Unslashed Finance Coin Price & Market Data
Unslashed Finance price today is $0.567342 with a 24-hour trading volume of $50,667. USF price is down -4.7% in the last 24 hours. It has a circulating supply of 7.7 Million USF coins and a total supply of 86 Million. If you are looking to buy or sell Unslashed Finance, Hoo.com is currently the most active exchange.
What is USF?
USF is the governance token for the Unslashed Finance protocol.
How to obtain USF?
Users can purchase USF from exchanges such as Uniswap.
What is Unslashed Finance?
Unslashed Finance is a decentralized insurance protocol. Rather than focusing on retail users, Unslashed Finance focuses on getting more protocol clients. It has managed to secure clients such as Lido DAO and Enzyme Finance.
As of March 2021, Unslashed Finance is still in private beta mode. The team is conducting yield farming programs to encourage early users to provide capital and buy covers.
What are the insurance products offered by Unslashed Finance?
Unslashed Finance offers a variety of insurance products, with six main categories:
Custodian: A custodian is an entity that safeguards or holds a user’s funds. The coverage protects users against hacking of the funds held by the custodian. The risk is lower as these custodians generally have high levels of security.
When the custodians have their insurance policies, Unslashed would only compensate the losses over the Custodian’s insurance policy.
Wallet: A wallet is anything that stores a user’s funds without the use of a custodian. It can be a hardware wallet or a software wallet. Unslashed covers large-scale exploits in the product’s firmware or software.
Phishing attacks or individual hacks are not part of the scope of this policy.
Exchange: Centralized exchanges that hold customers’ funds. Similar to the custodian policy, Unslashed only covers losses over the Exchange’s insurance policy.
Decentralized applications (Dapps): Mainly referring to DeFi protocols. Unslashed covers the smart contract hacks.
Validator: Validators exist to verify incoming on-chain transactions and secure PoS (proof of stake) blockchains. On PoS blockchains, the assets staked can be slashed if the validator misbehaves. Unslashed covers the cost of getting a slashing penalty.
Oracle: Oracles are essential to many DeFi platforms. They provide a price point in which many contracts call upon to retrieve price data in real-time. Unslashed covers the losses caused by a malfunction in a price oracle.
What is a bucket?
The bucket is essentially a pool of capital used to provide coverage for the insurance products in Unslashed Finance. There are multiple buckets, each catered for different risk profiles.
The first bucket launched is named spartan bucket. It contains seven types of policies but will eventually increase until 24, at which time the yield of capital provider is expected to be between 15% and 20%. Spartan Bucket has a maximum default exposure of 5% per policy.
How is the premium calculated?
Details are scarce, but the team mentioned it is based on utilization ratio and available capital.