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I'm trying to imagine absolutely ridiculous amount of money you'd need to pay to insure something like a DeFi product. OTOH, there's a market opportunity to cre
by meepmorp 5y ago
I'm trying to imagine absolutely ridiculous amount of money you'd need to pay to insure something like a DeFi product. OTOH, there's a market opportunity to create DeIns products to handle the demand. Do it right and it's blockchains all the way down.
- redisman 5y agoThe premium would have to be insane for someone not to go bankrupt when they have to cover a 600M theft or even the more common 50M level. There are only a handful of profitable DeFi companies to buy the plan and I’d imagine most have a policy of YOLO when it comes to security
- vmception 5y agoA cursory look at Nexus shows 1 year policies are about 2.5% of the amount needed to cover, I tested a quote up on their calculator up to 20,000 Ether ($62 million at time of writing) I mean, thats what we are talking about here, products that already exist and are live right now and compete with each other. You can enter it though, there is room for differentiation.