Trench - Trustless Automated Insurance

Project Name: Trench Insurance
Project Track: DeFi
Team Name: Team Trench
Team Member(s): 2 @singleton & @stefanliemawan
DevPost URL: Coming soon
Project Goal: The goal is to provide unbanked people access to trustless insurance
Project Info: Coming soon
Project Website: Coming soon
Project Test Instructions: Coming soon
Project Details: Trench aims to make it possible for the unbanked to be insured. The team makes use of various datasheets to train algorithmic ML model to automatically calculate premium and disbursement value without requiring a trust from third party.

In this hackathon, we aim to provide a prototype insurance that will provide a protection against any risk of losses suffered by the insured(user) caused by inflation volatility.

Project Milestones:

  • Project conceptualization - 19th October 2022 :white_check_mark:
  • Data gathering and processing for ML model - 26th October 2022
  • Smart contract development & integration with ML - 31th October
  • Frontend development & integration - TBD
  • Final tests & Demo - TBD

one of the best defi project I’ve ever seen in this site

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Thank you for the kind words @Akainuu we hope to exceed expectations

Meanwhile, we just added an Image from the conceptualization process. Expect more images of the progress coming in the weekend :smiley:

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if this project would be bread, I just want to eat it

nice concept, waiting for website :))

Greetings singleton! Your project seems to be missing details on the following. Please add them to your project. Thank you!

Please Include:
Devpost URL
Project Info
Project Website
Project Test Instructions
Contract Address

Insurance is always good, but i know insurances also comes with weekly or monthly subscription fees. Will those who will engage in your platform require to pay any fees.

Also how sustainable will this project be in we run into a serious bear market as we are in now, wouldnt the contract be drained of it funds as everyone subscribed to the system be losing fnda on a continuous daily basis.

Thank you.

Too many info missing. Was this project abandoned?

This is a good initiative, if completed till end.

Calculating premiums is a complicated process and requires a good knowledge of underwriting and acturial science. I would like to know more about the logic used for the algorithms in the project.