Opyn is developing an insurance protocol for decentralized finance. The Opyn insurance platform uses the Convexity protocol, which is built on the Ethereum blockchain, and allows DeFi users to create put and call options. The Convexity protocol enables users to earn premiums on their collateral and lets options buyers protect themselves against the systemic risks involved in DeFi investments.

MediShares is developing a blockchain-based insurance network that will be powered by smart contracts. It will serve as a decentralized marketplace for insurance, where anyone can become an insurer and earn MDS tokens. MediShares was created by the founders of Zhongtopia, the largest mutual aid platform in China, which has over 10 million users.