Rank #1297
5,387 people like this
nsure network  (NSURE)

Nsure Network (NSURE)

$0.274268 -2.7%
0.00000577 BTC -1.4%
0.00007739 ETH -1.8%
5,387 people like this
$0.271478
24H Range
$0.285774
Market Cap $6,164,760
24 Hour Trading Vol $1,180,313
Fully Diluted Valuation $27,386,725
Total Value Locked (TVL) $5,548,433
Fully Diluted Valuation / TVL Ratio 4.94
Market Cap / TVL Ratio 1.11
Circulating Supply 22,510,028
Total Supply 47,968,106
Max Supply 100,000,000
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NSURE
USD
USD
Nsure Network (NSURE) Price Chart

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1h
24h
7d
14d
30d
1y
0.4%
-2.7%
-0.8%
-12.3%
-10.0%

NSURE Price and Market Stats

NSURE Price $0.274268
Market Cap $6,164,760
Market Cap Dominance 0.00%
Trading Volume $1,180,313
Volume / Market Cap 0.1912
24h Low / 24h High $0.271478 / $0.285774
7d Low / 7d High $0.245187 / $0.324826
Market Cap Rank #1297
All-Time High $3.42 -92.0%
Oct 30, 2020 (11 months)
All-Time Low $0.195940 39.8%
Jul 20, 2021 (about 2 months)

Nsure Network Coin Price & Market Data

Nsure Network price today is $0.274268 with a 24-hour trading volume of $1,180,313. NSURE price is down -2.7% in the last 24 hours. It has a circulating supply of 23 Million NSURE coins and a total supply of 48 Million. If you are looking to buy or sell Nsure Network, Gate.io is currently the most active exchange.

 

What is Nsure?

NSURE is the governance token for the Nsure Network. Unlike Nexus Mutual that follows a mutual model, Nsure follows a shareholders model where the Nsure token is akin to holding the share of the network.

 

What is the Nsure Network?

nsure insurance crypto ethereum

Nsure Network is a decentralised insurance project that borrows the idea of Lloyd’s of London, a market place to trade insurance risks, where premiums are determined by a Dynamic Pricing Model. In this model, capital supply and demand from the entire platform determines the price jointly, similar to the pricing mechanism in the free market, by having Nsure tokens backing the policies bought. The price is self-adjustable to the movement of supply and demand, subject to the model moderately stabilizing the price change.

 

What is the Dynamic Pricing Model?

The premium is largely based on 3 factors - Capital Demand, Capital Supply, and Risk Adjustment. 

  1. Capital Demand - It is calculated by multiplying the Total Value Locked (TVL) figures of the protocol with demand ratio. Demand Ratio is basically the assumption of insurance demand based on TVL, currently it will be based on a simulation model of the team. 

  2. Capital supply - Amount of Nsure tokens staked on the protocol. 

  3. Risk Adjustment - It is a risk rating that reflects the riskiness of the protocol, currently this is given by the team.

Ultimately, the premium rate is calculated by finding 95% confidence level in a Beta Distribution using the variables mentioned above.

 

Underwriting Programme

Stakers can stake up to 4 times their Nsure token, limited to a total of 10 projects, subject to the assumption that not more than 25% of token balance (100% of 400% total staking power) is allocated to each project. 

For example, Jeff has 100,000 tokens, the maximum staking power he has is 400,000. He could stake up to 100,000 on Compound and 50,000 each on other 6 projects. As a comparison, Nexus Mutual allows up to 10x leverage.

Each Staking epoch is 14 days, including 11 days’ Lock Period and 3 days’ Rebalance Period. Participants are free to rebalance their portfolio based on their strategy and new information (such as Total Sum Insured) or withdraw tokens during the Rebalance Period. Staked tokens are not withdrawable nor transferable during the Lock Period.

Nsure staking epoch insurance

 

How are the collected premiums allocated?

50% of the premium will be shared with Nsure stakers that stake on the protocol as a part of the underwriting programme. 

40% of the premium collected will be accumulated in the surplus pool. When there is a valid claim, 50% of the payout will come from the staked Nsure tokens. The remainder 50% of the claim will come from the surplus pool. If the amount in the surplus pool is insufficient, then the remaining claim amount will be taken from the capital pool. 

Capital pool is calculated as the adequate Minimum Capital Required (MCR) required for paying out claims 95% of the time. To bootstrap the capital, there will be a capital mining programme to reward Nsure tokens to stakers that pledge their ETH, BTC and USD stablecoins. Withdrawal will be halted if the capital available is lesser than the calculated MCR. 

10% of the premium will go to a claim reserve for the necessary expenses required to carry out verifications of claims. If the policy expires without any claims, it will flow into the surplus pool as well. 

Nsure premium insurance decentralised

 

How can I purchase cover on Nsure Network?

The protocol is still in alpha as of January 2021.

Nsure Network News & Guides

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