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PolkaInsure (PIS) is a decentralized insurance project that aims to be one of the first pioneers to provide insurance for DeFi projects running on Polkadot, similar to Cover Protocol (COVER) ) but on Polkadot instead of Ethereum.
The project also aspires to become a P2P marketplace, which allows anyone to claim insurance and anyone to provide insurance on the platform.
PolkaInsure will be operated on the Polkadot blockchain as soon as Polkadot completes the mainnet in the near future. Everything is transparent so claims and collateral can be easily audited on-chain. Currently, the project is running on the Ethereum blockchain, but it is expected that in phase 4 (Q2-2021), PolkaInsure will switch to Polkadot.
What’s outstanding about the PolkaInsure project?
P2P Insurance Market
The market is run entirely by users of Polkadot’s ecosystem and participating users will receive PIS tokens – PolkaInsure’s governance token. Anyone can claim insurance and anyone can provide it.
No KYC
Users can buy insurance on PolkaInsure without KYC.
Decentralized
PolkaInsure smart contracts will be audited, deployed and validated on the Polkadot blockchain.
Instant Payment and Full Mortgage
Claiming will take place on smart contracts, this ensures instant payments and fully collateralized insurance policies.
Deflationary Farming
This is a new form of farming that does not generate additional tokens, which does not affect the price of PIS.
So what is the reward of Deflationary Farming? That is the transaction fee collected on PolkaInsure.
Information about the PIS . Token
- Token Name: PolkaInsure Token.
- Ticker: PIS.
- Blockchain: Ethereum.
- Token Standard: ERC-20.
- Contract: 0x834ce7ad163ab3be0c5fd4e0a81e67ac8f51e00c.
- Token type: Utility token, governance token (Utility, Governance).
- Total supply: 80,000 PIS.
- Supply of circulation: 61,660 PIS.
Token PIS Allocation
Token Sale
- Private Sale: Total 8000 PIS tokens at 1.4USD/PIS
- Public Sale: Total 24000 PIS tokens at 1.8USD/PIS
Token Release Schedule
- Private Sale: 4-week course.
- Liquidity: Lock for 2 weeks.
Token Use Case
Actually, the information about the intended use of PolkaInsure Token (PIS) is quite vague and unclear. Coinpres will update more
How to earn and own PIS . Token
Users can join Liquidity mining to earn PolkaInsure.
In addition, users can buy on exchanges that support PolkaInsure.
PIS . Token Storage Wallet
PIS is an ERC-20 token, so you can completely store PIS coin on wallets that support the erc-20 standard such as:
- Myetherwallet
- Trust Wallet
- imToken
- Frontier
- Metamask
- Coin98 Wallet
Token Exchange PIS
PolkaInsure is now tradable on Uniswap, Hoo.
Phase 1 in Q3 2020
- Research on insurance protocols and needs in DeFi.
- Research on the DeFi Polkadot ecosystem.
- Gather the team and develop the Project.
Phase 2 in Q4 of 2020
- PolkaInsure protocol design.
- Tokenomics Design.
- Smart contract and website development.
- Token Sale.
Phase 3 in Q1 2021
- PolkaInsure contract development.
- Complete the token sale phase.
- Deflationary farming.
- Integrate DeFi projects into PolkaInsure.
- Partnerships, Marketing and Branding.
- Listed on Polkadot Project Ecosystem, Polkastarter.
Phase 4 in Q2 2021
- Migrate the token standard from Ethereum to Polkadot.
- Shield Mining.
- PolkaInsure Live Protocol to protect DeFi projects on the Polkadot Ecosystem.
- Integrate DeFi projects into PolkaInsure.
According to the information on the PolkaInsure website, below are the members of the PolkaInsure team.
There is one thing worth noting here, in addition to the telegram channel for communication, all information about the members of PolkaInsure’s team is still unclear and anonymous. Even, I have checked the accounts of PolkaInsure members, most of them have “Last seen within a month”, which means they have been offline for a long time, all information from the project is still very limited. So you also need to pay attention to this issue!
Information about the project PolkaInsure
Up to now, the information about the PolkaInsure project is quite limited and unclear. Coinpres will monitor and update more soon
PolkaInsure’s Rivals
In my opinion, PolkaInsure is a project with a very good idea and knows how to catch the trend, with the current trend being Polkadot. However, if a project has only a good idea, it is not enough, but also includes many other factors such as the way of doing and the capacity of the development team, but here I do not know the team. Who is the developer and most of all, a lot of information is still very limited! You need to be careful when investing in PolkaInsure (PIS)!
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