InsurAce.io Overview

What is InsurAce.io?

A DeFi Dapp that provides decentralized insurance coverage for over 60 protocols on 8 different blockchains with optimized pricing that can reduce costs up to 60% compared to other protocols, and lower gas fees by up to 50%.

Main Features
Comprehensive cross-chain insurance product line
Lower costs through bundled covers and unique pricing strategies
Fair and transparent governance with on-chain activities and transactions
Successful protection of policy holders in case studies
Compensation for losses from the TerraUST de-peg event
Blockchains
EthereumPolygon

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Frequently asked questions

InsurAce covers smart contract vulnerability, custodian risk, and stablecoin depeg risk.

InsurAce supports coverage for 20 chains.

The benefits of using InsurAce include:

  1. Secure Protection: InsurAce offers reliable and robust protection services to DeFi users, allowing them to secure their investment assets against various risks such as smart contract vulnerabilities, custodian risks, and stablecoin depeg risks.

  2. Stake to Earn: Users who provide capital to underwrite risks in the underwriting pool are rewarded with $INSUR tokens, allowing them to earn returns on their stake.

  3. Investment Returns: InsurAce offers investment services that generate sustainable returns for investors who directly invest via the Investment Portal.

  4. Easier Access: InsurAce is deployed across multiple chains and does not require KYC, providing maximum flexibility for user access.

  5. Broader Coverage: InsurAce provides a full-spectrum cross-chain product line, offering coverage to 20 chains and constantly expanding to more chains with upcoming products.

  6. Lower Cost: InsurAce offers portfolio-based bundled covers with unique pricing strategies, allowing users to save up to 60% on cover payments and 50% on gas fees. Users can insure all their assets in one stop.

  7. Fair & Transparent Governance: All activities and transactions on InsurAce are on-chain, with data published and visualized within the application. The claim process is designed to align the interests of stakeholders, ensuring a fair and transparent claim process to protect policyholders.

Overall, InsurAce provides secure protection, opportunities to earn returns, easier access, broader coverage, lower costs, and fair and transparent governance for DeFi users.

InsurAce rewards users who provide capital to underwrite risks in the underwriting pool with $INSUR tokens.

InsurAce is deployed across multiple chains with no KYC required, providing maximum flexibility for user access. Therefore, it can be inferred that InsurAce does not require KYC for users to access its services.

InsurAce's success is demonstrated through two case studies: Elephant Money and TerraUST De-Peg. In the Elephant Money case, InsurAce approved payouts of $98k to policy holders after a $11m BUSD hack, preventing total loss to individual users. In the TerraUST De-Peg case, InsurAce led the way by approving nearly $12 million in payouts to claimants who bought the TerraUST De-Peg policy covers ahead of the catastrophic crash, which resulted in over $40 billion worth of losses and halted 73 ecosystem projects. These case studies highlight InsurAce's ability to protect policy holders and provide financial support in times of crisis.

InsurAce compensates for losses by approving payouts to policy holders who have purchased coverage for specific risks. In the case of the TerraUST de-peg event, InsurAce approved nearly $12 million in payouts to claimants who had purchased the TerraUST de-peg policy cover. This intervention prevented total loss for 155 individual investors. InsurAce aims to provide reliable and secure protection services to DeFi users, allowing them to secure their investment assets against various risks.

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