Unslashed is built around 9 essential pillars.
1. QUANTITATIVE MODELLING AT HEART
Most of our team members either have backgrounds in finance or mathematics in addition to being entrepreneurs, technologists and crypto early adopters. Since our early days we wanted to figure out different ways to approach multidimensional blockchain risks and model them. We onboarded quants from TradFi and managed to build and calibrate some models that allow us to fairly price risk and start structuring insurance products. This is one of the most difficult aspects of insurance and this is ongoing R&D that we will be conducting over the coming years. Our objective is to make sure security for blockchain and crypto is a no-brainer.
2. VERTICAL AND HORIZONTAL DIVERSIFICATION
Diversifying across multiple smart contracts is not enough. Similar design patterns lead to similar attack vectors — the last few months proved it, repeatedly.
We chose to diversify our Underwriters/Capital Suppliers risk across as many verticals as possible beginning with smart contract risk, validator slashing on different PoS networks, exchange hacks, etc.
This level of diversification allows Capital Suppliers to be hedged and ensures they are handsomely rewarded with premiums for being the heroes that crypto needs.
3. PREMIUM STREAMING & REAL TIME PAYMENTS AS CORE PIECES OF OUR DESIGN
Blockchain technology makes it possible to think in « real time ». Seamless transactions, smart contracts that can be called whenever we want, 24/7 oracles, and more.
We decided not to throw some « real time » glitters in our product but to think of it as being real time.
What does this mean ?
➡️ For the insured, you only pay what you use and when you use it. You start and end your cover policy whenever you want, and the premium payments are calculated live. Cool, huh?
➡️ For underwriters/Capital Suppliers: you receive the premium payments live as they are streamed to you. You are never locked in a specific policy for an amount of time; we designed our protocol so that you might **leave a pool or a bucket whenever you want **orhave accessto liquidity in order to close your position. Sweet taste of freedom!
4. CAPITAL EFFICIENCY
Former crypto-insurance models were lacking something important. They did not make the best use of the capital on their contracts, making scalability a utopia and raising premium prices.
We improved it in three ways:
➡️ The buckets: they spread risk across multiple pools and make it possible to use the supplied capital with a uniquely computed and updated leverage for each different bucket based on numerous criteria.
This means higher yield that results from a higher diversification. 🤯
➡️ All supplied capital could be used for insurance. There is no Liquidity Pool associated with a bonding curve or an AMM that has a devastating slippage. 🥳
➡️ The Supplied Capital can be put to work the same way it is done in traditional insurance. This also explains the close ties between Insurance and Asset Management. Money never sleeps. 💰
5. SMART LIQUIDITY
We love DeFi legos: seeing protocols being interconnected and using each others tokens to add value.
We let Capital suppliers and coverage seekers trade their underlying tokens at will on external platforms. Both sides’ positions are tokenised and are classic ERC-20 tokens.
We believe that doing so will allow **other protocols to build on top of Unslashed and create more added value (for example by issuing risk-free tokens that combine a position + insurance) or ** letting users arbitrage their personal risk/insurance exposure (for example selling their premium tokens at a higher price when there is a lack of capital to offer more insurance).
We are confident you will love that.
When a claim occurs, the ones in charge of deciding whether it is valid should be unbiased. Thisseems obvious to us.
We will have a 100% independent claims system. Period.
7. PRODUCT INNOVATION
Insurance was long limited to DeFi protocols and covered smart contract hacks only. That is a short sighted view, as risks are much more present than we first think.
We analysed and broke-down the current and future risks a user could face in crypto and we decided there was a need to expand the protection to new territories: custody, hardware and software wallets, validator slashing on PoS networks, oracles and stablecoin USD pegs.
We are going to cover much more tomorrow.
Excited? Not as much as we are.
Blockchain and Smart-Contracts allow to have something that is very difficult to obtain in the traditional insurance world: transparency. A transparent system means an insurance provider’s health and risk exposure could be audited by anyone. Most traditional insurance companies are blackboxes even for the regulators, let alone external auditors. Cover seekers and protection buyers should require this level of transparency.
We are giving you the power back. We think you deserve it.
9. “HACK ONCE, WIN TWICE” RESILIENCE
Some hackers try to play it smart: before exploiting a vulnerability and stealing funds, they would buy coverage to bet on the hack. After the hack is performed, they would claim a compensation, earning twice in the process. And a KYC doesn’t stop them.
An insurance product only covers and compensates real losses. Our protocol can not be gamed by this kind of behaviour unless the hacker is willing to put his own money at risk. As a result, our users would not have to pay for this kind of exploit.
Unslashed is based on a total of 86 million UNSLASHED tokens.
The distribution of tokens is as follows:
The mission of the Unslashed DAO is the governance the Unslashed protocol. The DAO will decide on the entire strategy of Capital Mining. It will also decide on the listing/unlisting of different insurance products and offered services. Generally speaking, the DAO will have a say on all decisions that impact the protocol.
A strategic reserve to ensure the long-term growth of the protocol.
Current and future Team Members’ and advisors tokens are locked for 1 year and vested for 4 years.
The founders’ tokens can be vested for periods of time longer than 4 years. At the end of the first year of lockup, an announcement of the extended vesting might be made.
We are proud of our investors. We first raised funds in the middle of the corona outbreak (March/April 2020). As everything collapsed during the onset of the Corona virus crisis, ALL of our investors who promised to invest kept their word. This confidence in our project and their ongoing support was a core driver for us, and has enabled us to develop Unslashed Finance to become what it is, pay the salaries, audits, and more. Without them, nothing would have been possible.
Investor tokens are locked for 1 year and vested for 2 years.
Would you like to earn TOKEN right now! ☞ CLICK HERE
USF has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy USF
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Since USF is an altcoin we need to transfer our coins to an exchange that USF can be traded. Below is a list of exchanges that offers to trade USF in various market pairs, head to their websites and register for an account.
Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase USF from the exchange: Uniswap (V2)
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once USF gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
Find more information USF
🔺DISCLAIMER: Trading Cryptocurrency is VERY risky. Make sure that you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your funds
Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
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