What Is InsurAce?
InsurAce is a decentralized insurance protocol that operates across multiple chains. It allows users to obtain insurance coverage for a variety of purposes, and it also provides a platform for peer-to-peer insurance transactions.
Background
Oliver Xie founded InsurAce in 2021.
How It Works
InsurAce enables insurance buyers to obtain coverage and underwriting depositors to earn premiums by underwriting the cover. The protocol covers smart contract exploits, stablecoin depeg risks, custodian risks, and bundled covers.
The native governance token of InsurAce is INSUR. INSUR token holders can participate in the protocol’s governance by introducing and voting on proposals. They can also act as claim assessors and vote on the approval or rejection of a claim. If their vote aligns with the majority outcome, they are rewarded with INSUR incentives.
Key Takeaways
- InsurAce is a decentralized insurance protocol operating on multiple chains.
- It allows for peer-to-peer insurance transactions and various types of coverage.
- Oliver Xie founded InsurAce in 2021.
- The native governance token of InsurAce is INSUR and token holders can participate in governance and act as claim assessors.
- If the claim assessors’ vote aligns with the majority outcome, they are rewarded with INSUR incentives.
