Bright Union Closes Venture Investment & Plans to Launch IDO & Trading Today August 5th on PAID's Ignition & Uniswap

LOS ANGELES, Aug. 5, 2021 /PRNewswire/ -- Bright Union today announced that it had closed its venture capital raise of approximately $1mm and that it would perform its Initial Dex Offering (IDO) Public Sale today on August 5th on PAID's Ignition, Moonstarter and Poolz IDO Launchpad platforms and begin trading today on Uniswap under the symbol "BRIGHT". The venture capital raise of nearly $1mm was heavily oversubscribed and led by industry heavyweights including Three M Capital, Master Ventures, Faculty Capital, Tsukiyomi, Altvestor & several C-level CeFi insurance firms and aggregators. Bright Union also announced the addition of industry heavyweight Orion Depp, Managing Partner of the Master Ventures Polkadot VC Fund, as its IDO Advisor.

Bright Union Head of Operations Christian Van Paridon stated "Our Venture Capital raise was unique. Rather than spread the investment amongst various crypto VCs, our strategy was to partner with long-term strategic investors such as traditional Centralized Finance Insurance aggregators and heavyweights like Three M Capital, Master Ventures and Faculty Capital who plan to support the DeFi and web 3.0 infrastructure and who have vouched to deploy significant amounts of capital into our DeFi aggregation product and insurance partners. More importantly, unlike other crypto projects, we are focused not only on our IDO but on our Mainnet launch within the next 30 days after our IDO and Uniswap listing."

Guy Oren, CEO of Poolz Finance went on to say "The risks involved in the crypto space are multifaceted, from the chances of failure of a smart contract to that of hacks and thefts. To build trust, it is critical that users be assured about their protection from these mishaps. This is why, we are excited to be collaborating with Bright Union, which we're sure can massively impact the protection of users' funds in crypto."

Orion Depp, Bright Union IDO Advisor and Managing Partner of the Master Ventures Polkadot VC Fund stated "I chose to work with Bright Union because the relationships they've made are long-lasting, with individuals and entities that I've known my entire crypto career, companies such Bridge Mutual, & Nexus Mutual, and platforms such as Solana & Polkadot. Also, as a former sell-side crypto investment analyst I've seen DeFi investors lose large amounts of money due to Impermanent Losses and exploits in flash loans on AAVE and leveraged DeFi vaults on Alpha Homora. These make it tough for serious crypto investors to sleep at night and live better lives. Bright Union may ultimately make a positive impact on the crypto and decentralized finance community as a whole."

Mohamed K., CEO of Moonstarter, stated "While rug pulls became an almost current practice, we have been wondering why we have not yet seen projects offering insurance kind of products. Bright Union seems to be one of the first tackling this tricky topic but not only, offering a wide range of coverages.

About Bright Union

Bright Union is on a mission to become the world leading blockchain-agnostic aggregator and accelerator for the DeFi coverage market (crypto's alternative to insurance). Bright Union aims to become an accelerator for the entire crypto overage market. It will do so by launching a set of accelerating products aimed at making the space 10x more efficient such as the Bright Union Risk Index, secondary markets and cross-locked collateral pools for the underlying risk platforms. With their strong financial, insurance and crypto background the Bright Union team sees ample opportunities to create a bridge with the "real world" with the goal to disrupt centralized insurance.

Bright Union's Main Net launch is scheduled for early September. Bright Union partners include Nexus Mutual, Bridge Mutual, Cover Protocol, Fractal, Killer Presentations and Lepshey. Bright Union is venture-backed by three M Capital, Master Ventures, Faculty Capital, Tsukiyomi, Altvestor as well as several C-level CeFi insurance and aggregator specialists. The Team, Litepaper, Tokenomics and other info can be found on their website, https://brightunion.io/

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Contact:

Orion Depp

http://www.omni.ai/[email protected]

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SOURCE Bright Union