inSure DeFi (SURE) is a community-based crypto portfolios/DeFi insurance system that aims at creating an ecosystem that distributes the risks, where premiums are determined by a Dynamic Pricing Model.  ^[1]

Overview

SURE was Launched on 1 July 2019 by a team based in Iceland, inSure System aims to provide stability to the crypto world and protect investors from scams, stolen funds, and drastic devaluations of crypto portfolios.^[2]

inSure is a community-based crypto portfolios/DeFi insurance system. The project aims to create an ecosystem to distribute the risks, where premiums are determined by a Dynamic Pricing Model. Capital required to back the risks at any point in time is based on the market pricing of SURE tokens and community demand for insurances of the crypto portfolios.^[3]

The Decentralized support system is established to diligently process all the insurance claims and implement the layers of inSureDAO voters to make sure any fraudulent claims are flagged and only valid claims are fulfilled.

inSure is purposefully designed to solve the agency problem and allow anyone to become an insurance issuer for the DeFi sector and crypto portfolio holders. inSure ecosystem is created to protect traders and investors from scams and drastic devaluations that threaten crypto portfolios.

inSure’s Crypto insurance is based on;

• Dynamic Pricing Model; to find the right market price via supply and demand;
• The Capital Model, to secure the capital required to back the risks at any points of time; and
• inSureDAO voting mechanism, to make sure every claim is handled in a permission-less and transparent manner. ^[4]

InSURE is a multichain protocol and works on Ethereum, Binance Smart Chain, Polygon and Avalanche. Q1 ,2021 they also implemented products which cover NFTs including their own inSURE NFTs.^[7][8]

Insure Token Distribution

The first issuance is aimed at a small group of cryptocurrency enthusiasts, who also serve as beta product testers to provide feedback on complex insurance products prior to their release.

The short to mid-term development goal is to build a safe product/plans that serve the DeFi sector’s and crypto investors' insurance needs. Majority of the short-term inSure tokens will be distributed via risk pool increase and through the participation of the inSureDAO.

Broader sales, distribution, and marketing channels will be established once the product has a consistent base of users. Given that future iteration of the insurance products requires users to purchase inSure tokens to Stake or to be utilized as currency for settlement, a set of sale and payment procedures, as well as wallet tools will be developed to achieve large-scale growth. ^[5]

Insurance Plans

InSure generally provides insurance coverage for three types of mishaps - Scammers , Devaluations and Stolen Funds. The coverage starts from 70%-80% for $1000 and then can give 100% for assets/portfolio that have insured value of more than $140000. The duration of the protection starts from minimum 4 months and goes up to 2yrs. These plans are sub-divided and named according to duration and the value insured. The user needs to buy the required number of SURE tokens relative to the duration and value insured in order to get the coverage.
The table below explains it - ^[9]

Staking

inSure offers a staking program for the SURE token holders. They can earn 24% APY (2% per month) by providing liquidity in SURE tokens on the decentralized exchanges. The users need to stake SURE for minimum 30 days to earn rewards.

Liquidity Program

inSure is building the future of digital asset insurance. An essential element of that future is having a liquid marketplace where the SURE token can trade. Users of the inSure ecosystem need to be able to seamlessly transition between SURE and other digital assets.

The holders need to stake SURE paired with ETH or BNB on any of the Uniswap, PancakeSwap, QuickSwap and TraderJoe to enter the Liquidity program. 8 000,000 SURE tokens are rewarded monthly to liquidity providers. These rewards are available to every liquidity provider who locks both ETH and SURE into the Uniswap pool for at least 30 days. These rewards will be in addition to the 0.3% in trading fees that Uniswap allocates to liquidity providers. The rewards in the liquidity program are renewed on a monthly basis. Rewards are paid on Polygon network.

Criteria and Rewards Distribution

• Liquidity providers must have at least 0.5 ETH of liquidity and 0.5 ETH worth of SURE tokens.
• Any liquidity provided is eligible for rewards 30 days after the liquidity was allocated
• Rewards are distributed based on a liquidity provider’s proportionate share of the pool
• If liquidity is removed, previous liquidity that is awaiting rewards is disqualified. In this case, the liquidity provider will need to wait at least 30 days from the next time they add liquidity
• At the end of each rewards period, the liquidity rewards are split proportionally among liquidity providers^[6]