Is Etherisc a decentralized insurance company?
No, Etherisc is a protocol to collectively build insurance products. Common infrastructure, product templates and insurance license-as-a-service make a platform that allows anyone to create their own insurance products.
What is Etherisc DIP?
DIP stands for the Decentralized Insurance Protocol and also for Decentralized Insurance Platform. The Protocol provides a permission-less, generic mechanism by which risk of any kind can be priced, serviced, and transferred by a group of independent service providers without having to rely on centralized parties.
What is The Decentralized Insurance Foundation?
The Decentralized Insurance Foundation (DI Foundation) is a non-profit foundation organized under the laws of Switzerland, Canton of Zug. Its mandate is to ensure open access to the protocol and platform, provide long-term governance, community, and ecosystem, and be a custodian of funds raised. The DI Foundation is conducting the Token Generating Event. Under US law the DI Foundation is the issuer of the DIP tokens.
What is DIP Token?
DIP Tokens act as the native internal currency that is inseparable from the protocol and network of its users. DIP tokens are needed to earn transaction fees (% of insurance premiums or fixed cost), incentivize and reward platform users to bring risk to the network, build and maintain risk transfer products. The total supply of Etherisc Tokens is 1 Billion.
Why does Etherisc need its own token? What is the utility of DIP token?
DIP tokens give users access to the Decentralized Insurance Platform. By staking DIP token, participants provide collateral (bond) to guarantee future performance, availability, and service levels. Staking also signals quality and reputation. As a result, participants can earn money monetizing their skills, software (for example risk models or UI/UX), risk capital, insurance licenses, claim processing, or regulatory compliance/reporting services.
How can I get involved?
To support the development and promotion of the Decentralized Insurance Protocol, you can contribute to the Etherisc DIP Token Generating Event(TGE). Every contributor needs to register to participate and pass a mandatory KYC and AML check.