Tidal Finance is a New York–based startup building a DeFi insurance application on the Polkadot blockchain that pools liquidity to insure multiple decentralized finance applications against smart-contract failures or breaches. Its core product backs multiple applications from a single liquidity pool to improve capital efficiency, and it plans three risk-tiered pools (low, moderate, high) with as many as 20 applications in lower-risk pools at launch. The team chose Polkadot for lower gas costs and cross-chain liquidity prospects, and notes that applications do not need to be native to Polkadot—early covers will likely include Ethereum-based DeFi. Tidal issued a TIDAL token that captures a portion of origination fees and functions as a governance token, with a fixed supply of 20 billion tokens. A disclosed distribution allocates roughly 12% to the token sale, 10% to the team, 12% to a liquidity mining program, and 39% to staking rewards, with the remainder split between reserve, treasury and ecosystem. The company raised a $1.95 million seed round for the TIDAL token and expects the first insurance pools to go live in Q1 2021.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Dec 2020