Bridge Mutual or BMI is a decentralized finance platform (DeFi). The DAO-managed discretionary risk coverage platform is based on the Ethereum network. Bridge Mutual is a permissionless as well as a decentralized risk coverage platform. Therefore, it provides risk/insurance coverage for stablecoins, smart contracts, and other services. Moreover, the platform allows users to purchase risk coverage for the funds, vote on policy claims, receive compensation, etc.

Bridge seeks to provide coverage of three types: smart contract coverage, stablecoin coverage, and exchange coverage. Users from stablecoin coverage get protected from price crashes. The platform also plans to introduce more traditional coverage in the blockchain network. The Bridge Mutual platform also functions on multi-chains, and hence exchange through its multi-chain strategy is made easy.

The whitepaper states there have been many attacks in crypto assets that brought a demand for risk-mitigating solutions. Projects generally reduce the risks from bugs, hacks, or exploits by hiring third-party smart contract auditors. In order to solve this, the platform provides smart contract coverage policies for the assets. Moreover, Bridge Mutual also enables its users to create and provide liquidity for a smart exchange contract in exchange for yield3. Furthermore, the platform plans to start a dApp and a mobile version to offer users rewards.

Users need to purchase the BMI token and stake in Bridge coverage pools to participate in the platform. The token can be used to vote and improve the platform and help in remaining secure, transparent, and competitive. Users in the platform may earn BMI tokens by providing coverage in the stablecoins, staking the current BMI token, voting on the coverage claims, and providing liquidity in Uniswap. Users may also receive multi-token rewards and branding benefits on the platform.

Mike Miglio is the cofounder, CEO, and helm of the project. Mike is responsible for all the financial decisions on the platform and token.

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