ABOUT THE PROJECT
Inchain is a decentralised insurance platform that mitigates risks associated with total or partial losses of crypto assets due to cyber attacks and hacks. We have placed Ethereum smart contracts at the core of the platform so it requires minimal human involvement.
The following mechanisms maintain the financial stability of the platform:
• Inchain transfers risks to investors by issuing insurancelinked bonds. Investors take on the underlying risks and receive coupons as rewards.
• The loans and insurance funds are managed by Inchain DAO investors, who choose investment strategies through voting. Investment returns are spent on bond coupons and then dividends are paid to Inchain DAO investors.
Every crypto exchange or wallet has the potential to be compromised. Insurance is the best way to solve this problem. You will sleep a lot better when your crypto assets are fully covered.
Insurance-linked bonds are the perfect fixed-income instrument for gaining passive returns. They sufficiently diversify any crypto portfolio due to their transparency and simplicity. In addition, they provide extra trading investment opportunities on the secondary market.
One of the most important modules of our platform is insurance fund management. We are keen to involve our community. The most important decisions regarding investments and profit distribution rest in the hands of our Inchain DAO investors.
With Inchain’s convenient and highly intuitive interface, users set desired insurance parameters, and the platform will generate the appropriate smart contracts. The contracts manage the insurance policies and any payments made on claims. Inchain insurance oracles constantly monitor insured events.
Inchain provides three types of analytics:
• Insurance analytics for observing the number of policies issued, their durations, service providers and rankings, as well as overall market snapshots and news.
• Bond analytics for watching the current states of initial and secondary markets, bond yields, rankings, maturity and durations.
• Insurance fund analytics for assessing ROI on different portfolios, asset allocations and news within the insurance industry.
Our decentralised trading exchange provides a variety of investment opportunities for users who want to buy and sell bonds and efficiently manage their fixed-income crypto portfolios.
Everybody invested in the DAO may proactively participate in managing the insurance fund. Instruments for transparent voting ease the process of reaching consensus.
These are our expected milestones from the end of the ICO in November 2016 to Summer 2017
Further developments and activities will be announced as they arise, and the Roadmap will be adjusted accordingly
A key feature of the platform is that the insurance fund is managed in line with the principles of distributed autonomous organizations (DAOs). To manage the insurance fund efficiently and earn healthy returns for Inchain DAO investors — as well as to pay out bond coupons—a certain part of the fund is invested in various assets and ventures in accordance with the strategies of Inchain DAO investors.
Inchain DAO investors are eligible to propose and vote for investment strategies. The return on investments is to be allocated, depending on votes, as follows:
• Dividends paid to investors in the DAO;
• Reinvestments made to the investment fund;
• Additional liquidity reserves placed in cold storages for paying out bond coupons and insurance compensations.
In addition, the DAO investors may propose their own investment strategies and ask the DAO to vote for those. If enough investors support the proposals, the investments will be reallocated accordingly.
Everyone who purchases Inchain value coins during the ICO receives them to his personal account. Straight after the ICO completion, all Inchain value coins will be transferred to investors’ wallets. There are two ways to access the coins: Inchain web wallets or MIST Ethereum wallets. We will post detailed instructions for both options.
At the same time, we will launch the Inchain blockchain explorer and list the tokens for public trading at external cryptocurrency exchanges.We will make our open APIs designed for Inchain token interactions available as well.
The Inchain value coins can be spend on:
• Investments in the DAO;
• Investments in Insurance-linked bonds;
• Insurance policies.
Distribution: 100 million in total, 85 million distributed to users, 15 million for core activities.
• 1 million for preICO and postICO bounties;
• 5 million for strategic partners, consulting and auditing;
• 9 million for the development team;
Initial Rate: No set rate; 85 million will be distributed based on the total amount collected.
Discounts for early investors:
• Day 1-7 20%;
• Day 8-14 10%;
• Day 15-21 5%;
No discounts after Day 21.