The entire system is run via a completed procedure with insurance pools namely Margin Pool and Claim Pool, corresponding by publicly created Smartcontract. Each Pool plays a crucial role in the continuous cycle.
In the “Proof of Concept,” Nami Insurance has integrated multi-chain on the top 5 popular decentralized cryptocurrency wallets, turning user risks into profits by applying an insurance mechanism to two main tradings: Spot and Futures, which have more than 100 continually updated listed assets.
How does Nami Insurance protect its users?
Nami Insurance does not control assets (Non-Custodial) and always aims to protect the value of the users’ assets. The system will automatically lock the corresponding margin and insurance claim assets in the “Smart Contract” for each executed contract. At the expiration of the contract’s terms, users are guaranteed to receive all of the assets as the data recorded in the smart contract.
In order to further assure that the Pools are always capable of paying for legitimate contracts, Nami Foundation has provided the financial funds for Nami Insurance and related ecosystem products. Nami Insurance Fund and Nami Foundation Fund are the identities of this fund.
Nami Insurance – Change Risk to Payback
Nami Insurance is a decentralized hedging protocol that applies Blockchain technology to provide a reliable and transparent decentralized insurance service, minimizing the risk of user’s loss of property value when the market has strong price fluctuations.
Nami Foundation is a pioneer in the cryptocurrency & blockchain industry in Vietnam, focusing on empowering, and building financial services on Blockchain. Our mission is to nurture, build, and empower blockchain financial services with the operating philosophy of fairness & equality, aiming at not only a community for the investors, but also the establishment of their financial independence.