We are excited to announce that our cover marketplace is now live on the Arbitrum blockchain.

https://arbitrum.neptunemutual.net/

Layer 2 scaling solutions have seen very strong growth over the past year or so because of the advantages they offer to users in terms of lower gas fees and faster transaction speeds whilst maintaining the security of Ethereum’s layer 1 solution. Arbitrum has captured the lion’s share of the layer 2 growth and has over 2 billion USD in total value locked (TVL).

Arbitrum is an optimistic rollup scaling solution which means that smart contracts run “off” the Ethereum blockchain, and are “optimistically” assumed to be valid. The proof of the smart contract state on Arbitrum is validated on the Ethereum blockchain on a regular basis to maintain the security and transparency of the Arbitrum blockchain. For more information about the benefits of Arbitrum read our blog Arbitrum Layer 2 for Scalability and Efficiency.

The higher transaction throughput and lower gas fees associated with Arbitrum will help scale Neptune Mutual’s DeFi insurance protocol. In particular, cover creators will be able to develop new cover pool liquidity bootstrapping strategies based on microtransactions from smart contracts within their own protocols. This opens up a completely new mechanism to enhance composability of cover pool liquidity for users within DEXs, CEXs and other blockchain projects.

We are thrilled to be able to offer our community the benefits of the Arbitrum scaling solution and hopefully leverage these benefits to scale adoption of cover protection to make the blockchain industry a more well protected and secure environment for users.