Armor (ARMOR) offers a decentralized brokerage, using arNFTs underwritten by Nexus Mutual, allowing users to easily and flexibly protect DeFi investments against smart contract risks. More
| Fully Diluted Valuation | $360,101 |
|---|---|
| 24H Trading Volume | $8 |
| 24H Low / High | $0.00 / $ 0.00 |
| Circulating Supply | 237.39 M |
| Total Supply | 750.00 M |
| Max Supply | 1.00 B |
| Categories | Decentralized Finance (DeFi) 5 more |
|---|---|
| Founder | Azeem Ahmed |
| Website | armor.fi |
| Socials | 1 more |
| Chains | Ethereum Ecosystem |
| Explorer | Etherscan 2 more |
| Contracts |
0x133....fe46a
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| Name | Pair | OG Score |
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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.
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.
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.
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.
You can buy ARMOR (ARMOR) on Uniswap V2 (Ethereum), Sushiswap cryptocurrency exchanges.
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There may be different staking options available such as to participating in DAOs, decentralized governance and revenue sharing. Please watch out for scams. Only consider staking options promoted on the official website of the project and advised partners. Please click here to see the official links and make sure to follow the latest instructions.
This data is dynamic and varies depending on the number of tokens that are being vested/vesting, removed from circulation because of network transactions or burned permanently and staking reward distribution mechanism. According to self-declared data the circulating supply of ARMOR (ARMOR) is ($237,391,731), max supply of ARMOR ARMOR is ($1,000,000,000) and the market cap of ARMOR ARMOR is ($113,980).
What is the ARMOR (ARMOR) price prediction?
Predicting prices in the crypto market is highly speculative and can't be definitively stated. Various factors drive price movements such as macroeconomics, Bitcoin ($btc) and crypto market overall behavior, on-chain activity, whale positionings, growth potential of the project etc. We cannot give any price predictions nor financial advice, but you can look at our comprehensive data, expert user reviews and decide if the product suits your needs! Please do your own research DYOR!
The current market price of ARMOR (ARMOR) is $0. As the OGAudit community we mainly focus on features such as use cases, product development, and sustainable growth. However, we also provide real-time market data and coin/token statistics, analytics, price history for popular altcoins. see here.
It is important to do comprehensive research before deciding whether ARMOR (ARMOR) or any other cryptocurrency is a good investment. We believe you should ask each of these questions before deciding to invest or make partnerships with any crypto project:
Is this type of digital asset considered legal in your country?
Does Coin (ARMOR ARMOR) solve a good problem or offer the best solution?
Do products and services work effectively, and solutions are scalable?
Does the team have a realistic roadmap and can catch up with it?
Does ARMOR (ARMOR) have reasonable and sustainable revenue income models?
Can the team market their products and services well?
How decentralized is the governance and how strong is the community?
Has it reached its fair market value yet?
Does the coin/token have enough trading pairs and liquidity?
As the OGAudit community crypto experts, we evaluate crypto projects by asking each of these questions and more, to provide objective and reliable comments and ratings for the end-user, investors, and institutions. By carefully considering these reviews, ratings, and price action, you can decide whether ARMOR (ARMOR) is a good crypto to invest in or not. To access these evaluations and ratings please click here . The OGAudit experts are the largest, most experienced, and elite users in the crypto space. However, keep in mind that the scores, expert reviews and comments on our platform are OGAudit users’ personal views and meant for educational purposes only. None of the information we publish on our website contains any investment advice and should not be perceived as such. Always -DYOR- do your own research well.
