Become a Cryptocurrency Insurer

Aug 22, 2021 at 09:40 // News
Guest Author

As the number of DEFI protocols and applications is growing, hacks and breaches come with them. Thus insurance’s importance is becoming a crucial concern about investors. But traditional insurances will not get in the crypto world. So what about creating a p2p insurance. Following the decentralized philosophy of the blockchain, we can ensure ourselves without any centralized entity.

With Athena Ins, you can be the insurer, and you can choose two ways:

·        You can easily create your insurance smart contract to get all the subscriber contributions and the stacking reward of the guarantee funds blocked at the creation of the insurance contract without platform taxation.

·        If you don’t want to own your smart contract you can also provide liquidity to a contract to get the same profit than the owners.

On the other side, if you want to be insured, you can subscribe to the smart contract created by the insurers. And here comes the p2p insurance concept.

How it works when a hack occurs

If you are an insurance subscriber and the hack is covered by the contract, you will provide a public detailed request. It will be checked by the community and voted. Validators are responsible for evaluating requests and confirming compensation or not. Each validator must commit funds to vote, the weight of the decision and the level of reward depend on the amount committed. To validate a decision, there must be an amount committed by the validators that is 2.5 times the amount of compensation for the request and a minimum consensus of 65%. If a decision is validated within 72 hours, a bonus is awarded to the validators who voted the same than the majority. If the request is validated, the subscriber will be refunded.


Referral Program

The pre-sale of the ATEN token is coming soon and we decided to reward you if you contribute to the project. Indeed, we have a referral program that makes you win bonus on what you will buy during the pre-sale. The top 10 referrers will be rewarded with 1 million ATEN.

First you need to have an account on the Athena platform. So create one if needed: Then you can go to your profile section and get your referral link.

Once you have refered someone who created an account on the platform, you will win extra bonus during the pre-sale.

·        If you are the referrer, you will receive an additional 15% bonus on the token your referral purchases. For example, if the one you referred buy 10 000 ATEN, you will get 1 500 ATEN extra bonus.

·        If you have been referred by someone, you will receive a 5% bonus on what you buy. This means that if you buy 10 000 ATEN, you will receive 10 500 ATEN.

Aten token

Athena Ins provides an income to all even those who do not take part directly to the insurance system, ATEN token has a reflection of 0.025% to all holders. The Athena Ins team will not take any transaction fees on the platform.

You will be able to earn with your ATEN token through the platform:

·        Limited stacking 24%, 38%, 59% or 119%: staking provides a return on ATEN reserves held by investors. These pools are limited and the return depends on the blocking time. Not blocked, blocked 6 months, 1 year or 2 years.

·        Yield cover 59%, 89% or 159: depends on the length of time the guarantee fund is locked in plus the return on subscription fees paid by coverage subscribers.

The pre-sale starts August 30th, so come buy some ATEN at its lowest price.

Disclaimer. This article is paid and provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. CoinIdol shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods or services mentioned in this article.

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