1. Introduction
This site and service are in Beta testing. The service is a permisionless Crypto Insurance System, that offer a way to protect users in the wild crypto ecosystem. We started this project with good faith and good intention, after seeing many people fall victims to crypto rug pulls and scam exits. A crypto project can decide to show good faith by putting a certain amount of ETH as an insurance, that is done in a permissionless way, without getting our consent, by simply sending the amount to our wallet. And in case users are scammed, we step in to distribute this amount to the claims.
2. VASP
Governments, are trying to regulate the crypto space, with regulation targeting the VASPs (virtual assets service providers), essentially exchanges, wallets, ICO platforms, market makers etc ... Our service is not a service to the virtual assets, but a protection for the users. We want to protect those that would never be protected by any law or regulation, because no law or regulation can contain the blockchains, thus the risk will remain, and we want to reduce this risk for the average joe.
3. Jurisdiction
Given that governments are bureaucracies, and once regulations pass they start forcing them without any logic or deep analysis. And in order to avoid being targeted with the VASPs regulations, we would like to inform you, that this service is operated from an asian country where such regulations do not exist.
We reserve the right to modify this page without doing any official announcement.