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Home - Insurace.io Airdrop Review: Win $200 Worth of INSUR Tokens eac

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Insurace.io Airdrop Review: Win $200 Worth of INSUR Tokens eac

Magnesia
Last updated: 11/02/2023 6:07 pm
Magnesia
Published: 13/03/2021
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Insurace.io Airdrop Review: Win $200 Worth of INSUR Tokens eac
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About Insurace.io

Insurace.io 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. They 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. Insurance PortalInvestment Portal.

Contents
  • About Insurace.io
      • Step No 1
      • Step No 2
      • Step No 3
      • Step No 4
      • Step No 5
      • Step No 6
    • Core Value Creations
    • Sustainable Return
    • Architecture Design
    • Core Features and Designs
      • Permissionless
      • Products

InsurAce Protocol is a decentralized insurance protocol, aiming to provide reliable, robust and carefree DeFi insurance services to DeFi users, with very low premium and sustainable investment returns. InsurAce Protocol is giving away a total of $10,000 worth of INSUR to fifty lucky giveaway participants. Sign up for the giveaway and complete simple social tasks to earn points. Fifty lucky participants will get $200 worth of INSUR tokens each.

PlatformAirdrop StartsKYCWebsite
ETH2021-02-28KYC for users is NOT a requirementClick Here To Visit

Step No 1

Register for theInsurace.io Airdrop Airdrop, by creating an account.

Step No 2

Verify your email & log in to your account.

Step No 3

Take part in the referral program and invite 3 friends.

Step No 4

Join Insurace.io Airdrop on Telegram group & Telegram channel. 

Step No 5

Follow Insurace.io Airdrop on Twitter & like/share the pinned tweet and tag 3 friends.  

Step No 6

Like/follow Insurace.io Airdrop on Facebook & like/share the pinned post.  

Core Value Creations

While we acknowledge and respect the leading role of Nexus Mutual as the pioneer of DeFi mutual insurance, they would like to build InsurAce as a mutual insurance protocol but with some distinctive value propositions. They do not consider ourselves as the competitor, but more of a healthy and necessary complementary role to the immense and expansive DeFi world.

Sustainable Return

The low investment return has been a major challenge for Nexus Mutual since its capital return for the capital pool providers are sliced from the premiums, which is quite low compared to the benchmark yield on lending and borrowing platforms such as Compound and Aave. Such low return will in turn impede the capital injection into the capital pool, and worsen the issues such as high premium and limited capacity.

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On InsurAce, customers will be able to gain returns in many ways, including: i) invest directly in the investment products per their risk appetite; ii) stake in the mutual pool to get the investment carry and InsurAce Token (INSUR) as rewards; iii) enjoy shares of the premium income. We believe such design will benefit both the insured and insurers in a sustainable way.

Architecture Design

The platform will consist of four layers, including:
• User Layer, to provide the user access functions for platform users such as cover buyers, investors, risk assessors and etc.;
• Operation Layer, to cover the various user or business operation scenarios interacting with core product functions;
• Products Layer, to build the core functions of the platform, such as product offering, liquidity pool, investment, pricing models, governance, etc.;
• Infrastructure Layer, to set up the interactions with Ethereum network as a base, and maintain interoperability with external oracles and cross chain utilities.

Core Features and Designs

Permissionless

Unlike the Nexus Mutual platform where membership registration requires KYC process, which adds the complexity of centralized finance regulations, InsurAce platform will not require such KYC process, thus enable the platform reach to a wider audience. An ERC20 token, the InsurAce Token (INSUR), will be issued as governance and utility token in InsurAce ecosystem.

Products

The InsurAce platform will provide covers on smart contract cyber threats at the start which is the most demanding in current DeFi space. Unlike other single protocol based platform where capital pool and cover purchase is per protocol, InsurAce will adopt the portfolio-based design to pool all injected mutual funds into one pool and provide multiple protocol protection together.

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