I like the idea, but how do you face legalisation issue? since it is insurance and even though it is decentralised, it must comply with legal regulations. Can you tell us whatâs your plan?
I have work with this and it wasnât easy task and you are required to have a real insurance backing on you if you want to really deploy it
Hi @dellwatson! Thanks for the reply.
And apologies for the late reply from our end.
This is something we have been researching recently
Especially with things like pools of policies running out we would not be able to satisfy claims from people.
This leads to a unique problem where we either do not compensate those claims but that leads to loss in trust in Surity whereas on the other hand we can have some sort of self satisfying condition where if a policy runs out of cash for a marketer we can penalize that marketer in one way or another by stopping purchase of all other policies and mathematically using the surplus from other policies into satisfying this one in which the pool ran out, but this is something quite complex and something we have to research further. As, in real life, as mentioned by you, legal checks exist around things like bankruptcy etc.
I think a simple âlet the market handle itselfâ philosophy might work, because we can have it so that people donât take policies from risky marketers anyways.
This would mitigate the issue of having any legal / self fulfilling contracts in the mix and also ease the process of creation of a self sustainable market.
Hi everyone, we have been thinking of renaming âSurityâ to âJustInsureâ
Let us know what you guys think about this.
We will be making this change, if we will make this change, after the hackathon period ends as we are not aware of the rules regarding this and would not want to be disqualified for editing the project. After the judging period, we may proceed with the rename.
Please let us know what you guys, the community, thinks about this as this would influence our decision heavily.
Weâre also developing a project on Tron, by the way. Let me tell you a bit about us.
Strongcoin is a tap-to-earn game. In our game, thereâs onboarding to the Tron ecosystem, where we publish partner quests. If youâre interested, we can arrange a collaboration.
Currently, weâre running a contest for the best question/suggestion with cool prizes! Come to our topic and read more
First and foremost, we just liked the ring of the new name honestly.
More importantly, we notices most projects on tron ecosystem being named this way.
JustLend, JustStable etc.
But again, we will only go forth with the renaming after proper consideration and communication with the community
Okay but if you are considering change of name, you will have to wait after the hackathon to avoid altering your submission which will lead to disqualification
Hi Community, We have added testing instruction for becoming a marketer and creating new policies on surity, Be sure to test it out.
Also for creating policies you will need FUSD tokens which we made for testing, The faucet for this is currently work in progress, You can share your addresses with us getting those tokens as of now.
Hi Everyone, We have added the Faucet link, and testing instructions for becoming a marketer and creating new policies on Surity. Let us know for any feedbacks
Hi Everyone, Greetings from Surity team.
We would like to know if you guys like the concept for this project. As we were discussing if we should continue this project for Season 7 or make a fresh start.
Since many of you were with us from the very start, your feedback would be valuable on this. Thanks