Nsure Foundation Subsidy Program for 1st Batch Products
Nsure Foundation is granting selected Protocols out of the first Batch of listed products in the recently launched risk marketplace. Up to 1M Nsure tokens allocated to subsidise underwriting.
We’re pleased to release the Batch 1 Subsidy Program, a subvention given to selected Protocols, aiming to boost capacity, pricing and stability of these products within the market place.
A total of 1m Nsure tokens have been allocated by the Nsure Foundation into the Underwriting contract, and will be gradually deployed upon need, based on policy demand for each product.
Main criteria for the Subsidy is to increase Underwriting capital on the nominated products, to assure optimum liquidity levels are reached, for policy buyers to have increased capacity to purchase insurance from, as well as providing optimised pricing for policies.
Given the recent launch of the marketplace, this grants nominees an edge over their listed insurance products.
As liquidity increases within the platform, and underwriting capacities provided by users mature, the subsidised capital will be adjusted and reduced accordingly.
Any premiums in ETH collected by these underwritings will be relocated into the surplus pool to nurture the platform.
Allocation Thresholds for the Subsidy are set as follows:
- 4/5 Star Rating:
Up to 300k $Nsure allocated
- 2/3 Star Rating:
Up to 200k $Nsure allocated
- 1/2 Star Rating:
Up to 100k $Nsure allocated
The selected grantees for the Subsidy Program include: Bancor, Balancer, RenVM, Badger DAO, dHEDGE, 88MPH V2, Unagii, Boring DAO and KeeperDAO.
Above-mentioned thresholds will mark the cap for each product and their allocated subsidy.
The dedicated wallet addresses holding subsidised funds are:
These have received a total of 1m Nsure and deposited into Underwriting, but will not be deployed at once, rather gradually upon need to preserve incentives on users that are participating as Underwriters.
These funds will at no point in time enter into circulation nor released to the market, and be exclusively dedicated to support the Grant program.
We’d like to congratulate all nominees and thrive their communities to enjoy from the products and features released within the risk market place.
Additional documentation in regards to platform usage, model design, manuals and other can be found under:
About Nsure Network
Nsure is an open insurance platform for Open Finance (DeFi). The project is inspired by Lloyd’s of London, a market place to trade insurance risks, where premiums are determined by a dynamic pricing model. Capital mining is implemented to secure the capital required to back the risks at any point of time. To learn more about Nsure Network go to Nsure.Network or follow us on Twitter or Telegram.
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