Protocol Pillars
Market Place
Hedgefy marketplace enables anybody to create and post their risk transfer coverage based on Hedgefy’s standardized parametric conditions (e.g., the situation on rain(flood), snow, covid, wind(hurricane) in region XYZ).
Charity or aid agencies' coverages are open for premium donations. Higher premiums will increase the chance of protection providers' interest.
Pricing is determined by the interaction of protection providers and buyers in the market through the real-time bidding process.
Are you interested in our protocol? Be our beta tester?
Active beta testers will be given protocol governance NFTs
NFT
- NFT represents ownership of unique coverage
- The protection buyer needs to present when the claim is paid.
- For the claim event, the NFT ownership can be transferred to the protection provider
Giving
- Anyone can contribute to premiums for the coverage created by NGOs or those in need.
- A higher premium will increase the chance of offers from protection providers for those in need.
Decentralization
Smart contracts run all the transactions. There will be no parties playing a custodian role of collateralized crypto assets.
Hedgefy is a DAO-governed protocol. The Hedgefy governance NFT holders will have voting rights.
Trustless Claim Decision Processing
The first level decision is made by the data obtained through an oracle. The claim condition is written on the smart contract when the ticket is closed and cannot be changed.
The jury protocol will consist of aggregators and jurors. Aggregators prepare reports for jury voting.
Jurors are randomly selected.
Blockchain will record all the juror votes.
Risk Types
Wind/Hurricane
You can choose your region and condition. Claim decision is based on the wind data obtained from the public source.
Example
I'm serving communities in the Cap-Haitien region of Haiti. I want to fundraise for emergency savings if this region is hit by a major hurricane (at least category3). The condition will be the windspeed of this area higher than 120miles/h (192km/h) during this hurricane season (June to November in 2022).
Rain/Flood
You can choose your region and condition. Claim decision is based on the precipitation data obtained from the public source.
Example
I'm serving communities in the northern area of Cambodia. I’d like to fundraise for emergency savings if this region has more than 200 millimeters within a day during the rainy season (May to November in 2022).
Covid
You can choose your country and condition. Claim decision is based on the new daily COVID cases obtained from the public source.
Example
I'm serving communities in the Kathmandu area of Nepal. I want to fundraise for emergency savings if the country has a new record of new covid cases over the next six months.
Timeline
2021.09
» Development Starts
» First version of whitepaper out
2022.01
» Prototype Completion
2022.02
» Community building begins
2022.05
» Hedgefy version 1 completion
» Security Audit
2022.06
» Beta-testing begins
Q3
» Hedgefy verion 2 completion
(Jury protocol and capital reserve)
Q4
» Introduction of Cryptomarket-related risk products
» Development of AI model to process text-based claim conditions