DegenInsure $DGNS - Comprehensive insurance for crypto degenerates.
This is a concept that is badly needed in the space and if implemented properly can help save people lots of money. However, I personally think there is way more risk in the space than insurance can afford to mitigate. Setting my primary concern aside for a moment, here is what I like about this project.
🔷 They primarily cover Hard & Slow Rugs, but also select DEX and LP exploits.
🔷 Good scheme for locking up tokens to get different level plans.
Lock a min of 5K $DGNS you have “Basic” plan and get 50%|60% reimbursement on Hard|Slow Rugs.
Lock a max of 80K $DGNS you have “Ultra Degen” plan and get 90%|95% reimbursement on Hard|Slow Rugs.
🔷 The insurance pool comes from 1% trading tax, and from bi-weekly premiums paid by policyholders.
🔷 There is a team of analyst that decided if a policy will be given out and if a payout will be made in the event of an incident.
🔷 If you look at the criteria (posted in the comments) for what you can insure, it is more or less a check list for staying out of Degen Token Traps.
Solid 4 Star idea I hope can gain some traction, and I ❤️ the tag line “You are better off with Insurance anyway.” Show Less
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