Insurance is still a niche player in the DeFi ecosystem. But as the insurance space matures and with the entry of institutional players, insurance may grow into one of the biggest pillars in DeFi. Read on to learn more about the current DeFi insurance market and how it may fare in the future.
As Decentralized Finance (DeFi) projects continue to innovate rapidly, we see an increasing amount of hacks happening with larger amounts of losses. There are 21 publicly reported major DeFi security hacks since the second half of 2019, causing more than $165 million in losses.
Adoption will stall if this space only welcomes high-risk takers. Having insurance is a critical step in attracting more users to this space.
Subscribe to CoinGecko Premium to unlock this exclusive article
Want access to ad-free CoinGecko, exclusive publications & many more? Subscribe to a Premium account now!
Already a Premium user?
Log in
