FairSide Network is a decentralized cost-sharing platform that provides cryptocurrency users with theft protection against over 30 types of scams and attacks, including phishing and malware. By charging a low annual fee of 1.95% of the desired coverage amount, FairSide ensures members receive swift payouts for losses while maintaining full control of their assets.
Funding
$4.2M 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
Cryptocurrency users face a significant risk of theft and scams, including phishing, malware, and social engineering attacks, leading to substantial financial losses. Traditional insurance models are often inadequate or unavailable for covering digital assets, leaving users vulnerable. The self-custodial nature of crypto assets places the burden of security entirely on the user, increasing the potential for loss.
Solution
FairSide Network offers a decentralized cost-sharing platform that provides cryptocurrency users with protection against over 30 types of theft and scams. Members pay an annual fee of 1.95% of their desired coverage amount, ranging from 1 to 100 ETH, to gain comprehensive protection for all assets held within their wallets across 12+ chains. In the event of a loss, members can file a claim and recover 90% of their assets after a review process facilitated by security experts. FairSide's model combines traditional risk management principles with blockchain technology to provide a transparent and community-aligned alternative to traditional insurance. The platform supports multi-wallet coverage, allowing users to link up to 10 wallets under a single membership.
Target Audience
FairSide Network targets cryptocurrency users who self-custody their digital assets and seek protection against theft and scams, including individual investors, NFT collectors, and decentralized finance (DeFi) users.
Features
- Coverage for 30+ types of theft and scams, including malware, phishing, and network security breaches
- Protection for all assets held within the wallet, including ETH, altcoins, NFTs, and RWAs
- Flexible coverage amounts ranging from 1 to 100 ETH
- Support for multiple wallets (up to 10) across 12+ chains under a single membership
- Transparent claims process with on-chain voting by a decentralized security council
- Partnership with security firms like NAXO for claims handling and investigations
- Integration with Revoke.Cash and CommonWealth platforms
- KYC via Synaps is only required when filing a claim