INS3 v1.5 Griffin+ User Manual

I. Project Introduction

INS3, as the world’s first completely decentralized insurance. Users and oracle nodes jointly decide the market, assets and the deposit/withdrawal condition of centralized exchanges through the independently built claim oracle. Thereby abandoned the process of voting on governance tokens to determine whether to reimburse or not, and minimized the governance of the system.

INS3 --- an original insurance project, with an innovation model of "DeFi + NFT + oracle + cross-chain". The time of XVS and pancake has ended, but the story of AAVE and Uni is continuing. DeFi insurance is rising. Believe us, the next chapter of DeFi insurance starts with INS3. Come start a miracle with us!

II. Token Distribution

III. Notice

3.1.INS3 insurance APY= ITF profit + expected premium profit. You can get the expected premium profit at once after claim settlement

3.2.BSC ITF Contract Address : 0xb5e5Fa306cDCe27d6A574E20047Ed010ba6603e5

3.3.Profit differentiation for staking: For the same currency, customers choose 1 staking product or multiple staking products (up to 10), ITF rewards will be different, the ITF profit differentiation could be up to 4 times.However, the chance of hedging for staking multiple products will be higher as well.

3.4.The expected insurance premium profit is calculated based on multiple staking products when taking multiple products, however, only one staking fund is required.

3.5.Staking= selling insurance; cover = buying insurance Cover: if you withdraw the insurance earlier than agreement, 30% of the insurance premium will be deducted. The insurance premium after withdrawal will be refunded at 70%*min (current premium, average premium)

3.6.Staking: After the staking project is due, staking can be withdrawn with zero loss.

3.7.Withdraw staking less than 7 days, 5% of the principal will be deducted.

3.8.ITF rewards only apply to Staking, not to Cover

3.9.Staking process: create staking NFT -> pledge NFT to get itoken -> pledge itoken to get ITF. You need itoken to get your ITF back.

IV. Compensation rules

4.1.The lending and vault uses the Physical Delivery model of Put options. (For example, all deposits in Venus have vtoken. During compensation, you need to pledge vtoken and the insurance policy into the ClaimPool to get the staking funds pledged by the insurer.) 4.2 SWAP projects are measured by the asset-liability ratio formed by the issuance of LP tokens and the assets held by the LP contract. 4.3 Centralized Exchanges use Oracle to determine whether the market, assets, and withdrawals are functioning normally.

V. Withdraw staking rules

5.1.If staking amount > already sold insured amount, users can choose to withdraw

5.2.If staking amount = already sold insured amount, users can choose to use NFT transfer mode

5.3.If staking amount = insured amount, users can cancel the existing insured amount to make staking amount > already sold insured amount (see rule 5.1.);Then users can withdraw.