Getting Insured
Last updated
Last updated
Visit , find the Policy book you're interested in that holds enough capacity to cover your policy, choose the duration of your policy, pay the premium, and that's it!
DEIN measures policy durations in epochs, with each epoch representing a period of seven days. All epochs are time-stamped and are defined by specific start and end days in the calendar year. The creation time-stamp of the Policy Book serves as the origin for these epochs.
Users have flexibility in choosing the duration of their Policy. The minimum duration allowed for a policy is 1 epoch, while the maximum period extends to 15 epochs. This enables users to tailor their Policy according to their specific needs.
The actual duration of the Policy is calculated in 1-week intervals (epochs), which start and end on specific days. In practice, a user can purchase a policy with a duration of less than one whole calendar week if the purchase was made in the middle or at the end of the epoch.
Policies bought on funds have a maximum duration of 5 epochs.
The Policy Premium is determined by multiple factors. These include the duration of the Policy, the Policy Size, and the current Utilization Ratio of the Policybook. The premium cost displayed on the app is an estimate, with the actual value being influenced by how the Policy Size impacts the Utilization Ratio.
The minimum yearly Premium is set at 1.8%. This ensures that the Policy remains affordable for users while providing the necessary resources for the DEIN ecosystem.
When a user purchases a Policy, 80% of the premium goes into the Capital Pool. The remaining 20% is redistributed to the Underwriters as additional yield, incentivizing their participation in the insurance ecosystem.
For non-whitelisted Policy Books, the ratios are swapped (20% to the Capital Pool, and 80% to the Underwriters) to offset the lack of DEIN rewards.
The non-Whitlelisted Policy Books are not verified by the DEIN DAO and are not eligible for DEIN token rewards, they only distribute the Premium provided by the Policyholders. Their Premium distribution is 80% to the Underwriters, and 20% to the DEIN treasury.
When purchasing a policy from a Policy Book that covers Non-EVM chains, you have the option to insure against one or more specific Non-EVM chains. During the purchase process, you will be asked to provide a wallet address for each Non-EVM chain you choose to insure. The wallet address provided will be used for the wallet pairing process, essential for verifying your ownership and processing any future claims related to these Non-EVM chains.
This step is crucial as it associates your policy directly with the specific Non-EVM chain wallets, ensuring that the Policy is accurately aligned with your holdings on those chains.
If none of the available offers match your needs, try our personalized insurance feature for tailor-made Policies!
If they are from different pools - yes! However, you can only have 1 active Policy per pool.
The Premium cost for Policies using the Compounded Pool's funds
The Whitelisted Policy Books are verified by the DEIN DAO, they are eligible for DEIN token rewards and tend to have higher APYs. You are safe to assume that they cover reputable projects with correct contract information (such as the insured address, chains, or ). Their Premium distribution is: 20% to the Underwriters, and 80% to the DEIN treasury.