Is the utility token for the Nsure Network.
What is NSURE token used for?
- Stake on DeFi project to earn fees from users buying insurance.
Why would value accrue to NSURE?
- Fees from insurance purchases
- Capital mining (55M tokens in total at ~10 000 /day)
- Leverage. Stake 4x initial capital
- Buyers of insurance also receive rewards
Potential Value generation
- Tokens are locked in epochs of 14 days and have a 7 – 30 days timelock on withdrawals.
Nsure Network explained
Nsure.network is a platform for insurance on Ethereum.
Vote-based Dynamic Pricing Model
Insurance premiums are calculated from
- TVL per project (DefiPulse and a few other indexes)
- NSURE staked per project.
Paid premiums for insurance are divided as follow
- 50% Stakers (underwriters)
- 40% Surplus pool
- 10% MCR (added to surplus if no claim)
ETH, NSURE, USDT, DAI, and USDC can be used to purchase insurance (all funds will be converted to a stablecoins for risk management).
To attract users the policyholders will also get some share of the capital mining. NsureDAO will vote on exact figures.
The Capital Model
- 40% of the premium will be added into the surplus pool
- 10% will be reserved till the contract expires.
In case of no claim, it will add into the surplus pool. If the surplus pool cannot cover all the claims, the capital pool will be used to pay the rest. When the surplus pool grows large enough, the mining speed will slow down. The community can vote to use the surplus pool to repurchase tokens for burns.
Nsure Staking (Underwriting).
Nsure token holders can stake on different projects to earn 50% of the premiums at a linear release. The Capital model determines the overall staking power by taking into account the correlation between different projects. Tokenholders can earn more premium by staking with up to 4xleverage on uncorrelated projects.
The total insurance limit offered
2x times the staked tokens on that project.
Capital providers receive tokens.
Total: 55% of total supply (55 000 000)
Every Ethereum block (15 – 30s)
- 2 NSURE will be given proportionally to all capital providers.
- 2x~5000 =~10 000 tokens/day
3-phase crowd voting mechanism
Any policyholder can submit a claim by staking NSURE.
Voting in 3-steps
- Policyholders > 50%
- Auditing Firms
If passed in all three steps then the claim is valid.
50% of the claim amount equivalent NSURE tokens staked will be burned equally to share the loss.
Nsure will set up a DAO consisting of members with expertize in the area. Any of the members can be replaced by voting and any tokenholder can take one of these spots.
Some powers that committee members have are:
- Reaching consensus to implement specific code that cannot be automatically deployed
- Punishing bad actors within the Nsure ecosystem
- The power to implement emergency suspension under special circumstances.
Tokens will initially be issued to a small group of people who will serve as beta product testers to provide feedback on complex insurance products before their release.
Users can acquire tokens either through Balancer Liquidity Bootstrapping Pool or capital mining.
Out of 100 million NSURE:
- 55% Capital / Insurance mining.
- 1% Seed round.
- 14% Private Sale (20% unlocked, 20% release every 3 months (>1 year total vesting period).
- 10% Foundation Reserve.
- 10% Marketing & Operations.
- 6% Team.
- 4% LBP.
Seed token price
1 Token = 0.05 USD