Tsukiyomi Group Announces Strategic Investment in Bright Union ($BRIGHT)
Tsukiyomi is proud to announce its new strategic investment in the Bright Union project.
Because the DeFi space is new and has yet to truly mature, it often struggles with exploits, hacks, and smart contract failures. All of these result in hurting everyone from retail investors to Mark Cuban. It is one of the major issues holding DeFi back from mainstream acceptance. Bright Union plans on changing that.
Bright Union is an innovative DeFi insurance platform. Just like you insure a car or house, Bright Union gives you insurance to guarantee that you will be getting those amazing (and riskier) DeFi interest rates.
However, unlike traditional insurance, Bright Union offers insurance without losing its decentralization dignity. Bright Union is set up as a DAO (decentralized autonomous organization), making it transparent, auditable, and democratic. This significantly cuts the risk of corruption that insurance companies are known for.
Bright Union’s native token, $BRIGHT, gives the ecosystem of products functionality. $BRIGHT is used for governance in its DAO, can be grown through insured staking, makes up the project’s treasury, and gets its holders a premium membership with perks. These utility and governance functionalities incentivize users to hold and provide liquidity. This should help Bright Union grow and mature into a reliable system much faster.
The project’s staple product is its insured yield aggregator. Like other DeFi yield aggregators, users will be able to easily stake tokens to earn incredible interest rates while the platform does the hard work. Yield aggregators automatically stake user’s tokens in platforms at optimal ratios and auto compound the earnings.
Bright Union’s yield aggregator goes a step beyond the others by insuring users’ interest rates. Users can be confident they will get returns and don’t need to worry about the unreliable condition DeFi lives in today.
The project will offer this insurance through its partnerships with Bridge Mutual and Nexus Mutual. These partnerships allow Bright Union to access the projects’ protocols to integrate into Bright Union’s own products. Bright Union also plans to team up with more insurance projects to further diversify its insurance platform, making it more stable and robust.
Lastly, the Bright Union project is compatible with multiple chains including the Binance Smart Chain, Ethereum, Polkadot, Solana, and more. This multi-chain compatibility makes the project diversified against the success and failures of the chain it’s running on. This removes any dependency on the success of one chain and widens its potential user base. Additionally, being multi-chain gives the platform the ability to take the best of each chain without the compromises like high gas fees or more centralized mining nodes.
It’s obvious Bright Union is future proofing itself for the long-term and plans to become a seamless ecosystem of products making DeFi a safer and more reliable system. Tsukiyomi is excited to help Bright Union change the DeFi sector for the better.
Website: Bright Union
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Medium: Tsukiyomi Group