralized world, like smart contract bugs and bridge hacks.