## What Is Solace Protocol (SOLACE)?

Solace is an insurance protocol that is aiming to invent the future of DeFi Insurance. The protocol helps you to protect your funds against smart-contracts exploits across 180+ protocols with an intelligent single policy that automatically adjusts coverage to changes in your positions.

Users and DAOs can interact with Solace in different ways: 

* Buy single wallet coverage to get protection for funds
* Bond assets to buy $SOLACE at discount and provide capital in the underwriting pool
* Stake $SOLACE to get revenue from Protocol’s activities, token distribution and to unlock the governance rights
* Buy coverage for liquidity pool or treasury to get all users funds protected
* Integrate Solace SDK to help users get covered

SOLACE is the utility token that is used for:

* To acquire protocol’s own underwriting capital through bonds
* To stake SOLACE to get revenue from Protocol’s activities, token distribution and to unlock the governance rights

## What Makes Solace Protocol Unique?

The way how Solace implements a safe, simple and intelligent structure provides a new advantageous model for DeFi users.

Solace Wallet Coverage protects the entire portfolio with one single policy. It tracks position inside your wallet and you pay a premium weekly based on your DeFi activity. You just buy policy once, make a deposit on the policy balance and explore DeFi with no extra management.

Solace takes the underwriting risk away from individual users by acquiring Protocol's own underwriting capital. Anyone can participate in insurance by bonding assets in the underwriting pool or by staking SOLACE and earn fee from policy sales and investing activity with no need to make a payout in case of shortfall event.

Solace claim assessment is proactive and guarantees payouts within 7 days, with no need to file a claim.

Solace is one of the very few projects focusing on intelligent risk assessment based on quantitative analysis, probability, and uncertainty. And the developed permissionless system incentivizes people to deploy coverage products and risk strategies and earn a fee from policy sales. 


### Who Are the Founder of Solace Protocol?

Founder of Solace, Nikita Buzov, has a highly technical background with over 4 years of crypto and DeFi experience: BTC, ETH mining, running PoS validators, managing liquidity in DeFi, and coding smart contracts. He honed his engineering expertise through over 5 years of research experience in Machine Learning processors and semiconductors, while completing his bachelors at the University of Illinois Urbana-Champaign, and masters and PhD(dropped out) at the University of California Santa Barbara. Nikita is also a board member of the Blockchain Acceleration Foundation (a 501(c)(3) nonprofit dedicated to starting accredited blockchain courses at universities and connecting the talent to projects in the web3 industry) and was previously the president of Blockchain at UCSB student organization. 

His involvement in blockchain and crypto communities gives Solace a needed advantage to build a community and lead the team. Coming from academia, Nikita is an expert in computer architecture, which gives Solace team further leverage in developing efficient and secure code running on-chain.

Solace vision is supported by Aave, Polygon and Near Protocol grants. Core contributors and advisors include top Web3 representatives such as Gustav Arentoft and Doo Wan Nam (MakerDAO & StableNode), Preston Van Loon (Prysmatic Labs), Cameron Dennis (Blockchain Acceleration Foundation, Near Protocol), Sandeep Nailwal and Arjun Kalsy (Polygon), Jimmy Chang (Aave), Illia Polosukhin (NEAR), Julien Bouteloup (StakeDAO & rekt.news), Alex Shevchenko (Aurora), Kiril Nikolov (Nexo), Aleksander Larsen and Jeffrey Zirlin (Axie Infinity), Evgeny Yurtaev (Zerion), Seth Ginns (CoinFund), Quentin Milne (Stake Capital)

### How Many SOLACE tokens Are There in Circulation?

Solace Protocol launched its mainnet on October 19, 2021 and SOLACE token has released at November 29, 2021 with 140,000,000 tokens created at genesis. Max SOLACE supply is set at 1,000,000,000. 50% go to SolaceDAO treasury, 10% to the Underwriting pool, 8% to Incentives program, 13% to Growth fund and 12% to core contributors. 

### Where Can I Buy SOLACE?

SOLACE is available for trading on:
— [Sushiswap (Ethereum)](https://app.sushi.com/swap?inputCurrency=0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48&outputCurrency=0x501acE9c35E60f03A2af4d484f49F9B1EFde9f40)
— [Trisolaris (Aurora)](https://www.trisolaris.io/#/swap?inputCurrency=0xC42C30aC6Cc15faC9bD938618BcaA1a1FaE8501d&outputCurrency=0x501acE9c35E60f03A2af4d484f49F9B1EFde9f40)
— [Uniswap V3 (Polygon)](https://app.uniswap.org/#/swap?chain=polygon&inputCurrency=0x45c32fA6DF82ead1e2EF74d17b76547EDdFaFF89&outputCurrency=0x501acE9c35E60f03A2af4d484f49F9B1EFde9f40)

Also you can buy SOLACE at a discount at https://solace.fi/bond by bonding variety of assets

#### Related Pages:

Learn more about Solace [here](https://medium.com/solace-fi/insurance-x-defi-2-0-solace-6fb13c95cef7/) and [here](https://medium.com/solace-fi/solace-releases-total-wallet-coverage-e82cfa9fee77)


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