About

Ease is a DeFi native insurance solution. Using a reciprocally-covered assets ("uninsurance") approach it avoids the need for premiums, underwriters & policies.

The project has attracted some well known Crypto investors such as Alameda Research (founded by Sam Bankman-Fried) & Delphi Ventures.

History

The project was originally founded under the name Armor and launched in January 2021.

It started as an aggregator to Nexus Mutual which provided a way for investors to purchase nexus coverage or stake as a risk provider. This was done on a KYC-free basis, providing a way for users to interface with Nexus that aligned with crypto-native ideology. The product expanded in Q2 2021 with the launch of arCore, the first pay-as-you-go model of coverage seen in the blockchain space. This was shortly followed by arShield, a method that allowed for passive coverage to users that deposited assets directly into covered vaults, instead of purchasing policies. This was achieved this by using a shared pool of coverage policies to secure all the vaults. This lead to the Armor team thinking what if the vaults directly shared risk, and provided the coverage themselves rather Rather than sharing coverage policies.

In October 2021 the team revealed the model for this project, called Reciprocally-Covered Assets. It was the first DeFi native coverage model, and utilized an interconnected vault system that would distribute losses among themselves if a hack occurred. This model removes the need for premiums, underwriters, and policies. Users receive coverage-wrapped tokens that would only be slashed if a hack occurs. This new model meant a change in scope that moved Armor beyond being just a Nexus aggregator.

In March 2022 the team officially rebranded to Ease and dubbed the RCA model "uninsurance".