Chainproof is the first regulated cyber-insurance provider for non-custodial smart contracts, offering tailored insurance policies to institutional investors in decentralized applications. Its policies include real-time monitoring and incident response, minimizing potential losses from hacks and ensuring compliance with regulatory standards.
Funding
$6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Institutional investors in decentralized applications (dApps) face the risk of principal loss due to hacks and exploits of non-custodial smart contracts. Traditional insurance models often lack the real-time monitoring and incident response capabilities required to mitigate losses effectively in the rapidly evolving Web3 landscape. Proof-of-stake validators are also vulnerable to slashing penalties, further compounding the financial risks.
Solution
Chainproof provides regulated cyber-insurance policies specifically designed for non-custodial smart contracts, offering institutional-grade protection against principal loss. Policies are tailored for institutional investors and professional validators, with customization options for loss definitions, inclusions, and exclusions. Chainproof's insurance policies are bundled with real-time monitoring and alerting services powered by Quantstamp, enabling policyholders to react swiftly to potential hacks and minimize losses. Chainproof is backed by Sompo and reinsured by Munich Re.
Target Audience
Chainproof serves asset managers, non-custodial crypto platforms seeking principal protection for on-chain crypto assets, and proof-of-stake validators requiring slashing protection.
Features
- Regulated cyber-insurance policies for non-custodial smart contracts and DeFi platforms
- Real-time monitoring and incident response powered by Quantstamp's blockchain security software
- Customizable policies with flexible loss definitions, inclusions, and exclusions
- Coverage for slashing penalties incurred by proof-of-stake validators
- Backed by top global insurers, including Sompo and Munich Re