INSUREBNB MUTUAL

LITEPAPER

Introduction

The information contained in this litepaper is not intended to be exhaustive and the

statements included in this litepaper are not intended to be relied upon or create or form

part of a contractual relationship (unless the context otherwise requires). 

What if we told you there is a solution, Leverage on the Defi blockchain and our smart contracts for our payout and through a faster speed up to 100x, simpler, cheaper way? Better yet. You will get your claim automatically claimed through our specialized AI bot trained to deal with your claims. Our AI bot will be dealing with your claims 24 hours, 7 days, 365 days a year. No more slow claiming process that you can only claim during the ‘working days’. Our AI bot will be learning as much as the community grows as it sees more and more of such claims each day as it goes through it’s machine learning process and it will execute the smart contract as it sees fits.

Unlike traditional insurance. InsureBNB is a BEP-20 token usable on the Binance Smart Chain. As more people come on board. The project will become more and more stable and our early adopters Our users will be rewarded with more of the tokens which can be used to purchase the insurances or cash out as the value increases and matures.

So What Do We Cover?.

Buying the cover

Choose the type of cover you want and get a quote.

Enter the amount you want to cover and for how long.

Quote details

This product covers any token or combination of tokens you have in the

protocol. In case of a claim, you'll receive the equivalent of your loss

in up to the covered amount.

Our Coverage includes:

Damage

Building contents

Income

Pointers

“

"Why do we have to deal with confusion about short-term rental insurance?

Home owner’s Policy? Landlord’s Policy? Commercial policy?

Never again. Well, I have a good news for you. All you need is INSURE BNB!"

Fred Yalmeh- Founder of InsureBNB

”

So What Do You Need To Do To Get The Cover?.

Being a member gives you the ability to swap IBNB tokens, buy cover, and earn rewards from staking, governance and claim

assessment. All funds raised from token purchases belong to members.

Membership Fee

Agreement

Legal Entity

Membership costs 0.0020 ETH (~$3.81)

KYC / AML

So Why Do We Do It?. 

We do it because the Airbnb market is huge and untapped and there is a huge opportunity. We enable people to be able to insure themselves when they rent out a place for a short to long term stay and yet at the same time risk-sharing through the community.

So How Do We Do It?.  

We tokenize the whole process. Resulting in greater speed and zero discrepancies.  

Tokens for the insurance and secure storing of personal information:

External Oracles through chainlink can ensure that creating the most competitive pricing is data-driven by bridging the gap between the real world and blockchain

NFT is used to store your personal data and shall only be extracted in the event that you require a claim.

You are the Jury! Our online on-chain community will be your judge to determine the premium payment decisions governing expense ratio as compares an expenses incurred when underwriting a policy to the revenues it expects to receive from it

You will be the claims assessor, Your jury power is determined by the number of tokens that you have.

How it works

 

Earn rewards by becoming an InsureBNB Claims Assessor.

To earn rewards as a claims assessor you need to stake an amount of IBNB for 14 days minimum. Your verdict power and rewards are proportional to your stake and for the specified period, you can't sell these tokens or use them for other purposes. If the Advisory Board deems voting to be fraudulent, they have the power to burn this amount. 

You will have to stake IBNB to be our claims assessor, 70% of votes will determine the decision. If you end up being on the 30% minority, you will have to extend your staking time from 14 days to 21 days. IBNB will be airdropped to you if you made a correct decision along with your initial amount of IBNB staked.

Quorum -> 250,000 tokens

Reaching Quorum is need to make a community-based vote. If Quorum is not reached our team of claims specialists will be activated to approve or reject the claim.

IBNB Token

Purchase insurance built on the Defi - insurance protocol

All IBNB holders hold voting commissions proportional to the number of tokens in your wallet.

50000 IBNB tokens for earning on staking IBNB/BNB as Liquidity Providers,

Holders get 70 % commission from smart contract

3rd party insurances are encouraged to list their products as well.

POS: 1,000,000 IBNB

Liquidity: 500 ETH

Audit: Self + InsureBNB

Documentation: AI bot

Tokenomics

Name: InsureBNB(token)

Symbol: IBNB

Decimal: 8

Blockchain: BSC (BEP-20)

Nature: Utility Token

Utility: Access to Defi Insurance

   Jury Participation

   Liquidity Prividers

   Staking

Total: 3,000,000,000 IBNB

Team: 400,000,000 IBNB (frozen for 12 months)

Investors: 1,000,000,000 IBNB

Product Dev: 400,000,000 IBNB

Contingency: 400,000,000 IBNB

Marketing: 400,000,000 IBNB

Public: 400,000,000 IBNB

Name: InsureBNB(NFT)

Symbol: ABNB

Decimal: 0

Blockchain: BSC (BEP-721)

Nature: Utility Token

Utility: Claims Extraction

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