What is Polkainsure Finance (PIS)

What is PolkaInsure

As the name implies, PolkaInsure is a decentralized P2P insurance marketplace on Polkadot Ecosystem powered by Polkadot Ecosystem. The protocol aims:

to be one of the first pioneering protocols offering coverage for DeFi projects running on Polkadot Ecosystem.

to be a P2P market place that allows any user to request insurance and anyone to provide coverage.

A Peer to Peer Insurance MarketPlace for Polkadot Defi users

The marketplace is run entirely by Defi users in the Polkadot Ecosystem, and users who join will get the PIS governance token. Any user can request insurance and anyone can provide coverage.

Powered by Polkadot

PolkaInsure runs on the Polkadot blockchain. Everything is transparent. Claims and collateralization can be easily audited on-chain.

NO KYC REQUIRED

You could buy Coverage on PolkaInsure without having to do KYC

DECENTRALIZED

PolkaInsure smart contracts will be audited, deployed and verified on the Polkadot blockchain

Instant Payouts and Full Collateralization

Claims are handled by smart contract code which ensures that payouts are instant and insurance contracts are fully collateralized.

Why PolkaInsure?

2020 has been the year of DeFi in the crypto industry, with many projects transforming traditional financial products to decentralized ones. Most of the DeFi protocols are developed using smart contracts based on public blockchains such as Ethereum and Polkadot parachains.

The transparency of blockchain requires all DeFi projects to become open source in order to gain the trust in communities. Due to running on public blockchains where any one can make transactions to any DeFi applications, DeFi smart contracts have been targeted by lots of white-hat hackers, who have been stealing millions of USD stored in the smart contracts by exploiting technical and economical vulnerables in the smart contracts.

Developing a DeFi app without any vulnerable is very hard, even impossible as every thing is transparent in public blockchains. Insurance for DeFi has been one of the hottest trends in crypto to cover for loss of funds in those DeFi projects.

Several insurance protocols have been implemented and run on Ethereum. Examples are Cover Protocol, Nexus Mutual, Nsure.Network. However, most of those protocols run on Ethereum while an insurance protocol on Polkadot Ecosystem is still missing.

Polkadot is a very fast evolving ecosystem where many DeFi projects have been implemented and deployed to speed-up the transformation from centralized finance to decentralized finance. An insurance protocol like PolkaInsurance becomes a must to cover losses of users in cases of attacks.

Why Polkadot?

Polkadot is a very fast evolving ecosystem.
Transaction fees on Ethereum have become a serious problem where a swap transaction on Uniswap can cost 50$. This is unacceptable for DeFi to become mainstream to replace CeFi.
An insurance protocol is missing in the Polkadot Ecosystem.
Huge potentials that Polkadot bring to the PolkaInsure protocol as all parachains in Polkadot Ecosystem can be inter-connected with each other.

PolkaInsure Roadmap

Phase 1 — Q3 2020: Market Research and Positioning

Research on Insurance Protocols and the need in DeFi
Research on Polkadot DeFi ecosystem
Team Forming and Project Branstorming

Phase 2— Q4 2020: Market Research and Positioning

PolkaInsure Protocol Design
Tokenomics Design
Smart contract and web development
Token Sale

Phase 3— Q1 2021: Market Research and Positioning

PolkaInsure contract development
Token sale completion
Deflationary Farming
Onboarding DeFi projects onto PolkaInsure
Partnership, Marketing, and Branding
Listing on Polkadot Projects Ecosystem, Polkacaster

Phase 4— Q2 2021: Market Research and Positioning

Token Migration from Ethereum to Polkadot
Shield mining
PolkaInsure protocol Live to protect DeFi projects on Polkadot Ecosystem
Onboarding DeFi projects onto PolkaInsure

As a long term plan, once the protocol is live, we will be onboarding projects not only in Polkadot Ecosystem, but also offering coverage for DeFi projects on other public blockchains.

Tokenomics

Total Token Supply: 100,000 PIS

Token Distribution

Token public sale: 30%
Add Liquidity Uniswap: 30%
Shield Mining: 20%
Founders and project team: 5%
Private sale: 10%
Marketing: 5%

Token Sale

Private sale: $1.4/PIS
Public sale: $1.8/PIS
Tokens sold in Private Sale will be locked for 4 weeks

Would you like to earn PIS token right now! ☞ CLICK HERE

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What is Polkainsure Finance (PIS) | What is PIS token