Press Release

Open Insurance platform Nsure Network launch exclusive listing on BitMax.io

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Press Release

Open Insurance platform Nsure Network launch exclusive listing on BitMax.io

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BitMax.io (BTMX.com), an industry-leading digital asset trading platform built by Wall Street quant trading veterans, announced the primary listing of Nsure Network (NSURE) under the trading pair of NSURE/USDT on Nov 2nd at 10:00 a.m. EST.

Nsure is an open insurance platform for open finance. Nsure’s “DeFi insurance” borrows the idea of Lloyd’s London, a marketplace to trade insurance risks, where premiums are determined by a dynamic pricing model. Users can supply capital to the network to mint the native token, NSURE. The token serves as a governance tool for the network as well as the instrument used to underwrite policies on the platform, generating premiums paid out in ETH or stablecoins.

In contrast to other projects, Nsure aims to provide a more sophisticated insurance model for the average cryptocurrency user. Nsure’s dynamic pricing model sets prices based on real-time supply and demand, and the platform’s capital model is used to secure the required capital to cover any claims and back system-wide risk at any given moment. A three-phase crowd voting mechanism is used to assess all claims in an open, transparent, and professional manner.

Total value locked (TVL) in DeFi protocols exceeds $4 billion, but to date, only 0.4% of that value is insured. By working with insurance veterans and licensed actuarial analysts, Nsure is dedicated to researching and developing new risk assessment methodologies that can lead to broader industry adoption and capture more usage in the cryptocurrency space.

The Nsure team brings together veterans from the blockchain, insurance, and venture capital industries, with core members from respected companies like Allianz and AON. The mainnet alpha launch is planned for Q4, 2020, including the core features of buying insurance, providing capital, and underwriting policies. The beta mainnet, scheduled for early 2021, will introduce extended functionality such as stablecoin pools with a governance DAO to follow.

About BitMax.io 

Launched in August 2018, BitMax.io is a leading digital asset trading platform with a broad range of financial products and services for both retail and institutional clients, with robust design ranging from innovative volatility products to margin trading, derivatives trading, staking products, and other investment solutions.

For more information and updates, please visit:

Website: https://bitmax.io/
Twitter: https://twitter.com/BitMax_Official
Telegram: https://t.me/BitMaxioEnglishOfficial
Medium: https://medium.com/bitmax-io

About Nsure

Nsure is an open insurance platform for Open Finance. Capital providers can utilize its NSURE token to stake on insurance risks to obtain daily premiums. The platform supports a vote-based Dynamic Pricing Model and Capital Mining to determine the price and to back the risk. In the next two quarters, the team will be launching Mainnet and working in parallel to deploy on other chains (i.e. Polkadot), aiming to become an underwriter to support the supply of capital and the demand for insurance coverage.

For more information and updates, please visit:

Website: https://nsure.network/
Twitter: https://twitter.com/Nsure_network 
Telegram: https://t.me/nsurenet
Medium: https://medium.com/@nsure_network

Updated 08:13 AM UTC+8, 04 Nov 2020
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