inSure - Whitepaper - Cryptocurrency Insurance

What we do Our mission Our goal

Offering the Best Insurance for Crypto Portfolios

We are tired of seeing people get scammed and having no collateral for their DeFi losses. Our solution will protect your portfolio from scammers and unexpected losses.

We provide different plans that are very clear and simple to understand.

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Protect Crypto Investors from Scammers & Devaluations

The first idea behind this project is to get rid of the situations where our fellow investors lose their money completely.

We are here to provide stability to the crypto world and protect people from their mistakes and from fraudulent activities of others.

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Help as Many Investors & Traders as Possible

We don't want our fellow investors & traders to end-up in a situation where they lose most of the crypto portfolio because of unexpected causes.

Helping other people is very important to us. We are willing to establish a 24/7 support system to help as many people as possible.

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Strength is in Honesty

inSure Ecosystem's Whitepaper

Strength is in Honesty

inSure Token Risks

We believe in honesty and integrity that is why we openly disclose the token risks with our community members

inSure Token - Infinity Project

How it works?

Acquire SURE tokens Submit Request Receive Payment

Acquire SURE tokens

In order to insure your crypto portfolio, you simply need to purchase/acquire SURE tokens from available exchanges.

Insurance will be enabled after 7 days of placing SURE tokens into your private wallet.

SURE tokens have to be in Ethereum chain.

Please refrain from storing your SURE tokens on centralized exchanges. In order to process the insurance claim, you will need to create a proposal on Snapshot (Please see "Submit Request") with your wallet that holds ERC20 SURE.

Stake SURE on Uniswap by Contributing to Liquidity Pool and still be insured (Insurance policy is valid when you use your SURE tokens to contribute to the LP)

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Submit Request

If your portfolio was affected by scam, drastic devaluation or stolen funds (exchange closure) we will be happy to reimburse your losses based on the plan chosen by you.

If you were unlucky and was affected by one of three reasons mentioned above, please create a ticket on Snapshot including:

Title: "[inSure DeFi] - [Insurance Claim] - [Coin/Token Name]"

1. Name of the crypto coin/token with the link to Coinmarketcap and Coingecko

2. Your Affected wallet address

3. Date of the incident

4. Your email and/or Telegram ID

5. Additional information to take into account

Please give us 3-4 business days to process your request (we will investigate the issue and provide the best available resolution)

Once the investigation is completed by the support team, the ticket with the summary of the Insurance Claim will be created on Snapshot with the link to the original request for the inSure DAO approval.
Anyone who holds SURE can vote on the insurance claim.

Create Insurance Claim

Receive Payment

We will process your request with diligence and will initiate a transfer of SURE tokens in the amount of insured value based on the plan chosen by you.

We will be placing the BUY order of SURE tokens and will notify you that you can exchange SURE tokens to ETH or BTC.

You are not forced to sell your SURE tokens, instead, you can sell later to other investors who need insurance of their Crypto Portfolio.

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Your Questions About inSure DeFi

Here are the most frequently asked questions from our community members

How do I stake SURE?

The staking is only available via LPs on DEXs.
No single sided staking is available.
Visit Staking Page Here.

What are the details around the terms of use describing the events you can have insurance for?

The insurance will be covering any crypto funds owned by the same wallet, crypto funds ownership, and SURE wallet ownership has to be proven before the request can be processed and the insurance claim fulfilled. I.e. let's say you owned N amount of XYZ crypto and crypto lost its value you will have to prove the ownership of devaluated token/coin (signing the message from the wallet that holds XYZ or if it is on the exchange by sending XYZ funds from the exchange) I.e. we have the process to verify the ownership of the funds hence even if you hold funds in another wallet the insurance plan will cover all the crypto assets in the amount insured based on the chosen plan. The token/coins must be trading on multiple CEXs (2+) and available on Coingecko and Coinmarketcap to be eligible for insurance claims.

Meme and Ponzi scheme projects are not covered by inSure DeFi community.

What are the main risks owning crypto assets?

Three main problems of owning crypto at the moment:
1. Stolen Funds - inSure plans cover the funds that are held by the custodians/exchanges. If exchanges are closed (publicly verified information) then the claim will be fulfilled in the amount based on the policy holder's plan.
2. Scams - social engineering or other types of scams that can be proven that the customer can't retrieve the funds back. For example, depositing to the exchange your crypto funds and CEX never responds to you on what happened with your deposit. Withdrawal from CEXs etc. (Publicly verifiable information). Swapping/buying from the wrong SC are not covered.
3. Devaluations - Crypto assets that lost the value to the community member completely (> 98% of initial value). Similar to totalled cars, we will ask the policyholder to send devaluated tokens/coins to the community wallet to get the reimbursement based on the chosen plan.

How long does it take to file and get a claim?

The insurance plan has to be on the wallet for 7 days before it can take effect and the claim will be valid.

How do you prevent fraud in inSure Ecosystem?

Insuring publicly verifiable information, an audit of transactions, and communicating to the policyholder to get more details if needed. All the requests have to be signed with the wallet that holds SURE tokens. I.e. only SURE owners can file the claim. If the claim is fraudulent the SURE tokens will be burnt from the account.

What should I do with old tokens?

Old tokens are not supported by inSure DeFi Community. All the members who bought SURE before June 12th, 2021 have already received equial amount of new SURE token.
Old tokens are not swappable for the new tokens, do not use them!
Check the smart contract addresses here.

How do I insure my Crypto Portfolio?

You can easily insure your crypto portfolio by simply buying SURE tokens. Please choose one of the plans that meets your insurance needs. Please make sure that the address of the token is: 0xcb86c6a22cb56b6cf40cafedb06ba0df188a416e

Can I buy SURE tokens from someone else?

SURE tokens are liquid and tradable through Centralized and Decentralised exchanges. That means anyone can become a reseller of insurance plans. Please use official exchanges to trade SURE tokens.

Can I buy SURE tokens after my Crypto Portfolio was affected and still be insured from previous losses?

Insurance coverage is only valid after SURE tokens are purchased and placed to the private personal wallet.

I am the holder of SURE tokens, how do I get reimbursed for my losses?

To be compensated by inSure System, the users must submit the claim request. The process is described in "How it works?" section.

Can I invest my money into SURE tokens?

Yes, you are allowed to hold and sell SURE tokens at any time. Your Crypto portfolio is insured based on the purchased plan & when SURE tokens are stored in your private wallet. Since the value of the SURE token fluctuates, by trading SURE token you have potential to increase the value of your crypto portfolio.

What do I do with SURE tokens after my insurance is terminated?

You can also add previously owned SURE tokens into a new plan or renew the old Plan with a 50% discount. In order to be insured for the next term, you will need to purchase a new plan or upgrade your previous plan by adding more SURE tokens. Please see the available plans above.

Does the premium go up with a claim?

We have a dynamic pricing model, where we calculate the risk based on the volatility of the markets, the stats on the fraud in crypto, demand on the insurance plans in the market.

Who do you see as the closest competitor?

We don't have other competitors who have the same services that we provide right now. The closest projects will be Etherisk and Cover Protocol.

You are using community funds for covering a claim, how can this run out?

Community funds: risk pool is reinvested to generate the surplus funds which will be used to rebuy SURE tokens after inSurance claim fulfillment. I.e. inSure Community can run as long as a community or new members still requires to distribute the risks of their investments. If the surplus funds will pass the safe level based on the amount of inSure plans in the market, we will initiate a buyback process (described in the whitepaper) from the markets increasing the value of SURE. The newly bought SURE tokens from the market will be distributed to SURE holders based on the size of the initial stake.

I'd like to understand more on the token economics?

~85% of SURE funds are locked for the future insurance products, DeFi mutual fund, and hedge funds that we are working on establishing in 2021-2022. The funds may be unlocked in "force majeure" situations to cover the insurance claims of a bigger size. Currently, we have ~14% in circulation, anyone can join inSure Community and become a member of inSureDAO that will allow SURE holders to vote on the future priorities of the community and on the solutions for controversial situations.