DIP token is
DIP is the protocol token for Etherisc Insurance protocol (and possibly future governance token).
DIP token is used for
- Earn transaction fees (% of insurance premiums or fixed cost).
- Incetivize and reward user for bringing liquidity to the platform and building insurance and risk products.
- Staking and providing bond to guarantee availability and performance of the insurance services.
More about the token here.
How could value accrue to the DIP token?
- Holders lock tokens to earn rewards and support the ecosystem.
- It will not introduce additional fees. Owners of a token do not receive a revenue from the use of the platform – Whitepaper (p.19).
What is Etherisc?
Etherisc is a protocol to collectively build insurance products on the Ethereum blockchain.
How Etherisc works
A user can request to create an insurance product on the Etherisc site.
- Here are some of the current / In-production products from the community.
Etherisc consists of
- Risk pool, which holds a certain amount of reserve collateral used to issue and
- underwrite insurance policies against a predefined set of insurable events, within
- the framework of an insurance model.
- Reinsurance pool, which holds extra collateral and reinsures the risk pool
against catastrophic long-tail events
- A risk management system, which is a set of rules that governs the issuance,
supply, inflation, and deflation of a digital token. we suggest to name the token RSC-FDD.
Tokens are sold to collateralize the reinsurance pool and entitle holders to
dividends from the risk pool’s revenue stream.
- A token marketplace, which allows participants to purchase and redeem tokens
at economically fair and transparently calculated prices.
DIP holders stake tokens to earn part of insurance premiums paid.
When a policy expires without a claim, its premium becomes revenue:
- 10% Risk pool to subsidize premiums.
- 20% Reinsurance pool for long-tail risk collateral
- 70% Holders of RSC-FDD tokens as dividends.
The reinsurance collateral is gathered through an offering of an initial fixed supply of RSC-FDD tokens (a crowdsale).
Staked token holders provide
- Oracle updates
- Organizes new product development
- Oracle registry
- License provider Registry
- Distributor provider registry
Total supply: 1 billion
- 30% – Token sale (2018): up to 300m (unsold tokens went to DI Foundation)
- 10% – Founders
- 10% – Early supporters (original RSC token holders)
- 5% – Team & other early supporters
- 45% – DI Foundation (legal Swiss-governed entity)
Etherisc aims to become increasingly decentralized and give more power to token holders over time.
Price during Token Sale
- 1 DIP =$0,10