Stay calm and use IPFS to become the cool DeFi insurance agent

Third Floor Mutual (3FM) is an insurance agreement that runs on the blockchain and aims to provide a hedging mechanism relative to DeFi products.

Among them, “insurance agent” is a person who earns commission through promoting 3FM. By using the decentralized identity protocol of IPFS and 3Box, the links in 3F Mutual are not just boring alphabets and numbers but can carry personalized information such as avatars and inscriptions, creating a warm and humanized recommendation system.

About 3F Mutual Insurance Agent

There are three roles in 3FM according to the design of 3F Mutual: insurer, underwriter, and insurance agent. Insurers pay insurance premiums in exchange for risk hedging; underwriters provide funds and collect insurance premiums; insurance agents do not contribute to capital but simply receive bonuses through referral.

Comparing among all the recommendation systems on the market, 3F Mutual holds two major improvements in the original model: a long-term incentive mechanism and a personalized referral profile page.

The career of an Insurance agent

Similar to other online referral reward systems, the agent is required to register a set of dedicated referral links. The difference is that while the agent earns referral income, they also have future growth. When the accumulated income reaches a certain threshold, you can “promote” to a higher class and get a higher commission rate. When you reach the highest level, hidden privileged feature will be unlocked for you.

The following table is the conditions and commission rates corresponding to each level:

Personalized referral system

Generally, the referral information is often inconspicuous on the interface and even deliberately downplayed. 3F Mutual allows the promoters to stand at the front desk, setting the image to be displayed, and customize the marketing copy to make the recommendation relationship more personalized. After all, since agents believe in and are willing to recommend such a good product, they should be treated better with a great and user-friendly interface to help them achieve the goal.

As a DeFi product that pursues decentralization, all information about recommenders, including images, is stored in the distributed network of IPFS through the 3Box DID identity protocol.

3FM: Insurance agent from scratch

Register

First, open https://3fmutual.com, connect to the browser wallet or WalletConnect, then select the Profile page, enter a favorite name to register.

The name needs to meet some specifications, such as restrictions that cannot be disguised as Ethereum 0x addresses or cannot be composed of pure numbers. After the decision is made, the application can be sent out.

To avoid being over-registered by a small number of people, each registration needs to pay 0.01 ETH to the system, but the registration of loud and beautiful names is a crucial step for the business!

After the registration transaction is completed, you can see the name representing yourself, as well as an agent’s number, and most importantly, the referral link used to make money.

There are three formats for the referral link, which are the version with the name, number, and wallet address as parameters. They all serve the same purpose, but you can choose between the version you consider is appropriate according to different situations.

Connect to 3Box

Press Connect to 3Box in the screen, it will automatically redirect to the 3box website, and then you will need to sign with the newly registered wallet several times to bind DID and authorize 3F Mutual to link with 3Box. These signatures are all prefixed and will not be signed outside the transaction, don’t be afraid, just press sign and everything will do fine.

Setting avatar

After opening 3Box, enter the editing page and redirect it to the profile panel of 3Box. There are many columns to fill in, but only the picture of the avatar will be referenced by 3F Mutual. The other columns are not interlinked. The name you just registered is on the Ethereum blockchain, and it has nothing to do with the name here.

Click the button in the lower right corner of the avatar, upload the photo file, and save it.

After you are done, go back to the 3F Mutual website to refresh the page, and you can see the photo you just set.

However, because IPFS is not very stable, occasionally it will take a while for the upload/synchronization to complete. If it has not been updated, please wait for a while.

Enter an insurance motto

Click the button below to expand the text box, enter a sentence and press save. This sentence is also stored in IPFS via 3Box, but don’t worry, you can modify it whenever you please.

Starting your promotion

Next, just share the exclusive link with friends, and educate them on the importance of insurance:

“3F Mutual is a very important hedging tool for DeFi, and most importantly, don’t forget to tell them the steps to buy insurance, after you are done, you can sit back and enjoy the profit.”

Finally, don’t forget to come back often to check your referral progress. If you meet the standard, press the upgrade button to upgrade your level and increase your income. I wish you all success in getting started, while helping people around you for risk planning, and also achieve your career, and move towards the top ten agents!