inSure DeFi

inSure DeFi (SURE) is a community-based crypto asset insurance ecosystem where users can insure their crypto portfolio by purchasing SURE tokens with fiat and other cryptocurrencies.

inSure is designed to distribute the risks of holding cryptocurrencies among the liquidity pool, with insurance premiums determined by the dynamic pricing model that Chainlink uses.

The capital required to support risk at any given time depends on the market price of SURE tokens as well as community demand for crypto portfolio insurance.

A decentralized support system called inSure DAO is also used to handle all insurance claims carefully, with voters making sure that any fraudulent claims are flagged and only valid claims are followed through.

inSure DeFi is a decentralized insurance ecosystem trusted by thousands of community members to protect their cryptocurrency portfolios from fraud, exchange closures, and sharp devaluations. inSure DeFi provides insurance solutions to the crypto space to stabilize and secure Crypto & DeFi portfolios.

A key factor in creating a good insurance platform is the reliability of financial information such as the use of funds and the availability of sufficient premiums to pay potential claims. Since the blockchain is a distributed ledger, each node has the same copy of the data.

When data changes, each insured person can see synchronized and updated data, which makes the work of each fund open and transparent. Therefore, there will be a special module on the main page of the website to disclose relevant information and provide accurate real-time financial status every quarter, such as risk factors, minimum capital requirements, historical token price data, requirements assessment summary. , as well as the number of blocked and sold tokens.

inSure Crypto Insurance is based on:

1.Dynamic pricing model to determine the correct market price through supply and demand;

2.Capital model to provide the capital needed to support risk at any given time;

An inSure DAO voting mechanism that ensures that each request is handled without permission and transparently.

nsurance is a highly leveraged industry; Thus, the main task of the insurance capital model is to calculate the capital required to guarantee the solvency of the risk pool, up to some arbitrary and high level of confidence, such as 99.9% in the latest Solvency II EIOPA framework.

The capital model is used to calculate the minimum capital a fund must hold, which is used to determine:

1.Capital blocked in the capital pool

2.The staking power used during the staking phase.

The reserve fund will be accumulated whenever the insurance premium is paid. 40% of the premium will be added to the reserve fund. Another 10% will be reserved before the expiration of the contract. If there are no claims, it will be added to the reserve fund. The reserve fund will grow over time and will primarily be used to cover insured events.

If the reserve pool cannot cover all claims, the capital pool will be used to pay the rest. When the pool surplus becomes large enough, SURE holders will receive a % of staked SURE to better incentivize the growth of the inSure Staked pool.

InSure holders can wager on different DEXs and receive % of each trade in addition to the insurance provided by the inSure plans.

In the first phase, we will focus on the risk of fraud, devaluation and theft of funds. A more or less correlated business will be introduced to provide higher returns to token holders when voted by the community.

Under normal circumstances, all operations in inSure can be performed using smart contracts. But in fact, in order to take into account the interests of users, it is better to achieve the effect of decentralization and make the process more transparent, the decisions of certain events will require the community to vote.

Thus, the platform will create an inSure DAO organization to facilitate such decision making and emergency management. It should be noted that inSure DAO does not manage the fund pool and cannot transfer funds to any specific person. Each committee member may be replaced by a vote at any time.

The inSure DAO will operate under the two core principles of sustainability (which serves the interests of community members by ensuring the sustainability of the overall pool of funding) and growth (promoting sustainable premium growth and inSure DAO membership growth).

The inSure DAO is comprised of several individuals with expertise in insurance, co-management, and blockchain development. Some of the powers that committee members have are:

1.Reaching consensus on the implementation of specific code that cannot be deployed automatically;

2.Punishing bad actors in the inSure ecosystem (e.g. malicious claims, false claims, etc.) by burning SURE tokens.