Getting Insured

How can I buy Policy on the DEIN platform?

Visit our app, 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!

Purchasing a Policy

What are the epochs and what's the policy duration?

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.

During the Policy Purchasing process, we display the end date of the current epoch for your convenience.

What is the minimum and maximum duration for a Policy?

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 Compounded Pool's funds have a maximum duration of 5 epochs.

How is the Premium determined?

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.

👓Premium calculations

The Premium cost for Policies using the Compounded Pool's funds might differ.

What is the minimum yearly Premium?

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.

How is the Premium distributed?

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.

Policy Terms

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.

What is the difference between a Whitelisted Policy Book and a non-Whitelisted one?

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 Policy Terms). Their Premium distribution is: 20% to the Underwriters, and 80% to the DEIN treasury.

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.

Non-Whitelisted Policy Books don't necessarily automatically mean they are not safe to use. You should however do additional research and double-check everything before choosing to purchase a Policy against them.

What should I consider when buying a policy for Non-EVM chain Policy?

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.

Non-EVM Policies

Where can I see the available offers?

https://qa-dein.netlify.app/get-insured/browse-offersqa-dein.netlify.app

What if no available offer suits my needs?

If none of the available offers match your needs, try our personalized insurance feature for tailor-made Policies!

Personalized Insurance

Can I purchase multiple Policies?

If they are from different pools - yes! However, you can only have 1 active Policy per pool.

A Coverage Event occurred. How do I make a claim for the Policy that I bought?

Making a Claim