Brevis, Partnership with USD8... Building a Decentralized Insurance System

Zero-knowledge proof (ZK) based verification computing platform Brevis (BREV) announced that it has signed a partnership with stablecoin protocol USD8 to build a decentralized insurance compensation system. USD8 is a stablecoin protocol with built-in DeFi insurance functions. Users accumulate points based on the time they hold assets, and can receive compensation based on their points in the event of a hack or de-pegging in major DeFi in the future. Brevis plans to calculate points using zero-knowledge proofs through its own decentralized marketplace ProverNet, replacing existing centralized servers. This partnership is a measure to satisfy the walk-away test (a system that operates without an operating entity) emphasized by Ethereum (ETH) founder Vitalik Buterin. USD8 aims for a beta launch in the second quarter.