7.2 Integration Flow
Last updated
Last updated
The integration flow for connecting your DApp to InsuranceDAO.World is streamlined, ensuring that you can provide automated and customized insurance coverage with minimal effort. Below is a step-by-step guide for onboarding your DApp and securing coverage through Verified Insurance Nodes.
To begin, you must select a Verified Insurance Node that best matches your DApp’s asset category. These nodes are pre-configured to address specific risk types (e.g., DeFi exploits, stablecoin depegs, NFT liquidity crashes).
Key Actions:
• Choose the appropriate insurance coverage for your DApp based on the type of risk exposure (DeFi, NFT, RWA).
• Each node is optimized for particular risks and includes a set of predefined coverage terms.
Once the insurance node is selected, configure the coverage settings for your DApp:
• Token Reference Price: The total value of the assets you wish to insure, represented in arrUSD.
• Coverage Amount: The sum of assets to be insured, calculated in arrUSD.
• Self-Insurance: Decide how much of the risk you would like to self-insure. For example, if you have a $10,000 value at risk, you could choose to self-insure $2,000, meaning you would only need external coverage for $8,000, which could reduce premium costs.
• Coverage Duration: Specify the duration of the coverage in hours, ranging from a few hours to several days, depending on the project needs.
Premium Rate:
• The base premium rate will depend on factors like the coverage type, risk exposure, and duration.
• The premium rate is calculated annually, and adjusted dynamically based on market conditions, asset values, and volatility.
The Risk Oracle continuously refines the risk assessment based on both on-chain and off-chain data. By leveraging real-time analytics, the Risk Oracle provides an objective, data-driven risk assessment, which enhances the accuracy of premium calculations and claims validation.
• Objective Risk Assessment: Enter the contract address for your asset to get a real-time risk assessment, allowing you to adjust coverage and premiums accordingly.
Once all parameters are configured, you can launch your insurance coverage and connect your DApp to the Verified Insurance Node. The platform will automatically assign coverage to your DApp, providing transparent, automated protection from external risks.
• Immediate Coverage: Once launched, your DApp will be covered for the selected risk scenarios, and InsuranceDAO.World will manage the coverage and claims process.
In this chapter, we’ve outlined the step-by-step process for integrating your DApp with InsuranceDAO.World. By leveraging Verified Insurance Nodes, developers can:
• Select and configure insurance tailored to their project’s needs.
• Utilize AI-powered risk assessments to ensure accurate premium calculations.
• Automate the coverage process for seamless integration with your platform.
The AI-driven algorithms, risk oracles, and real-time token valuation capabilities of InsuranceDAO.World ensure that your DApp receives optimal protection while providing users with a transparent, efficient, and secure insurance experience.
In the next chapter, we will explore the Insurance-Ready NFT Launchpad, where you can mint, sell, and manage your insurance coverage through NFTs, allowing for a highly customizable and tradable form of insurance coverage.
