Recap of the Bright Union AMA with Blockchain Space

On Monday, July 5th, we had the pleasure to welcome to our Telegram chat:

Michiel Slootweg, The Founder,

Steven, The Product manager at Bright Union, and

Cynthia de Wolf, The Marketing lead at Bright Union.

We asked them questions about the development of Bright Union.

INTRODUCTION

Q~ Thanks for joining us today. Please start off by introducing yourself to the Blockchain Space community and your role in the team ?

A~

Steven : Hi, I’m Steven, Product manager. a corporate consultant turned Tech-nerd 🤓. My path went from working 70+ hours in a suit to building a digital healthcare ecosystem in Africa 🌍. Now loving the crypto space!!! 🚀

Cynthia de Wolf : Hey everybody, good to be here, and tnx for hosting us. I’m Cynthia. Marketing lead. +10 yrs experience. Tech enthusiast + Tree hugger. Started in the social good sector, acquired the lean + growth mindset there. Love helping startups with growth. Have experience with other crypto projects.

Michiel is our Founder. He has a strong background in the insurance space and is the grey fox in the team.

Michiel Slootweg : Exactly, this ancient know how can still be relevant in the blockchain world. I have also a background in insurtech though.

Q~ Tell us what Bright Union is, how it works, and what kind of value the Risk Aggregator adds to the ever expanding DeFi ecosystem ?

A~ Sure, Bright Union is a DeFi coverage (“insurance’’) aggregation platform.

On the platform you can:

  1. Cover: As a crypto user you can easily protect your capital from hacks, smart contract fails, and rug pulls.
  2. Stake: Crypto users can also provide coverage to other users (by staking) and earn for being an ‘insurer’.

The aggregator makes it possible to compare, buy and manage crypto coverages on different platforms from a single interface. It’s more user friendly to buy all your covers for all your assets from one place. It would be a waste of time to login to multiple risk platforms at once.

Think about all industries where the aggregator owns the space (Booking, Amazon, Netflix)🤔

Q~ Can you share with us detailed information on the $BRIGHT tokenomics and it’s usecases ?

A~ Of course, the $BRIGHT token utility is for

1) Staking by users

2) Rewards / loyalty / discounts

3) Governance

1). BRIGHT Tokens can be staked with Bright Union. We practice what we preach so staking BRIGHT token comes with an embedded insurance! 💎

But also: 2). Bright members will get access to premium products & discounts and preferential access to regular products. The first premium product will be the Bright Union Index Tracker: Invest in index funds with maximum return at minimum risk. 💪💪

And to top it all up: 3). Bright Union will be organized as a DAO. Members can do governance votes for changes to our protocol, the roadmap and treasury fund allocation.

Xiaolin : The tokenomics has not been released yet right?

Cynthia de Wolf : Yes it is, article just been published:

detail about the token economics

Q~ Did you raise funds so far? If so, how did you handle them? Are you planning to do any future raises ?

A~ We almost completed the private round and raised over $500K.

IDO is scheduled for mid July. We will make a public announcement on this shortly, but here is a bit of a scoop for you guys.

#jointheunion for updates:

👉 https://t.me/brightunion

👉 https://twitter.com/bright_union

🤩 You can also participate in our creative contest and win a spot on our private sale or win up to $2000 BRIGHT Tokens:

We love memes and gifs. Also happy to have content translated in other languages :)

Q~ Can you give us an update on what the team at Bright Union has accomplished till date and your future plans for Bright Union ?

A~ Let me share, I’m very excited of what we achieved so far:

As a DeFi coverage aggregator, partnerships with the underlying risk/insurance platforms are super important. We have partnerships with the four biggest coverage platforms and integration has started. Together with our partners we are creating awareness for Bright Union:

  1. Nexus Mutual - integration 100% 🚀
  2. Bridge Mutual - integration at 75% 🏎
  3. Cover Protocol - integration at 25% 🏇

Now we got the tech-stuff under control (unlike most other crypto companies😂)

  1. IDO in mid July, as we mentioned
  2. Main Net Launch 🤓 💻: end of July Bright Union started first and foremost with product development. We have thousands of lines of code written and Bright Union Main Net will go live end of July. We will go live with 3 platforms: Nexus Mutual, Bridge Mutual and Cover Protocol.
  3. Bright Union Index Funds - August

Truly revolutionary the Bright Union Index funds. An NFT positions representing a sliced, diversified and weighted risk package an investment opportunity for crypto users with superb risk reward ratio.

QUESTIONS FROM TELEGRAM

Q~ Is Bright Union easy for new users? What are the highlights that attract users of Bright Union?

A~ Yes it is real easy. You can compare, buy, stake and see your portfolio of all the transactions of our partners in one place. Both those you did bring us as well as the ones you did directly with for instance Nexus.

Q~ We have the Likes of Nexus Mutual, Bridge Mutual and a few other competitors, what’s the plan for Bright Union to become a key player in the crypto coverage market?

A~ We believe that the aggregator will win in this market because every crypto investor wants to cover multiple assets which can be cheaper at different platforms => We will always give you the best deal 💸

Also we are awesome because:

👨🏼‍💻 Team: We have a heavily experienced team hailing from the traditional insurance sector and strong background in DeFi and are the right persons to make this fly.

🤝 Partners: We are very well connected within the space and have partnerships with the top 4 cover platforms on a weekly basis. They are actually happy we are here. We will become the Expedia of crypto coverage

🚀 Product development: Our main net is scheduled to go live end of July, which means we are first to market ensuring that we can benefit from the optimal network effects.

Q~ You mentioned something about the Bright Union Community Program. What does this program consist of and how can we participate? Are there rewards for participants?

A~ Hi Emi, the Creative Contest is now live. Here we give the community the change to win a guaranteed allocation of $500 USD in our private sale or have a chance to win $50 worth of BRIGHT Tokens! 💎

You can participate by creating engaging Bright Union content, by sharing it online, and submitting it for review. To give you the power to leverage all your resources, we accept all types of written and visual content published on any platform: articles, infographics, Twitter threads, memes, stickers or Youtube videos. Even Instagram stories or TikTok videos — anything that you’re good at!

You can submit your entries using this from

https://v6oe31d5q4e.typeform.com/to/fg1tt3d6

For other rules an details you can check it here:

Q~ Due to the prevalence of scam projects in the crypto market, I would like to know the requirements that must be met before Bright Union decides to covers a risk product or do you insure all crypto assets regardless of their authenticity?

A~ Good question!! The main answer is that this is different for each risk platform: Nexus Mutual, Bridge Mutual and Cover protocol all have different policy rules which define what a hack is and what protocols you can buy.

We exist to help you navigate these difficult questions across all platforms. 🤓

Q~ What is the long term vision of the project to attract users from space outside from crypto or non coiner to think about an investment in phase1? What features/improvements are you planning to add to your products in the near future?

A~ We see our MVP as the first step in long journey where we want to make life for our users a lot easier. Blockchain is for a number of insurance products a lot more efficient than traditional insurance, especially where claims assessment can be done by valuation of external data sources. So for instance fight delay, weather insurance and even life insurance could be managed a lot better on blockchain. We do have the ability to do this and have the necessary connections with the insurance industry.

Q~ Does your crypto coverage work across all blockchains, if not which chains do you support atm ?

A~

Not all blockchains….Just the best ones….

CONCLUSION

Dear Blockchain Space Community,

It was our honour and pleasure to collectively discuss Bright Union with you. 🙏🙏🙏

We are severely impressed by the quality of the questions. Its clear that you have a strong and intelligent crypto community!💪💪💪

Our IDO will be mid July and official announcement will come soon💎💎💎

We very much welcome all of you to #JointheUnion >

👉https://t.me/brightunion

👉https://twitter.com/bright_union

👉https://brightunion.io/

It’s really nice having the Bright Union project in here!!!

You can check out their Website for more details. You can also follow them on Telegram and Twitter to keep up to date with all things relating to Bright Union.

Join us now! Enjoy quality articles, daily curated news, insightful infographics, and enter a vibrant, fun, and knowledgeable community!

If you want to email us: Blockchainspace001@gmail.com

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