Nsure Labs develops open-source tools and services for the decentralized finance (DeFi) ecosystem. Their offerings aim to improve the functionality and accessibility of DeFi platforms for developers and users.
Funding
$2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The decentralized finance (DeFi) ecosystem faces risks related to smart contract vulnerabilities, protocol failures, and other unforeseen events, leading to potential financial losses for users. Traditional insurance models are often inefficient and lack transparency, making it difficult for DeFi participants to adequately protect their assets.
Solution
Nsure.Network provides an open insurance platform for DeFi, enabling users to hedge against risks associated with various DeFi protocols and smart contracts. The platform operates as a decentralized insurance marketplace where users can purchase coverage for their DeFi assets or provide capital to back insurance risks in exchange for rewards. Premiums are determined by a dynamic pricing model based on the real-time supply of capital and demand for insurance coverage. Nsure.Network aims to create a more secure and resilient DeFi ecosystem by offering transparent and community-driven insurance solutions.
Target Audience
The primary target audience includes DeFi users seeking insurance coverage for their assets, as well as capital providers looking to earn rewards by underwriting insurance risks.
Features
- Dynamic pricing model that adjusts premiums based on supply and demand
- Capital mining mechanism that rewards users for providing capital to back insurance risks
- Open marketplace for purchasing coverage on various DeFi protocols
- Support for staking NSURE tokens on specific insurance risks to earn daily insurance premiums
- Governance mechanisms for community participation in risk assessment and claims management
- Integration with Chainlink price feeds to ensure accurate pricing and risk assessment
- Cross-chain compatibility, including support for Ethereum and Polygon