Brevis partners with USD8 to build decentralized insurance system

Brevis, a Zero-Knowledge (ZK) verification computing platform, has announced a partnership with stablecoin protocol USD8 to establish a decentralized insurance compensation system. USD8 is a stablecoin protocol with a built-in DeFi insurance function that allows users to accumulate points based on the duration they hold assets. In the event of a hack or de-pegging at a major DeFi protocol, users can receive compensation based on their accumulated points. Brevis plans to use its decentralized marketplace, ProverNet, to calculate these points via ZK proofs, replacing the need for traditional centralized servers. This partnership aims to meet the criteria of the walk-away test, a concept highlighted by Ethereum founder Vitalik Buterin that describes a system capable of functioning without its original operators. USD8 is targeting a beta launch in the second quarter.