InsureDAO: A peer to pool insurance market protocol on Ethereum.

3 min readSep 8, 2021

This an introduction to InsureDAO, what this great project is all about, its advantages, and the major role this is coming to play in the cryptocurrency insurance sector.

What is InsureDAO?

This is a peer to pool insurance market protocol on Ethereum, that give access to create, purchase, and underwrite insurance policies without KYC. The DAO controls the operation and management of the protocol. InsureDAO allows anyone to buy insurance products regardless of their age, gender, or country with no need for KYC.

How does InsureDAO protect your fund?

There has been tremendous growth in the DeFi Ecosystem over the past few years and the DeFi space is also experiencing higher occurrences of hacking, and bug exploitation.

There are lots of DeFi projects offering juicy APY/APR and these platforms are exposed to hacking or bug exploitation, this exposes you to substantial risks of losing your funds, InsureDAO provides you with the necessary cover incase you incur loss of funds in any of these occurrences.

The key Feature for Insurance buyers are:

→ No KYC

You do not need KYC to use this great platform, InsureDAO is open to anybody. Regardless of your age, gender, or country, InsureDAO allows you to buy insurance products.

→Dynamic Pricing

The price of InsureDAO insurance products are not constant, they are flexible and easy to access. InsureDAO uses an algorithm to measure risks based on the market’s supply and demand so that insurances are available at a fair price anytime.

→Perpetual Token Reward

Underwriters on InsureDAO recieves token rewards. As the insurance premium is set by the supply-demand algorithm, the more this token incentive attracts underwriters, the cheaper you can buy insurance.

InsureDAO Token and Governance:

The Insure token is the native token of InsureDAO which is an integral component of this great platform. Holders of Insure token will be able to participate in governance voting, incident claim assessment, and a portion of the circulating supply will be burnt by the buyback contract, this is similar to stock buyback among corporates, which benefits shareholders by market buying.

InsureDAO recently closes $1M financing round from several top-leading crypto investors, such as NGC Ventures, LD Capital, OSAZ, Exnetwork Capital, Arkstream Capital, CC, Cryp2Gem Ventures, Faculty Capital, Genblock Capital, Hello Capital, and Honey DAO, which will enable them launch a new DeFi insurance protocol on Testnet (InsureDAO mainnet is coming!!!).

InsureDAO Team:

Koshi Shiba, Founder of InsureDAO, comments “I believe insurance is one of the necessary components in DeFi and the entire smart contract ecosystem. InsureDAO should be integrated with a variety of unseen products and grow together”.

Daisuke Iwase, Chairman of InsureDAO, oversees the project and advises on the insurance perspective. He is the founder of Lifenet Insurance company listed on the Tokyo stock market.