We’ve collated some of the best questions and corresponding answers sent to the team in February. We wanted to release this as a way of helping all community members understand the answers
Question: If something like aave v2 has a covered incident does it matter which chain I’m farming on and which chain my cover is on?
For example, I farm through aave v2 on avalanche but my aave v2 cover is in bnb on BSC. Could I use my BSC cover to submit a claim for my lost funds from my aave v2 farm on avalanche?
Answer: Yes, that’s fine. As long as they can prove ownership of the wallet through microtransactions it doesn’t matter what chain they farm or buy on.
Question: What was the process of applying for the NEAR protocol grant? Any hoops and hurdles to jump through?
Answer: We applied via the grant portal after talking with the Near Protocol Team.
We hit all of their requirements and were awarded the grant based on our track record of quality development.
They are very public about the funding available and the sorts of projects they are allocating it to.
Question: If our funds are used, are we liquidated like a debt to collateral or is the lp value reduced until new revenue drives our lp value up?
Answer: Yes, once our investment portal is launched, part of the investment revenue will be put back to those mining pools to drive LP value up.
Question: How much sales are on the consumer side vs business2business? I wonder if the b2b side is big enough to start running an enterprise sales playbook (hire account execs, get salesforce.com, start going down the leadgen -> sales pipeline playbook) I could see a situation where most of the revenue comes from fund managers and protocols buying insurance vs consumers.
Answer: Based on the current product design as covers are marked by wallet address, we don’t really differentiate between retails or institutions. In terms of the sales, the majority is still coming from the retail side, but we’ve also seen a lot of demand from 2B users, which you may have seen the big cover orders over several million covered amount.
With more capital from TradFi coming into DeFi, the demand for safety investment in DeFi is ever-increasing, and the demand for insurance is all on the rise.
Also, we have an internal process to engage with project teams and/or whale users, which is not as big as using salesforce, but it’s a great source for new sales.
We hope these answers were useful for you. If you have any questions, make sure to get involved with all of our social networks, where our team can answer questions directly.
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