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DeFi Raccoons Special: DeFi Insurance ($INFI+ $CVR)

Hey guys, Bobby here once again, and today I’d like to do something different - a DeFi Raccoons Special. I was talking to my good friend The DeFi Naut the other day, and we came to the conclusion that from time to time, there emerges an area in crypto that attracts massive attention as several high profile projects launch to work in it.

One such area became insurance and we’ll try to cover two high-profile projects in today’s article. Both project are building on Polkadot, and the idea is to provide a clear and short overview of the projects, not rank them - in fact, I wouldn’t be surprised to see a collaboration between them. We both agree the field has great potential, so let’s take a dive into our first ever special!

Insured — $INFI

Yet another project building on Polkadot, Insured is going straight for the P2P insurance marketplace in which people can request or provide coverage on a wide variety of crypto-assets. You may note that this is a more focused goal than we’ve seen with Polkastarter, but the niche Insured is targeting might be the most interesting part of the insurance spectrum as far as DeFi is concerned so it managed to peak quite a bit of interest as well.

Their roadmap is a more “recent” one as well, but given the smaller scope of the project, this is to be expected. However, this means that while Polkacover places their P2P platform development launch in Q3, Insured places it in Q1 with the Live version launching in Q2. Again, we have to note that they’ve yet to disclose partnerships with traditional insurance providers that would surely prove a valuable asset moving forward and help utilize adoption, but given the early stages of the project, I think this is something we can expect to see in the future.

When it comes to the token, rumor is Insured will also feature on the Polkastarter IDO platform for their public sale, but let’s keep our feet on the ground and take a look at the facts fist. Insured conducted three closed sales, Angel, Seed and Private, selling 3M at $0.06, 7M at $0.07 and 15M tokens at $0.08 respectively. With 5.15M circulating tokens at launch, taking the last sale price of $0.08 would give the project a market cap of just $412k. However, it remains to be seen if the project decides to hold a public sale to raise more awareness or just list straight out the gates.

You can find details on each of the vesting period in the token metrics, but it would do well to note all of the tokens will unlock in the 90 days following the listing, albeit in different portions. Now, normally, I’d prefer the lower priced sales to unlock over a longer time period, but given that we’re setting ATHs day after day, a quicker unlock might just get bought up in this craze.

To find out more about Insured and $INFI, check out their webpage, Twitter or TG Channel. If you’re after a TL/DR version, you know you need The DeFi Naut and his detailed threads!

Polkacover - $CVR

As you might have guessed from it’s name, our first project today is building on Polkadot and promises to “provide global access to purchase insurance products quickly & easily to its users”.

They’ve divided their project development into phases, with the first phase promising to provide crypto insurance for 40+ coins, apparently backed by an international insurance provider, but at the time of writing, no names have been disclosed. Phase 2 should see the launch of an insurance marketplace that will offer insurance products from across the world. Seeing as there are pretty much no P2P crypto insurance solutions out there, I’m interested in the third phase that promises to deliver it. The final (fourth) phase goes beyond my understanding of insurance mechanic, promising to deliver an “autonomous claims processing platform based on AI and machine learning which acts-as a third-party claims management platform for insurance companies”.

It’s important to note, that, as with every crypto project, a lot, maybe even more so than usual, hinges on the rate of adoption. In this case, adoption is needed from the insurance providers that will have to sort out their respective regulations in order to collaborate with Polkacover. This could see some of the goals on their roadmap shift as some things can’t be rushed. However, they’ve put together a solid team, coming from backgrounds in insurance themselves, just the thing you need to navigate the ins and outs of insurance regulation, while surrounding themselves with experiences crypto advisors for the crypto portion of it.

In terms of token metrics, and yes, of course there is a token, the biggest bit of news is that the speculations turned out to be true and Polkacover will be conducting an IDO on Polkastarter on January 21st. The team just announced the token metrics, so let’s take a look at it:

The private and seed sale seem to have had an average price of $0.035 per $CVR, with lockups ranging between 6 and 12 months. The public round will be held at $0.08 but the tokens will come unlocked.

The initial market cap will be rather small, at little over $568k, which is sure to turn some heads, regardless of their interest in crypto insurance. Given the amount of hype Polkastarter IDOs are attracting these days, getting into the IDO will be a next-to-impossible task, but we’ve already seen that the post-listing tactic tends to work well for getting a bag for the long run.

To find out more about Polkacover and $CVR, check out their webpage, Twitter or TG Channel. If you’re after a TL/DR version, you’re in luck because The DeFi Naut is working on one of his legendary threads as we speak!

Keep in mind, this field is new (even tough is hot) and it remains to be seen how both projects with cope with the specific challenges they’ll have to overcome if they want to succeed. However, I’ll certainly look to get a bag of both if the opportunity arises - you know the drill, if I can’t score it in the IDO, sit and wait for the bots to inflate and deflate on listing.

That’s all we have time for today, folks! Until next time, consider joining our socials underneath to join our DeFi Discussion

🦝 Join DeFi Raccoons Telegram Channel and

🦝 Drop a follow on my Twitter and

🦝 Follow up The DeFi Naut

Now for a disclaimer — I’m not a financial advisor, anything you read on my Medium isn’t financial advice, it’s a log of myself doing due diligence on projects, please verify any and all information presented (error reporting welcome) and make your own decisions.

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Bobby BLocker

Bobby BLocker

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Blockchain technology enthusiast, Senior Editor and Marketing Manager for t.me/DeFiRaccoons