8.1 Key Features
Last updated
Last updated
The Insurance-Ready NFT Launchpad provides an innovative solution that combines the flexibility of NFTs with the security of insurance coverage. Here’s how it works:
• NFT as an Insurance Product: Unlike traditional NFTs, Insurance-Ready NFTs come with integrated insurance coverage. Each NFT represents a portion of an insurance pool, and its value is linked to the coverage provided by InsuranceDAO.World.
• New Insurance Model: By minting these insurance-backed NFTs, you’re not just creating NFTs—you’re offering an entirely new class of insurance products, providing real protection for your project and its investors.
Each Insurance-Ready NFT is fully customizable, enabling creators to tailor the coverage based on the specific needs of their project or community. Key customization options include:
• Insurance Amount per NFT: Define how much coverage each individual NFT will provide, expressed in arrUSD.
• Insurance Pool Value: Set the total coverage amount for the NFT collection. For example, you might set a pool value of 10,000 arrUSD, which will be divided among the minted NFTs.
• Coverage Duration: Customize the length of the insurance coverage, expressed in hours (e.g., 30 hours). This ensures flexibility based on the specific requirements of your project.
These NFTs come with verified and specialized coverage types, each tailored to different risks:
• Smart Contract Coverage: Protection against vulnerabilities or exploits in smart contracts, ensuring 100% coverage for losses up to the insured amount.
• Oracle Failure: Coverage for potential losses due to oracle malfunctions or data manipulation, with 100% protection.
• Economic Attack: Protection against economic exploits, such as flash loans or other financial attack vectors targeting the project’s stability.
• Custodial Risk: Safeguards against losses caused by custodial service failures, ensuring 100% protection.
You can fully customize the artwork associated with each NFT. This feature supports various file formats, including PNG, JPG, and GIF, with a maximum size of 10MB. This ensures your NFTs retain their unique visual identity, while also serving as financial instruments offering real-world utility.
