General Characteristics

$DIP (Decentralized Insurance Protocol) is the native token of Etherisc, a pioneering decentralized insurance platform. Etherisc aims to revolutionize the insurance sector by providing transparent, accessible, and affordable insurance coverage. The platform leverages blockchain technology to create a trustless and efficient platform for both insurers and policyholders. Etherisc is built around a technical, blockchain-based framework dubbed GIF (Generic Insurance Framework). This multi-chain, multi-tenant framework features open-source smart contracts and is designed to host parametric insurance products, which cover predefined loss events and deterministic payouts. With this framework, the platform swiftly covers predefined loss from events like flight delays, droughts, heavy rainfall, or damage caused by hurricanes. $DIP is the utility token that gives users access to the Etherisc decentralized insurance protocol.

Roadmap

Etherisc has made some impressive milestones over the years, such as the release of parametric peer-to-peer USDC-depeg protection and the launch of $DIP staking and governance. Here are the project’s priorities for 2024. Growth: Etherisc aims to grow its platform by scaling existing products and introducing new products and partnerships. $DIP tokenomics and utility: Release updated tokenomics and new utilities for $DIP. GIF v3.0: Launch GIF v3.0 with support for NFTs. Ecosystem: To grow its community with a major focus on support and collaborations. Advocacy: Launch advocacy programs for the adoption of blockchain and decentralized technology in insurance.

Functionality and Utility

$DIP plays an integral role in the Etherisc ecosystem. Through staking $DIP, token holder enable the ecosystem and share in its success. Governance - decisions on the direction of the protocol Services - access to services in the ecosystem Risk pools - activating capital to collateralise policies In the future, $DIP staking rewards will come from an upfront fee deducted from all policies sold on the platform.

Market Performance and Dynamics

Launched initially on Ethereum in July 2018, $DIP has bridged to multiple chains, including Gnosis and Base. It has a maximum supply of 1B tokens and a circulating supply of 383.44M. Since its inception, the token has grown into a market cap of $3.57M. It currently has liquidity of $50.69K and a 24-hour trading volume of $347.17. At the time of writing, $DIP trades at $0.009334, representing a 3% surge in the past 24 hours.

Community

Etherisc boasts a solid community of 11.2K followers on X, 3.65K members on Telegram, and 5.96K token holders.

Pros

• Staking function
• Governance model
• It gives access to the Etherisc platform
• Potential for additional utilities

6 Questions to the Etherisc Team

1) What inspired the creation of Etherisc? Insurance sucks. Giant corporations dominate a multi-trillion-dollar industry. Everybody needs it but nobody trusts it.

1. It’s not working customers - when you need help the most, you struggle to get reimbursed as insurance profits rely on not paying out.
2. It’s not working for millions of people - because it’s expensive, and inefficient, those who need it most don’t get insured
3. It’s not working for insurance companies: They have enormous operational costs to manage data and policies
4. It’s not working for investors: customer premiums often offer very attractive returns, but remain inaccessible to most

Back in 2016 we set out to fix this. Etherisc’s mission is to enable fair, transparent, accessible insurance for everyone, with our token holders sharing in the success and future direction of the Etherisc ecosystem. 2) So what is Etherisc, and how do you enable your mission? Etherisc is a growing ecosystem based around our decentralised, open source protocol (Generic Insurance Framework aka GIF) compatible with all Ethereum-like blockchains. It’s a simple and efficient platform for parametric insurance products on the blockchain. We connect those with ideas, resources and / or capital to build, launch and distribute exciting, fair and transparent insurance products across the globe. The ecosystem is powered by the DIP token, with token holders sharing in the success and future direction of the Etherisc ecosystem. We’ve been working with a range of partners including the World Food Programme and Lemonade insurance, and have a range of products and prototypes on our platform including flight delay, train delay, agricultural insurance, carbon credit protection… 3) Can you explain how parametric insurance differs from traditional insurance models? I’ll take you through this with an example, which was actually the first product we built on the platform. Say you’re travelling and your flight is delayed by 3-4h, and you have travel insurance that covers you for “reasonable expenses”. At the airport, you’d incur, say $90 of costs for food, drink etc, then, probably a few days later, submit a claim with receipts to your insurance company. You’ve lost some of the receipts, so you only manage to submit a claim for $70. Somebody in their claims department looks at your claim, you debate a few things back & forth and then several weeks later you’ll hopefully be reimbursed for your troubles! In a parametric situation, your insurance policy uses a pre-defined, measurable event (like a 3h delay to your flight). If the set parameters are met, the pre-agreed payout occurs (say $90), without verification, it’s instant. You’re not out of pocket. Pretty neat right? Another example - in a traditional agricultural insurance policy would require the farmer to submit a claim and have an adjuster assess the damage before the insurer determines the payout based on actual crop loss. However, a parametric policy could trigger a payout when rainfall falls below a certain level over a set period. This helps farmers quickly recover from drought, without the need for field inspections or damage assessments. We’ve had parametric agricultural policies on our platform for many years, with nearly 100k smallholder farmers across Africa protected to date. 4) So how does Etherisc implement this model on the blockchain? We see Etherisc is the future of insurance. Our open-source blockchain platform is a growing ecosystem with benefits for

• customers: who can easily access innovative, cheaper, faster, more transparent insurance, and potential returns for their insurance premiums
• insurance providers: startups, large/small companies or non-profit groups can quickly and easily offer high-quality, innovative parametric peer-to-peer insurance products.
• investors: can benefit from a broad range of risk-based investment bundles (trustless risk pools), tailored to their risk/investment appetite.

5) One of Etherisc's goals is to make insurance more fair and accessible. How does the platform ensure inclusivity, particularly for underserved communities that may not have access to traditional insurance products? The main thing we’re focusing on is parametric climate risk insurance for smallholder farmers, which enables them to cope better with climate shocks like failed harvests. Traditional climate risk insurance already exists, but is expensive, slow (payouts can take weeks after a trigger event/harvest), trust and take-up are low. We believe that Etherisc’s innovative Blockchain technology can help millions of underserved communities heal from the climate crisis's devastating impacts. Our priority is to scale our proven technology through ambitious global partnerships. This will allow us to become the most widely used insurance platform globally, powering coverage for millions of underserved customers. Our climate risk insurance allows vulnerable farmers to use mobile money to purchase their policies and receive insurance payouts. Farmers automatically receive payouts if a pre-defined climate event occurs (e.g. certain amount of rainfall). The climate event is verified through a smart contract with publicly available data (e.g. satellite imagery). Our technology can be coupled with offsetting and decarbonization by incentivising climate-friendly farming practices with carbon credits, which can either be sold on to generate additional revenue or cover the cost of an insurance policy. We’ve already got a set of fantastic partnerships under our belt including with Oxfam, the World Food Programme, Acre Africa and Celo. 6) What are the next steps for Etherisc? Are there any new features or products in the pipeline that you’re particularly excited about? We’ve got some exciting partnerships in the pipeline with some big names, as well as more innovative partnerships in the crypto space. We’re also making it easier to buy $DIP on Base and mainnet. Our core platform upgrade is imminent, which will enable

• lower transaction costs on Base (in addition to Ethereum mainnet)
• Exciting improvements to DIP Staking
• Other features like policies being captured as NFT and support for product distribution

We’re also planning some exciting quests / social media activities, as well as our awesome D1Conf - the leading annual conference on Decentralized Insurance, this year in Bangkok in November aligned to DevCon.

Official links

Ethereum CA: 0xc719d010b63e5bbf2c0551872cd5316ed26acd83 Gnosis CA: 0x48b1b0d077b4919b65b4e4114806dd803901e1d9 Base CA: 0xAc86f3556cBd2b4d800D17ADC3a266B500FCB9F5 Whitepaper Website Twitter Telegram Discord

Where to buy

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