Eonian - The first insured crypto savings account to earn passively

Hi Product Hunters! 👋 I’m Vlad, Founder of ∞ Eonian. For over 5 years, I’ve been using crypto to preserve my savings and earn a little extra on top. 📖 Our Story Unfortunately, in the past few years, crypto exchanges have started going bankrupt. Those that survived began unpredictably locking legitimate users out of their assets due to fears of sanctions from government regulators. This forced me to move all my savings into crypto wallets. However, the number of crypto wallet hacks has been increasing, even for cold wallets, which hackers can now hack without touching the wallet's private key 😱. I started looking for a way to store my assets without the constant risk of losing them in the blink of an eye. Big names in crypto, like Vitalik Buterin, now recommend storing crypto in multisig wallets, splitting portfolios, and hoping no one hacks them. 🤔 But I’m sure this isn’t how it should be. I wanted a solution where I could store all my assets in one place, with the ability to recover them even if my wallet was hacked or I forgot the password - similar to the good CEXes, but without the risk of being locked out. Along with a few software engineer friends, I started exploring potential solutions. We investigated numerous wallets, protocols, hacks, and vulnerabilities. What we found was that even the largest wallets and protocols write publicly: “We are not responsible for any losses”. Which in reality translates to: ”If we get hacked, it's your problem”. Most projects even think they do not need to spend time on minimal security measures. 🧠 Breakthrough Technology We decided to build a solution with unusual for crypto terms in mind: “We are responsible for any losses”. We recreated the traditional banking savings account model on the blockchain in a decentralized way to keep full ownership of assets in the user's hands. Like in banks, decentralized savings accounts lend assets to protocols in exchange for interest, which is then used to insure these assets against wallet or protocol hacks. This means Eonian allows you to: - 🛡️ Insure assets against wallet hacks - 💰 Earn interest on assets once the insurance pool is full - 🔑 Use your existing wallet but still recover access if you forget the password from it - 🤯 And all of this is free, with no fees or limits. We are so sure this is the safest way to store assets in crypto that we’re betting our own personal savings on it 👛. We've filled the insurance pool with our own savings. We want to change how people think about DeFi and crypto, showing that it can be even safer than traditional finances. And we know it from our experience. Our team has over 10 years of experience in software development in large enterprise companies, including the financial sector. We’ve applied all of this expertise over 1.5 years of research and development of the protocol. We've built and tested it with a community of 👪 20,000 people to finally share it with the incredible product hunt community. Product Hunters, we'd be grateful if you try Eonian and share your thoughts. Your support means the world to us! ❤️ Let us know: Can it solve your problems with crypto? What features do we miss?

Cool solution and congrats on the launch! Love the statement of ”all assets in one place”, it’s something we’ve been focusing with our product also (though in a slightly different field).

Congrats for the launch. I love the idea to help people save their assets and recover them even though they lose access to their wallets. After reviewing the product, I have a few suggestions. The protocol built using smart contracts is the pillar of the product, so the security of the protocol becomes crucial. To ensure the smart contracts are 100% safe, it would be a good idea to go through multiple steps of security audits including a contest, as well as having bug bounty programs for the protocol through Immunefi or Hats Finance.

Your project looks very promising and helps to solve some of the most painful problems of the crypto industry - hacking and loss of access to the wallet. I like that you value users' time and structure the information on the site well. I wish you great success and prosperity!

This tool is looking promising. Maybe consider adding a feature to track insurance claims or a way to get real-time security updates.

"We are so sure this is the safest way to store assets in crypto that we’re betting our own personal savings on it 👛. We've filled the insurance pool with our own savings." I applaud this idea, @leovs09. It takes a lot of courage to approach it this way, especially in the crypto space.

Great work @leovs09. will surely check this out.

Congrats on a launch! I'm eager to use it. Hopefully I won't need to apply for insurance though :D

Congrats for launch of Eonian....

Phenomenal idea, and desperately needed given the collapse of trust in crypto exchanges in recent years!