InsurAce.io January community questions

We’ve collated some of the best questions and corresponding answers sent to the team in January. We wanted to release this as a way of helping all community members understand the answers.

Question: Have you guys thought about writing larger one-time policies? like, to a protocol directly?

Answer: Yes. Actually there are project teams purchasing large covers from us already, upcoming we are planning to extend this to a b2b type of collaborations.


Question: The $INSUR coin has been in a nasty downtrend ever since you launched it. My question is, what will you do to create more demand for your token?

Answer: We have our upcoming v2. To address many of the things we have learned over this last year. You can check this out soon when we release our v2 whitepaper, but in the meantime check out our 2022 roadmap: https://blog.insurace.io/insurace-io-our-2022-roadmap-fecf3315fd75


Question: Would you have a step by step on how to use your service for someone 100% on Terra? Also, is it possible to an amount once and have them automatically insured on all protocols that you support? This would be a huge timer saver.

Answer: For the first part of this question, you have to use a wallet on eth, bsc, polygon or avalanche to make the purchase unfortunately. With regards to the second question — this is a function we are working on as we realise it would be a huge help to our users.


Question: If my UST is currently being used in Anchor Protocol in their savings(stablecoin staking with the 19,5% apy) and let’s say UST loses its peg and fulfills the 10 days TWAP below 0.88 rule, does that count as being UST representation as I wouldn’t directly have UST in my wallet but rather deposited into Anchor Protocol

Answer: Yes. it counts. as long as you prove that the wallet that you use to deposit into anchor belongs to you at the time of claim


Question: Hey guys how long does it take for cover to become available once previous cover has expired?

Answer: Capacity will automatically increase as TVL (staking amount in mining pools) goes up, meaning more capital on the platform to offer more capacity. This is not the thing we can control. We will do a weekly update on the expired covers every Friday to free up some capacities.


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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