Nsure Report by Jesse

As usual, thank you for joining us for another week in our crypto adventure. Today we’ll be looking into the growing blockchain insurance contract space. While there’s less than a handful of projects catering to protecting us from impermanent loss, as mentioned before in our report about Raribles. Most of these options are sold out or unavailable outside of third party markets now. With security for DeFi liquidity growing at the same rate as the pool's Ethereum balance, we'll be looking at newcomer Nsure Network this week.

Introduction

Nsure Network is an open insurance platform for Open Finance. The project borrows the idea of Lloyd’s London, a market place to trade insurance risks, where premiums are determined by a Dynamic Pricing instead of a Fixed Pricing Model. Through the use of capital mining, Nsure will be able to secure the capital required to back the risks at any point. A three-phase crowd voting mechanism will be used to ensure every claim is handled in a permissionless and transparent manner. With this vote-based dynamic pricing model, Nsure will be able to find the right price for customers via supply and demand. Allowing them to better cater to the individual needs of its users. Taking from the Llyod’s of London model, Nsure operates as a mutualized marketplace consisting of many financial backers, grouped in syndicates, convened to pool and spread risks. These underwriters, or what's known as "members," include both corporations and private individuals. With this type of system, the Nsure Network itself acts as the broker between the two to help buyers and sellers meet an optimal match.

With main net set for release in Q1 2021, the Nsure Network currently