Insure your DeFi journey!
InsurAce is a community driven DeFi insurance protocol which offers “0” premium and sustainable returns to every user in the crypto journey.
Challenges of Current DeFi Insurance
(1) Limitations of Product Accessibility
There are some limitations on product accessibility for existing insurers, such as high premium, KYC-based membership, limited cover capacity, lack of protection diversity and etc.
(2) Lack of Underlying Risk Management
Risk management lies at the core of any insurance business, however current DeFi insurance products still have much room for enhancement in terms of risk control, such as cybersecurity risk of the insurance protocol itself, concentration risk, claim assessment risk, and operation, credit & market risk.
(3) Capital Inefficiency
Capital inefficiency is another pain point for existing DeFi insurance products reflected in low reserve utilization and unsustainable investment returns.
We respect all the DeFi insurance pioneers and do not consider ourselves as a competitor to the existing players, but a necessary complementary role to the immense and expansive DeFi world.
InsurAce Unique Value Creations
(1) “0” Premium — portfolio-based product design and unique pricing model to optimize cover cost, together with sustainable investment returns, achieving ultra-low premium close to “0”.
(2) Enriched Product Line — wallet-based accessibility (no KYC), portfolio-based product design, cross-chain protocols coverage, providing flexible and easily accessible insurance protection to end-users.
(3) SCR Mining — the insured, insurer and investors are able to participate in the “SCR” (Solvency Capital Requirement, which brings risk assessment into Minimum Capital Requirement) mining to earn the InsurAce Token (INSUR) by staking into the insurance and investment pool. It will drastically increase the capital pool, cover capacity, investable capital, and further reduce the insurance premium.
(4) Sustainable Return — Except SCR Mining rewards, investors will be able to gain sustainable returns from investment products offered by InsurAce.
How InsurAce Works
As an insurance protocol, InsurAce will provide 2 business lines similar to traditional insurance companies, i.e., the insurance and investment arms. Both arms will work in a synergetic manner to offer “0” premium insurance and create sustainable returns to the insured, insurer, and investors.
InsurAce Business Architecture
In order to achieve the long-term success of InsurAce, we propose to issue INSUR token as a governance token to community contributors.
All participants can acquire the INSUR governance tokens by participating in cover issuing, SCR mining and investment via InsurAce.
InsurAce is a decentralized insurance protocol, aiming to provide reliable, robust and carefree DeFi insurance services to the DeFi users, with very low premium and sustainable investment returns. InsurAce’s highlights include “0” Premium, Enriched Product Line, SCR Mining and Sustainable Return. InsurAce’s mission is to redefine DeFi insurance and protect users from security risks with user-friendly product accessibility and capital efficiency.
Telegram Community: https://t.me/insurace_protocol
Telegram Announcement: https://t.me/InsurAce_Channel