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What is ARMOR (ARMOR)?

Armor (ARMOR): A Decentralized Shield Against DeFi Risks

In the fast-evolving landscape of decentralized finance (DeFi), security is paramount. With the rise of various protocols like Uniswap, Sushiswap, AAVE, Maker, and more, users face unprecedented risks due to potential smart contract vulnerabilities. Enter Armor (ARMOR), a groundbreaking protocol founded by Azeem Ahmed in 2021, offering a decentralized brokerage for cover underwritten by Nexus Mutual's blockchain-based insurance alternative.

What is Armor?

Armor is not just another DeFi protocol; it's a robust defense mechanism designed to protect users' funds held across a spectrum of DeFi platforms. The protocol operates on a self-adjusting, pay-as-you-go model, making it easy for users to safeguard their investments against smart contract risks.

How Does Armor Work?

The protocol detects changes in users' balances on supported DeFi protocols and prompts them to adjust their coverage plans accordingly. Billing is done by the second for the exact amounts protected on each protocol, ensuring users only pay for the coverage they need. In the unfortunate event of a platform hack, approved claims lead to full compensation for losses, following Nexus Mutual policies.

Unique Features of Armor:

Permissionless Access: No sign-up is required, providing users with a hassle-free experience.

Pay-as-You-Go Coverage: Users can enjoy flexible coverage across various protocols, paying only for what they owe.

Automated Smart Cover System: Armor utilizes arNFTs (non-fungible, transferable tokens) to represent cover amounts on specific protocols for defined durations. Stakers mint and stake arNFTs to provide coverage against protocol contracts, earning staking rewards in the process.

Enhanced Security Through Nexus Mutual: All of Armor's cover is underwritten by Nexus Mutual, a trusted blockchain-based insurance alternative.

The Importance of arNFTs:

An arNFT is a token representing Nexus Mutual cover, providing a transparent and transferable way to secure funds on DeFi platforms. It signifies a certain amount of cover, duration, and the targeted protocol, making it ERC721 compatible for easy transfer without the need for KYC.

In an era where DeFi applications are prime targets for hackers, Armor stands out as a robust, user-friendly solution. By seamlessly integrating with Nexus Mutual's underwriting capabilities and employing arNFTs, Armor ensures that users' funds are shielded in the most efficient and effective manner possible. With its pay-as-you-go model, flexibility, and permissionless access, Armor is at the forefront of safeguarding the decentralized financial ecosystem, providing users with peace of mind in an ever-evolving digital landscape.

What is unique about ARMOR (ARMOR)?

Armor stands out with its decentralized brokerage, providing easy, pay-as-you-go coverage against smart contract risks across popular DeFi protocols like Uniswap, Sushiswap, and more. Its use of arNFTs, backed by Nexus Mutual, ensures users have a flexible and secure way to protect their investments.

Who are the founders of ARMOR (ARMOR)?

Armor was founded by Azeem Ahmed in 2021, establishing a visionary leader at the helm of this decentralized protocol designed to fortify users against potential risks in the ever-expanding DeFi landscape.

Who are the backers/investors of ARMOR (ARMOR)?

The backing force behind Armor comes from Nexus Mutual, a trusted blockchain-based insurance alternative. By partnering with Nexus Mutual, Armor ensures a solid foundation for its decentralized cover, instilling confidence in users seeking reliable protection for their DeFi investments.

Where can I buy ARMOR (ARMOR)?

You can buy ARMOR (ARMOR) on Uniswap V2 (Ethereum), Sushiswap cryptocurrency exchanges.