Name: InsurAce
SKU: INSUR
Price: 0.00287964 USD

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INSUR

InsurAce CMO says there is huge market potential in DeFi insurance, says Cointelegraph. After a rocky couple of months, DeFi insurance is needed now more than ever. $2 billion has been lost in DeFi just this year alone. Dan Thomson, CEO of the decentralized cover protocol InsurAce, says that there is huge potential for cryptocurrency [&#8230;]

There is a Massive Market Potential for Crypto Insurance Providers

LUNA

SURE

With over $2 billion lost in decentralized finance this year, there exists a huge market opportunity for crypto insurance providers, according to an executive.

Crypto insurance a ‘sleeping giant’ with only 1% of investments covered

LINK

&lt;!-- SC_OFF --&gt;&lt;div class=&quot;md&quot;&gt;&lt;p&gt;So, two months ago, during the UST implosion, I asked the Defi Sub if anyone had managed to claim UST depeg insurance.&lt;/p&gt; &lt;p&gt;&amp;#x200B;&lt;/p&gt; &lt;blockquote&gt; &lt;p&gt;I don&amp;#39;t think an insurance model governed by shareholders vote will actually work without government type regulations, unless it&amp;#39;s strictly enforced in the smart contract logic with oracles. I guess this is the litmus test for that.&lt;/p&gt; &lt;/blockquote&gt; &lt;p&gt;&lt;a href=&quot;https://np.reddit.com/r/defi/comments/uxd50q/did_any_ust_holders_manage_to_claim_depeg/&quot;&gt;https://np.reddit.com/r/defi/comments/uxd50q/did_any_ust_holders_manage_to_claim_depeg/&lt;/a&gt;&lt;/p&gt; &lt;p&gt;&amp;#x200B;&lt;/p&gt; &lt;p&gt;And now from CT we have the answer&lt;/p&gt; &lt;blockquote&gt; &lt;p&gt;The &amp;quot;DeFi insurance&amp;quot; subindustry is fundamentally broken. It is rife with manipulation, conflicts of interest, and outright scamming. Let&amp;#39;s look at how these issues plague services like InsurAce and Kleros, who unfairly misappropriate funds from rightful claimants. (1/20) &lt;/p&gt; &lt;p&gt;But a key fact is conveniently overlooked - the InsurAce team has sole control over the proposals that are uploaded and how they are worded, which undeniably influences the outcome of any given vote. They routinely abuse this power to sway votes in their chosen direction. (4/20) &lt;/p&gt; &lt;p&gt;In this example, InsurAce votes in a new term (adding a minimum UST amount) as an excuse to invalidate claims. This term was not included or agreed to in the original cover policy (which implied a $0 minimum, not $1). In the proposal, they put their own argument in bold. (5/20) &lt;/p&gt; &lt;p&gt;Unslashed&amp;#39;s biggest insurance claim to date - a 742 ETH loss caused by the UST depeg - was referred to Kleros. Kleros is a decentralized jury system that is used by several top projects such as Uniswap. The claim was rejected several times despite it having clear merit. (9/20) &lt;/p&gt; &lt;p&gt;Selective scamming is scary, because it&amp;#39;s well-concealed. The majority of small claims will go through just fine, and there will be a huge number of genuine supporters. But people do get scammed. And you never know if you might become their next target. (17/20)&lt;/p&gt; &lt;/blockquote&gt; &lt;p&gt;&amp;#x200B;&lt;/p&gt; &lt;p&gt;&lt;a href=&quot;https://twitter.com/FatManTerra/status/1551511756446601216&quot;&gt;https://twitter.com/FatManTerra/status/1551511756446601216&lt;/a&gt;&lt;/p&gt; &lt;p&gt;&amp;#x200B;&lt;/p&gt; &lt;p&gt;&lt;strong&gt;TL;DR: In the event of something worth filing a claim for, DeFI insurances are unlikely to pay out.&lt;/strong&gt;&lt;/p&gt; &lt;/div&gt;&lt;!-- SC_ON --&gt; &amp;#32; submitted by &amp;#32; &lt;a href=&quot;https://www.reddit.com/user/indonesian_activist&quot;&gt; /u/indonesian_activist &lt;/a&gt; &lt;br/&gt; &lt;span&gt;&lt;a href=&quot;https://www.reddit.com/r/CryptoCurrency/comments/w7n8bv/defi_insurances_are_pretty_much_scams/&quot;&gt;[link]&lt;/a&gt;&lt;/span&gt; &amp;#32; &lt;span&gt;&lt;a href=&quot;https://www.reddit.com/r/CryptoCurrency/comments/w7n8bv/defi_insurances_are_pretty_much_scams/&quot;&gt;[comments]&lt;/a&gt;&lt;/span&gt;

DeFI insurances are pretty much scams

LUNC

DeFi insurance protocol InsurAce took heat from the community for suddenly shortening its claims period for Terra-related insurance claims, but is already set to pay out $11 million to claimants.

InsurAce says it will pay millions to claimants after Terra's collapse

Last week founders from the top DeFi insurance companies, Nexus Mutual, InsurAce, Bright Union, and Amulet, came together to discuss the UST de-pegging event. 

Its pay out time for DeFi insurance

USTC

InsurAce, a DeFi insurance platform that offered cover against a UST de-peg event, has confirmed that they will be paying out $12 million in USDT to users who hold a valid policy. 

Insurance protocols are paying out millions to UST holders

InsurAce.io is a decentralized multi-chain insurance protocol designed to strengthen the DeFi community&amp;#39;s risk protection infrastructure.&amp;nbsp;InsurAce.io has announced that they have been selected to participate in the BNB Chain&amp;rsquo;s MVB IV incubation program. If&amp;nbsp;they are picked as the monthly star in March, they will get a variety of additional benefits.

BNB Chain’s Most Valuable Builder Incubation Program Just Onboarded InsurAce.io

Terra has had a fairly busy week, with the protocol making some significant announcements over the last seven days. Starting with the announcement of their ecosystem fund to the news that $UST will be coming to Solana shortly. Let’s take a quick look at all the important developments. 

A Quick Recap Of Terra’s Busy Week: $150M Fund, InsurAce, and Celsius

ALPHA

Users on Alpha Homora v2 can now insure their liquidity pools and yield farms with InsurAce.

InsurAce is first to insure assets on AlphaHomoraV2 by Alpha Finance Lab

MATIC

We've also launched Full-Spectrum Multi-Chain Insurance services covering protocols on a wide range of public chains including Ethereum, Binance Chain (BSC), HECO, Solana, Polygon and Fantom.

InsurAce has partnered with Alpha Homora, Uniswap, 88mph, Elrond Network, Bella Protocol and Dora Factory to provide coverage against smart contract vulnerabilities for users

Decentralized insurance acts as a safety net for the #DeFi ecosystem.

InsurAce is a leading decentralized insurance protocol providing reliable, robust, and secure insurance services to DeFi users.

PERP

mStable, Horizon Finance, Maple Finance, InsurAce, and Perpetual Protocol, five major DAOs have invested in dHEDGE. DAOs that had previously invested in the protocol -The LAO, dHEDGE DAO, and Synthetix DAO - have shown impressive statistics with performance above 100% in under six months.

InsurAce Price