WHAT IS INSUREDAO?
InsureDAO is a peer-to-pool insurance market protocol. The operation and management of the protocol are controlled by the DAO on the Ethereum network. Anyone can create, purchase or underwrite an Insurance policy. InsureDAO’s mission is to stabilize the entire crypto ecosystem.
The key features of the protocol are;
- No KYC — InsureDAO is open to everyone to buy insurance products without having to provide any KYC.
- Dynamic Pricing — InsureDAO uses an algorithm to measure risks based on the forces of supply and demand which ensures that insurance is available at a fair and reasonable price.
- Perpetual Token Reward — InsureDAO provides a token reward to Underwriters. As the insurance premium is set by the supply-demand algorithm, the more this token incentive attracts underwriters, the cheaper you can buy insurance.
In June, InsuranceDAO successfully completed private seed ROUND financing which was over-subscribed. The round included several top leading crypto investors such as NGC Ventures, LD Capital, OSAZ, Exnetwork Capital and many more.
Currently, InsureDAO is running an Incentivized Test-net on Rinkeby Test Network. You can participate and earn some free $INSURE which is the native token. The test-net will run from 6th August to 25th August.
InsureDAO smart contracts are currently being audited by Quantstamp and Solidified. Mainnet will launch immediately after the conclusion of testnet and end of audit.
If you are interested, you can learn more details about the project here: