What is Nami Insurance
Nami Insurance is a decentralized hedging protocol that applies Blockchain technology to provide a reliable and transparent decentralized insurance service, minimizing the risk of user's loss of property value when the market has strong price fluctuations.
Nami Insurance allows users to choose the type of Asset to be covered, the insurance margin in accordance with the value to be protected and the duration of the insurance. In return, users receive a cover payout when the asset's price reaches a predetermined threshold.
- For users: providing superior, flexible transaction insurance services, minimizing risks when trading
- For business partners (for off-chain transactions): passive income from commissions extracted from premiums
- For Nami: is a unique product, creating more competitive advantages in the market, a new revenue channel
Nami Insurance is operated based on Insurance Pools including Margin Pool; Claim Pool, respectively, are Smart Contracts created publicly. Each Pool is an important component in the cyclic operation cycle.
- Margin Pool: A Pool that receives the total amount of margin from users with closed Insurance contracts. The output of this pool is transferred to the Claim Pool for cover payouts, the remaining balance is sent back to Nami Fund Wallet.
- Claim Pool: is the source of payment for user's cover payouts; the input of this Pool is sourced through Margin Pool. If the Margin Pool is insufficient, Nami Fund will be used as the backup funding source for the Claim Pool.
Nami Insurance Fund
Nami Insurance Fund is a risk reserve fund for insurance activities, to ensure that all insurance payments always have financial resources. Some features of Nami Insurance Fund:
- The input is the transfer from the Margin Pool after reimbursement and the Claim Pool after the insurance payment is completed.
- Always guaranteed at 20% of Margin Pool value through financial support and financial transfer to Nami Foundation Fund.
- As a financial reserve fund for the Claim Pool.
Nami Foundation Fund
The Nami Foundation Fund was created as a risk reserve to cover potential losses, damages, and problems as well as to support the financial operation of the ecosystem's products. The characteristics of the fund include:
- The input source is deducted from the profits of the products of the Nami Foundation ecosystem.
- The output is for the purpose of financial support for the reserve funds of each product of the Nami Foundation ecosystem.
Nami Insurance ensures the transparency of the project by publicly publishing and real-time updating all key indicators of the project via its official website
- Pool-by-pool explorer:
+ Insurance Smartcontract: 0x5e0F5dBB9BB70B88ef0b87e6BB41CB82FDd380B7
+ Margin Pool: 0x656F356B184BbEfccA0e1A2cacF1656f3c335f2D
+ Claim Pool: 0xc5F6EcaDb23545500300Ed265602736B8C0908e5
+ Nami Insurance Fund: 0xfc6E8226eA4aBB161a350215DC3EF375487cae50
- Data statistics of each Pool: Margin Pool, Claim Pool, Nami Insurance Fund and Nami Foundation Fund
- Total value according to the current On-chain data of each Pool
- Blockchain Explorer for each insurance contract