InsurAce

What is InsurAce?

InsurAce is an innovative insurance protocol designed to operate similarly to traditional insurance companies, featuring two key functions: an insurance arm and an investment arm. Here’s how it works:

• Insurance Arm: Provides protection for investment activities, offering coverage at almost "0" cost for investors.
• Investment Arm: Manages the investment pool, utilizing free capital from the insurance pool to generate higher yields, which, in turn, complement the premiums on the insurance side, reducing cover costs for customers.

This symbiotic relationship between insurance and investment arms forms a sustainable business model, offering both insurance coverage and attractive investment returns. As a platform, InsurAce generates revenue from insurance premiums and investment returns. These revenues are allocated towards operational costs, development, community incentives, and ecosystem collaborations.

---

Recent Video Interview

Main points of the interview:

• InsurAce's DeFi insurance products, covering smart contract, exchange, and IDO event risks.
• InsurAce offers portfolio-based coverage to save on gas fees and premiums.
• The platform is expanding across Ethereum and BSC, with plans for additional integrations and an in-house cross-chain bridge.
• Upcoming milestones include API development, institutional insurance, and enhancements to the token economy for added user value.

---

Use Cases

InsurAce caters to various user scenarios, including:

• Investors: Who gain almost "0" cost insurance coverage and investment returns.
• Insurers: Staking assets in the mutual insurance pool, earning INSUR tokens and investment returns.
• Insureds: Accessing the insurance portal to purchase covers, receiving INSUR tokens as incentives, and claiming when needed.

The synergy between the two arms benefits all participants, providing comprehensive coverage and investment opportunities.

Architecture Design

The architecture design of InsurAce encompasses four distinct layers, each serving specific functions to ensure seamless operation and integration with external networks.

• User Layer: This layer provides user access functions, allowing platform users such as cover buyers, investors, and risk assessors to interact with the platform easily and efficiently.
• Operation Layer: Here, various user and business operation scenarios are covered, ensuring that the day-to-day functions of the platform run smoothly and effectively.
• Products Layer: At the core of the platform, this layer houses essential functions such as product offerings, liquidity pool management, investment strategies, pricing models, and governance mechanisms.
• Infrastructure Layer: Serving as the foundation, this layer establishes interactions with the Ethereum network and maintains interoperability with external oracles and cross-chain utilities, ensuring the platform's robustness and scalability.

Products

InsurAce specializes in offering insurance coverage for smart contract cyber threats, catering to the specific risks inherent in decentralized finance (DeFi) ecosystems. By employing a portfolio-based approach, the platform pools funds from users to provide comprehensive protection against a wide range of threats.

Customers have the flexibility to select from two distinct portfolio options:

• User-Defined Portfolios: This option allows customers to customize their coverage by selecting specific protocols or risks they wish to protect against, tailoring the insurance to their individual needs and preferences.
• Off-the-Shelf Portfolios: Alternatively, customers can choose from pre-designed portfolios categorized by protocol type or risk level. These portfolios offer convenient, ready-made solutions for users seeking comprehensive coverage without the need for extensive customization.

Overall, InsurAce's portfolio-based approach ensures that users can easily access and obtain the appropriate level of protection against smart contract vulnerabilities, enhancing the security and resilience of their DeFi investments.

Governance, and INSUR Tokens

Governance within InsurAce operates on a decentralized autonomous organization (DAO) model, empowering community members to participate in crucial decision-making processes. Through mechanisms like community voting and an advisory board, the platform fosters transparency and fairness in governance, ensuring that the voices of all stakeholders are heard and considered.

In the platform's token economy, INSUR tokens play a pivotal role, serving as a versatile asset within the ecosystem. These tokens incentivize users to participate in various activities, including providing liquidity, engaging in governance decisions, and contributing to the community. As the protocol continues to evolve, additional utility for INSUR tokens will be introduced, further enhancing their value and utility within the ecosystem.

Partners

InsurAce's partners: Solana Foundation, Polygon, Avalanche, NEAR, Harmony, CoinGecko, MultiversX, Alpha Finance Lab, mStable, Autofarm, dHEDGE, Dora Factory, Beefy Finance...

Project Development

InsurAce and Velo Labs have joined forces to enhance blockchain utility and security, marking a significant milestone in the realm of decentralized finance (DeFi) and blockchain technology. Velo Labs is pioneering a decentralized settlement network to facilitate secure and efficient value transfer, blending Web 2.0 and 3.0 elements into its infrastructure. In contrast, InsurAce offers decentralized insurance protection against various risks for digital assets. This partnership aims to provide users with enhanced security and protection for their digital assets by integrating InsurAce's comprehensive coverage into Velo Labs' network. Additionally, users will benefit from seamless risk management solutions and compliance-friendly onboarding processes, fostering broader acceptance and adoption of decentralized finance solutions with security as a top priority.

InsurAce Price Analysis

As of November 24 2024 InsurAce has a marketcap of $1M. This is {{percentagefromath}} from its all time high of $15.20. In terms of its tokenomics, there's a total supply of 100M with 70% currently outstanding. Keep in mind InsurAce has a fully diluted value of $1.5M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.