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Opium and UMA Join Hands to Launch Crypto Decentralized Insurance for SpaceX Flights
May 25 2021 · 11:55 UTC by Bhushan Akolkar · 3 min read
Photo: Official SpaceX Photos / Flickr Share this article
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Opium’s decentralized insurance contracts will work in accordance with UMA’s oracle solution that will offer derivative financial products for hedging the risks associated with SpaceX flights.
Opium, the crypto derivatives protocol, has joined hands with decentralized finance (DeFi) platform UMA to offer decentralized insurance products for SpaceX flights. Opium also made this official announcement on Monday, May 24.
The announcement notes that Opium’s decentralized insurance contracts will work in accordance with UMA’s oracle solution. Thus, the ultimate goal is to bring real-world space data on the blockchain platform. Interestingly, Opium referred to this decentralized insurance for SpaceX flights as a new ‘cosmic