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Summary of InsurAce
Key Points
- InsurAce.io is a decentralized protocol offering insurance services with low premiums, high ROI, cross-chain coverage, and wallet availability.
- The platform has two platforms: insurance and investment, functioning synergistically to provide stable profits.
- Users can remain anonymous, avoiding KYC process.
- InsurAce received $1 million in backing from various funds and raised another $3 million in a strategic round.
Founders and Team
- Founder and CEO: Oliver Xie, a programmer and cryptocurrency enthusiast.
- Other key team members: Sum Wei (tech lead) and Leo FIA (product
About InsurAce: Empowering a Secure Future
Introducing InsurAce.io (INSUR): A Revolutionary DeFi Insurance Platform
InsurAce.io is a decentralized protocol designed to provide trustworthy insurance services. By offering flexible and reliable coverage, the protocol safeguards decentralized finance (DeFi) assets. The purported advantages for users include competitively low insurance premiums, attractive returns on investment, seamless cross-chain coverage, and convenient wallet accessibility.
InsurAce.io is a pioneering protocol that converges DeFi and insurance, comprising two interconnected platforms: insurance and investment. These platforms operate in harmony, generating stable returns for the insured, insurer, and investor, while offering a revolutionary concept dubbed “zero-premium insurance.” According to the developers, the platform’s innovative portfolio-based product design, coupled with a distinctive pricing model and sustainable investment returns, enables users to achieve unprecedentedly low premiums, approaching zero.
Users are afforded the luxury of anonymity, thereby bypassing the need for a Know-Your-Customer (KYC) verification process.
At the heart of InsurAce lies a vision to establish a decentralized finance (DeFi) insurance protocol at the infrastructure level. Launched in October 2020, the project has garnered significant support, securing $1 million in funding from esteemed investors, including DeFiance Capital, ParaFi Capital, Huobi DeFi Labs, Hashed, Signum Capital, and LuneX Ventures. In a strategic round held in February 2021, InsurAce further bolstered its coffers with an additional $3 million injection.
The Visionary Founders Behind InsurAce
Oliver Xie, a seasoned programmer and ardent cryptocurrency enthusiast, is the visionary founder and CEO of InsurAce. Notably, he has an impressive background, having previously served as the Chief Technology Officer, Head of Digital Assets, and founding member of the Asia Pacific Exchange (APEX).
InsurAce boasts its headquarters in Singapore, with a stellar team comprising tech lead Sum Wei and product lead Leo FIA, among other key members.
Unveiling the Unparalleled Advantages of InsurAce (INSUR)
At its core, InsurAce is committed to safeguarding users through seamless product accessibility and optimized investment efficiency. As touted by the team, the platform’s key benefits include “zero” premiums, liquidity mining, and sustainable returns.
The protocol is designed to assess and mitigate risks, thereby facilitating more effective loss management. InsurAce envisions a comprehensive suite of products that will provide coverage for a diverse array of DeFi protocols. Furthermore, insurers will have access to a broad spectrum of asset pools, which will, in turn, help reduce coverage costs.
What Is the Circulating Supply of InsurAce (INSUR) Coins?
INSUR, the governance token of InsurAce, was introduced through a Liquidity Bootstrapping Pool (LBP) event on Balancer, which commenced on March 15, 2021, and spanned 48 hours. Built on the Ethereum blockchain, INSUR boasts a total supply of 100 million tokens.
The token distribution is allocated as follows: 45% is reserved for mining, 20% is designated for seed and private sales, 18% is allocated to the DAO reserves, 15% is assigned to the team and advisors, and 2% has been transferred to the Balancer LBP.
As of April 2021, INSUR boasts a circulating supply of 8,070,036 tokens, underscoring its robust presence in the market.
The InsurAce Network’s Robust Security Framework
INSUR is an ERC-20 token, underpinned by the robust security of the Ethereum blockchain.
Furthermore, a decentralized autonomous organization (DAO) assumes responsibility for the governance and oversight of InsurAce, with membership contingent upon the ownership of INSUR tokens.
Additionally, an advisory board comprising InsurAce employees and independent experts has been established. This board exercises oversight of the DAO community’s affairs and provides pertinent recommendations as needed.
Where to Acquire InsurAce (INSUR) Tokens
INSUR is listed on a variety of prominent cryptocurrency exchanges, including but not limited to:
- Huobi Global, a prominent cryptocurrency exchange
- Uniswap (V2), a decentralized exchange protocol
- Gate.io, a renowned digital asset platform
- MXC.COM, a leading cryptocurrency trading platform
- Bilaxy, a cutting-edge digital asset exchange
Delve into our comprehensive guide, where we demystify the process of acquiring Bitcoin and other cryptocurrencies, providing you with a seamless entry point into the world of digital assets.
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