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"Insurance" VS "Option"
The “Defi insurance” we are talking about nowadays is not the same thing that insurance represents in the legacy world. The insurance offered by Opyn are actually options matched by peers. The insurance offered by insurance companies are highly regulated and were carefully designed so the insurance company will always have the risk covered at 99.99%.
Guaranteed coverage
”Insurance” based on options can not guarantee the coverage. Any small defects in the product can cause huge risk and result in insufficient liquidity and more over uncovered payment.
Law of large numbers
The way we design “Defi-insurance” is based on the law of large numbers is the core of its guaranteed compensation. The product shares the compensation pool, and the compensation pool shares the product revenue.
One insurance platform for all Defi projects
SURE will provide its products according to different defi product designs, helping these defi protocols to obtain optimized risk compensation while developing their business so as to obtain the robustness of their business.
SureToken
The insurance contract will be issued as SUToken(fungible token) that represents a insurance contract.
SUREPool
SURE has a insurance payment pool - SUREPool the fund to hedge risk will be shared in the pool. Profit pool The profit of SUtoken sold will be injected into the profit pool when the contract expires the liquidity will be released.
SURE DAO
SUREToken is the governance token that represents the voting right of insurance contract issuance; dev fund; profit pool bonus issuance. The Protocol will be governed by this DAO.
Our Solutions
Automatic Actuary Bot
Based on the law of large numbers, data analysis, product design understood by the industry, the data is sorted through Bots and the corresponding product structure data is given. Our Bot uses its analysis of historical data to develop a reinsurance treaty when giving a comprehensive market-based risk transfer solution. The reinsurance treaty and insurance protocol can reduce volatility and increase its return.
Guaranteed payment pool
SURE does not just use options to hedge risks like Opyn such as protecting the return of small-probability events like assets losing value in Compound or smart-contracts where ETH put option is sold at an agreed price at a given time but when the high probability in scenarios where insurance is needed Opyn’s compensation is likely not enough. For example, what happened on March 12th, Opyn's option insurance failed.
More than Defi insurance
SURE provides a complete set of solutions. The application scenarios will also be broader. The traditional aviation insurance is a small probability event of hedging life arrangements. Insurance companies can often sell tens of thousands of contracts. However, if an aircraft crashes, 200 aviation insurances on board will be effective at the same time, and the compensation amount will be very considerable. Therefore, insurance companies often seek reinsurance to reduce their risk of full compensation. The insurance contract on Opyn, in order to prevent 312 similar market recurrence, should choose DISU reinsurance to reduce risk. DISU is designed for such a scene.
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