Insurance
Risk management of assets by purchasing insurance coverage in the event of asset loss (hacks, smart contract bug, etc.). Underwriters are able to select protocols/events to underwrite in exchange for a fee. Based on the insurance pools, a user is able to insure themselves by paying a premium to that pool. Payout determination can be either through a voting process or event driven code.
Principles
A smart contract defines the risk to be insured as well as conditions for claims/payouts. Funds, including premiums, are deposited to the contract thereby enabling the respective pool share to be determined.
Benefits
Creates an insurance market whereby undertakers are able to fund projects based on their relative confidence in the project.
- Enable more fine-grained management of risk.
- Increases trust due to loss minimisation
Protocols
- Nexus Mutual
- Unslashed
- Insurace
- Solace
- inSure
- vouch.us