Arcnet
Insure. Protect.
视频
描述
Arcnet:
Your Own Short Term Onchain Insurance Buddy!
In recent years, the crypto ecosystem has witnessed significant growth but also devastating rug pulls and failures, leaving investors wary and exposed to financial risks. At the same time, the traditional insurance industry highlights a critical gap in fund management, with LIC (Life Insurance Corporation of India) alone holding over ₹7,000 crore in unclaimed funds. This exposes a massive opportunity for innovation in risk management and liquidity utilization.
My platform introduces a short-term insurance model powered by smart contracts, enabling transparency, automation, and trust. Investors, or what I term as "Liquidity Providers", can deposit funds into structured risk pools (Low, Medium, High), earning rewards through:
- Policy premiums paid by insurance buyers.
- A percentage of unclaimed fund pools, redistributed to reward liquidity contributors over time.
For policyholders, this system provides a secure, decentralized alternative to traditional insurance, offering:
- Competitive premiums.
- Transparent claim processing with Reason verified by GEMINI API
- A sustainable and trust-driven insurance model.
By aligning incentives for liquidity providers and policyholders, Arcnet bridges the gap between decentralized finance (DeFi) and insurance, ensuring benefits for all stakeholders while addressing inefficiencies in the traditional and crypto ecosystems.
本次黑客松进展
I came up with the idea last week and started building it. I have implemented the entirety of the project within the past week and well within the hackathon duration.