We are pleased to announce our next AMA on January 14th 2021 at 02:00 PM UTC Time: Satoshi Club x Polkainsure
⚠️Click to see the hour
⚠️Total Reward pool: $600
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Polkainsure Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 100 seconds. You can post Max 3 questions. Polkainsure Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Polkainsure
For more details:
Polkainsure – @polkainsure
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
As I understand, PIS token will have all its functionalities when you move to a Polkadot parachain. How about until then? What can we do with your token until its still on the Ethereum blockchain? Providing liquidity?
$ PIS is currently being exchanged on Uniswap’s DEX platform, will we see an integration with other high-volume platforms this year? What do you think about the increase in ETH fees?
With PolkaInsure, anyone can apply for insurance and anyone can provide coverage? How effective and cost-effective are these insurances? What types of assets will apply for this new decentralized protocol that Polkainsure has created for Polkadot users?
Polkainsure will be migrated to a polkadot parachain when the development of the product is finished. The $PIS token is currently issued in ethereum because there is a large commercial demand. When will this migration be ready? What parachain will you use to make your DeFi protocol more efficient? Can you tell us more about this?
With PolkaInsure I can buy Coverage without having to do KYC. What are the security methods that replace the KYC within the platform? How armored will the insured assets be in PolkaInsure? Being associated with Polkadot, what benefits does this provide in terms of security of your DeFi protocols?
Can you tell us how #PolkaInsure token holders benefit in the ecosystem and what power within the governance model individuals have? Why is it so attractive and what are the basic requirements to PARTICIPATE?
#PolkaInsure How do you keep the ecosystem going in your project? and what are your plans for future innovations?
The first post of your project on Twitter is on 28th of December. You are a very new project. Was it the date when you started working or have you worked behind the scenes before that. If yes, on what?
At the moment you only have one partner. Do you plan to work with more partners or do you have a recent request? Could you tell which ones?
His work group is made up of only five people. Don’t you think you need more workers to be able to maintain and carry out this project? How are the jobs distributed?
Do you have some kind of whitepapper where we can see who they are, their work system, their security and token, price, cost and sale?
What could happen if bots or maybe Whales, start using $PIS to try to affect the governance model? How could you prevent and control that issue?
For the first quarter of 2021, you are planning to develop PolkaInsure insurance contracts. This is the only insurance information I have found from you. Can you tell us now in which area you want to deploy insurance? Will it be connected specifically with finances, for example, insurance against intermittent losses or is it aimed at more mundane needs (property, health, life, etc.)? After all, now you can tokenize absolutely everything if you want.
I noticed that KYC won’t be necessary on PolkaInsure. Without this method how is your platform going to be able to stop being misused by bad actors that just want to make criminal actions such as blackmail, money laundrey, or terrorism? What other security and safety features will PolkaInsure have?
Whenever a platform does not require KYC from its users, as is the case with PolkaInsure, doubts always arise about how the project will handle the security and legal aspects of the platform. On the other hand, some people think that the use of KYC represents “a death sentence for cryptocurrencies”, since it goes against the principles of anonymity and transparency of cryptocurrencies. My question is: What is PolkaInsure’s view on this? Why have you decided that your platform should not include KYC? Will you maintain this policy forever?
I saw that you will be deploying PolkaInsure Insurance contract on Moonbase Alphanet really soon. Why did you choose the MoonBeam testnet to do it? And what will come next after the releasing of the contract on January 17?
Currently available farms:
PIS-ETH, PIS-NERDz, PIS-USDT. Do you plan to expand this list and when?
Claims are processed using a smart contract code that provides instant payouts and full coverage of insurance contracts. What interest on payments can you get, what should the user provide you and is there a need to complete KYS?
The speed of transactions is one of the aspects that the different blockchain projects are always trying to improve. It struck me that you comment that in PolkaInsure the payments are instantaneous. What systems do you use to guarantee such a high transaction speed? Are the payments really instantaneous or do you even think you can improve the speed of them?
PolkaInsure is powered by Polkadot, it is an insurance marketplace for Polkadot users, its name is Polka-Insure. Therefore $PIS which is the governance token of PolkaInsure is issued on Ethereum. Isn’t this a serious contradiction, why did you choose Ethereum for the token? And isn’t it a complex issue to handle functions on two different environment?
PIS token is currently issued on Ethereum blockchain but Polkainsure will be migrated to a polkadot parachain when the product development is finished. Why was it first issued on the Ethereum blockchain instead of initially being launched on the Polkadot network and thus avoid the migration process?
In the partners section on the PolkaInsure website you have 3 spots where it says “coming soon”. Do you already have in mind which partners will be or have you not been in contact with other projects yet? Are you currently focused on partnerships or not yet?
Is the team behind PolkaInsure anonymous? I did not find any photos of you on the website. If you are anonymous, what are the reasons? Have you thought about remaining anonymous or is it in your plans to make the team public in the future? Do you consider that being anonymous has its advantages? Which would be? Do you consider that the advantages are greater than the disadvantages?
PolkaInsure is a Peer to Peer Insurance MarketPlace for Polkadot Defi users where the peers are requesters and providers. What can be insured in the system? Are there any min-max limits for insurance requesters and providers? How do you protect coverage providers without KYC requirement?
I took a look at your Insurance app and noted it has a marketplace that offer lendig, exchange, coverage and many other services. Is this marketplace intuitive and personalized per user? How do you make sure to offer the customers exactly what they want?
It says on your website PolkaInsure smart contracts “will be” audited, deployed and verified on the Polkadot blockchain. Haven’t been yet? What are the security preparations of this project?
how will going to solve the problem that may occur using smart contract?because we all know that smart contracts is always prone to bugs,,might be open for some fradulent and sometimes misrepresentation
Currently the only known partner of PolkaInsure is the Arcadia Group, but the website shows that there is 3 spots left, so can you give us a clue About this other 3 partners incoming?
PolkaInsure is the First Insurance Protocol created with the Polkadot technology, but why do you think that Polkadot is a good network to have a Insurance Project?
Polkainsure will be migrated to a polkadot parachain when the product development is finished. PIS token is currently issued on ethereum because there is high trading demand..when will it takes place?what application data structure are you going to use to make it more well orgazined?
what is deflationary farming?how to participate?how does it work?does every users will benefit with it?
How do I earn PIS without minting any new PIS tokens?
Deflationary agriculture basically doesn’t mint / generate any new tokens, so inflation is zero. Where do the rewards to distribute the rewards come from?
Each transaction has transaction fees of 2%. The fees are collected and distributed proportionally to all users who farm in deflationary agriculture. The more movement in uniswap, the more benefits farmers get?
Deflationary agriculture basically doesn’t mint / generate any new tokens, so inflation is zero. When do you reward the PolkaInsure protocol?
PIS is desig ned to be self-sustaining and attracts investors from the safe protocol to be built. Why did PolkaInsure and deflationary Polkadot agriculture decide to migrate?
A high APY sounds attractive to farmers. That is why those agricultural projects attract a lot of cash placed on farms. What are the farms available at launch?
I understand that due to the migration issue the liquidity tokens will remain inactive. How long will the migration process from Ethereum to the Polkadot ecosystem take?
What is the total supply of the Polkainure Token?, Because I understand that its technology is based on not coining more token in agriculture.
Isn’t required a KYC for making transactions in PolkaInsure, if so, how do you keep secured the P2P insurance marketplace? How do you identify your users?
What attractive features do you offer at your Claims Portal? How do you keep it fully collateralized?
I have really known multiple projects that implement sales by P2P, with ETH and EOS blockchain, but really none with DOT, will Polkadot give you the option of not requiring KYC and being reliable? but why do the P2P of other chains require them?
really what is the “great commercial demand” for the PIS tokens? and why can it only be mitigated with the ERC20 network? and not directly with DOT?
You mention on your website that your PolkaInsure smart contracts will be audited and verified? But when will this be? after they switch to the DOT chain or the same with ETH? Why doesn’t it say when it will be on your Road Map?
Will all purchases with P2P with PolkaInsure be made with Fiat? If so, how will the centralized bank accounts associate their platform? or how to verify the operations and release without trust?
Really why use a large blockchain that interconnects multiple chains, only for a P2P market platform where there really is no need to interconnect chains?
Why have you decided to create insurance for DeFi protocols only for Polkadot? Would there be any possibility for Polkainsure to climb up to a multiple Blockchain insurance in the future?
According to my experience, all centralized P2P markets are really free of fees, now, in the decentralized markets, because they don’t have KYC and don’t have confidence, will they need to make fee payments?
How is the process for a user to apply for insurance within Polkainsure? What are the requirements? Pass KYC, buy PIS token? Then I finally buy one?
Currently they only have the Arcadia Group company, but is this the one that will be in charge of auditing the PolkaInsure smart contracts? Or is it simply an audit project that interested you in your project?
After migrating to the Polkadot blockchain, will the PIS tokens be obtained on the same Uniswap? Or will it only be through its forks but only from the DOT network?
really why holder PIS? How will its value increase in the markup if its demand will really be very minimal, since your tokens are not so necessary to operate on your P2P?
You may not be able to withdraw the PIS rewards from the farms, if there are no movements of this token? What measures have you taken to prevent this case?
Where do the rewards for farmers come from?
For the second quarter of 2021 Polkainsure has planned to perform the migration of tokens from Ethereum to Polkadot. Why did you initially create it in Ethereum if your goal was always Polkadot?
How many insurance options will we have to choose from within Polkainsure? Will there be any classification by any criteria?
Honestly this insurance for DeFi protocols is still a bit strange to me. If you are so kind, could you explain how this kind of insurance works in the context of Polkainsure? Please in terms understandable to a 10 year old child please. I’m sure I’m not the only one who would appreciate a little lesson.
Any user can request insurance and anyone can provide coverage without having KYC…..then how can you ensure the security and safery of one users data?and how the users data being identified?
Do you have any upcoming Defi partnerships in the works??
what is deflationary farming?how to participate?how does it work?does every users will benefit with it?
what is Deflationary Farming ?
Which is the tokens used in polkainsure finance?
PolkaInsure Finance partners with the Arcadia Group– a big Blockchain Security Software Development Company..how beneficial and helpful partnering with them?and what about the 3 slots for incoming patnership?can you give us some detail about it?
As a decentralized P2P insurance marketplace of Polkadot ecosystem, how trusted is your insurance services? What are the instances or situations being covered by your platform? As I read in your website that insurance are only covered for Polkadot Defi User, do you wish to expand or accept more clients or users for your insurance services beside Polkadot Defi users? If yes ,aside from Polkadot Defi users who will be your potential target market in the future? Thank you
One of the governance of $PIS token is shield mining. So, can you explain more about what is shield mining? How does it works in Polkainsure network? What is the advantage of Shield mining? What is the pros and cons of this mining program?
Shield mining as seen on the tokenomics/token distribution, How will this shield mining work? How will it impact the project positively? And when will it start?
As a decentralized peer to peer Insurance marketplace for DeFi, We all know Security is of essence. So, I want to ask, how secured is PolkaInsure? And after migrating to the Polkdot Parachain, Will PolkaInsure rely only on the Polkadot Shared security model or Polkainsure will make additional provision for security.
After migrating to Polkadot Parachain, what will happen to the liquidity on Uniswap?
What strategies are employed by the polkainsure team to rectify the bugs commonly associated with smart contracts??
Please, can you briefly elaborate what you mean by full colaterization of insurance contracts??
Can you please explain more about Polkainsure Pool? How many pool did you have, and also I read that you will give reward if we stake in there. Do every pool have different reward ?
You claim Polkainsure farm system will be a ‘Deflationary Farming’ which mean its not ‘mint’ or generate any new token for reward. Then can you please explain where does the reward come from?
How does PolkaInsure handle government regulations and boundaries? And what mechanisms / strategies do you use to keep users motivated and present on your platform? What can the PIS Token guarantee or promise in terms of the security and privacy of its users?
Competition is an honest arena to prove a project is worthy to get the attention of the audience. and in the end let the product speak.
So, To face your competitors, What are you doing to make your project truly Strong and Unique? Can you provide the important points to convince investor
Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is a $PolkaInsure like this? If not can u tell us, What makes $PolkaInsure different from other projects?
i read from your pinned post telegram, Farm with Polkainsure can get reward APY to 2000%.
How is this massive APY possible ? Can you explain how your APY reward system work ?
I read from Polkainsure Twitter, that you have event for Farming Campaign. Can you explain about your farm campaign? And also do you have another event like Airdrop or Bounty for $PIS token?
Can you tell me any details regarding the marketing strategy for the 10% token distribution for marketing.
What kind of insurance do you offer? I can insure my funds against theft from my wallet or for example from bankruptcy due to the liquidation of an order on the exchange?
Now there are 61,666.667 PiS in circulation, and Total Supply is 80,000 PIS. When charging interest of 600% – 860% on tokens in farming, there are much more tokens than Total Supply
You have very high interest rates of 600% – 860% on tokens in farming. At the expense of which you can guarantee the value of the token. In practice, we already know that many projects lose very much in the value of the coin by offering such percentages.
Your White paper explains everything in detail .I liked the concept of Cross-chain swap and Deflationary Farming ..It seems this project will be amazing .As we know that eth fee prices are increasing day by day do u think it will be cost effective for users if u use two contracts at same time ? What will encourage users to use Your DEX instead of those prominent DEX i.e uniswap ? Also , if Your token presale don’t go well ,will u still be able to fund ur project to achieve that target which u have mentioned in your roadmap ?