inSure DeFi’s Dashboard has been updated to support 4 different chains:
Ethereum, BSC, Polygon, and Avalanche.
All the members now need to enable the insurance policy from the Dashboard even if they held the tokens in their private wallet before for the old insurance policy. (I.e. this applies to all the members).
The member can have multiple policies enabled on different chains, aggregated insured value based on the active policies will be enabled and displayed in the Dashboard. (Cumulative upgrade of the plan).
Insurance policies cover the all eligible assets and projects please see eligibility critaria under each type of a claim here.
Approved Snapshot: (Don’t forget to Join our Snapshot Page!): https://snapshot.org/#/insuretoken.eth/proposal/0x7b81c40ba2c2f05c95390bed7eb5d60200880a2300063fa7b9d15f0692b10867
How this works from the members’ perspective:
1. Acquiring SURE from CEXs or DEXs
2. Sending SURE to the Community Vault — Click a button on the Dashboard — “Enable Insurance” (Choosing the Plan and approve the transaction of SURE to be sent to the community vault.)
3. The Insurance Policy will be activated on the 7th day after contributing SURE to the community-controlled vault/s.
4. The Enabled Insurance Policy/s and its validity will be displayed on the Dashboard.
Information for Voters and Stakers:
➤ Staking SURE will insure only the funds in the approved LPs and DEXs. I.e. by providing LP insurance, the policy will no longer be valid across all crypto portfolios of the member. All members must enable the coverage by contributing to the community vault (see above 3 steps).
➤Voting will still require SURE funds being on the wallet and enabling an Insurance policy doesn’t enable the right to vote. The members have to hold SURE tokens in order to be able to vote on Snapshot.
Information on the Gnosis Safe — Community Vault
Information on how the funds are released from the community vaults:
1. A Snapshot is created and an announcement is made in the community groups to see the proposal and vote.
2. After voting is complete, the decision is made by a majority of voters. The transaction will be created for approval on Gnosis Safe.
3. The transaction must be approved by a majority of Community Safe Signers.
(At the time of writing, at least 11 members out of 21 need to approve the transaction — 51% rule).
In order to become a signer across the community vaults, the member must hold enough SURE (combined from the different chains) to be in the Top 20 holders list.
If one member has the same amount as the last member/s in the top 20, the wallet will be added as a signer as well.
Members’ removal and addition to the Community Vault transaction signer can be completed on a monthly basis.
About inSure DeFi
inSure DeFi is a Decentralized Insurance Ecosystem, trusted by thousands of community members to protect their crypto portfolios from scams, exchange closures, and drastic devaluations. inSure DeFi provides insurance solutions for the crypto space to stabilize and secure Crypto & DeFi portfolios.
Fast. Transparent. Future.