The long awaited moment has come hurray !!

Finally, InsureDAO testnet is out on Rinkeby testnet today, 6th August at 4:00 PM (UTC) !! You can now test our protocol without actual money 😊

You can read the testnet tutorial below!
Tutorial: InsureDAO testnet guide

InsureDAO smart contracts are currently being audited by Quantstamp and Solidified. Besides that, we need your help to test the platform through the testnet trial.

We expect to get feedbacks and will incorporate them into our mainnet release. Let us know if you find something unintuitive or difficult when you use InsureDAO!

InsureDAO

For someone who is not familiar with InsureDAO, let us explain the protocol briefly.

InsureDAO is a peer to pool insurance market protocol on Ethereum.
On InsureDAO, anyone can create, purchase, and underwrite any insurance without KYC.

InsureDAO has following distinctive functionalities.

・Insurance pool creation
InsureDAO allows users to create any insurance pool like anyone can create any liquidity pool on Uniswap. Any insurances, including even risky protocol insurance, will be available to buy and sell on InsureDAO.

This functionality is not available on the testnet since we want to guide testnet participants to InsureDAO through the insurance pool we have set up.

・Dynamic pricing
InsureDAO uses an algorithm to measure risks and the pricing of premiums based on the market’s supply and demand. InsureDAO aims to ensure that insurance is always available by dynamically adjusting insurance prices based on market demand and supply.

・Custom Risk Index
Custom risk Index consists of different insurance pools. Liquidity provider can select any index to deposit their funds based on their risk appetite. Furthermore, every index pool leverages its staked liquidity and provide them to their underlying pools, increasing the underwriter’s fee earnings while lowering insurance premiums.