Uno Re x Rocket Vault AMA Recap

On August 14th, Uno Re had the pleasure of joining Rocket Vault’s Telegram community.

Founders, Jaskanwar Singh and Sujith Sizon answered the most frequently asked questions about the policy cover Uno Re would be offering the users of Rocket Vault!

Here’s a quick recap!

Highlights of the AMA:

What will Uno Re’s dApp comprise of? What benefit can users expect out of this revolutionary concept?

**Jas: **Our very first product from Uno Re will be our Risk Investment Platform — our preliminary launch consists of several cohorts, with each cohort strategically designed to ensure maximum investor capital utilisation and the highest APRs.

Each cohort houses multiple pools, and the objective of this diversification is to spread risk — each pool comprises different types of covers and uncorrelated asset classes, which allows our investors to be hedged and ensures that they continue to earn steady revenue on their invested capital.

**Sujith: **Within our first cohort we cover 3 protocols — our very first being RVF! We’ll be providing RVF’s Staking Vault users customised CEX coverage, which will afford to them an extra layer of security in case of an unforeseen event like a hack attack from bad actors within the space — which if you’ve been following recent news, has become unfortunately commonplace.

Rocket Vault users will be offered a specialised and extensive CEX Cover by Uno Re. Could you share more details about this collaboration?

**Jas: **To begin with, CEXs are Centralized exchanges, and the cover of a CEX is to provide claims for when/if a CEX faces an unforeseen hack leading to loss of funds.

Uno Re will provide a comprehensive CEX Cover for the Rocket Vault Finance Binance Business Account, with the Total Covered Amount being USD 100,000 with a sublimit of USD 10,000 per user.

**Sujith: **Users on RVF’s platform will now have the option of purchasing these policies in order to secure their funds further in the unforeseen event that Rocket Vault’s USDT wallet on their Binance business account is ever compromised due to the occurrence of certain unexpected eventualities.

We’re also very excited to be bringing in our partner Polkacover into this collaboration — all policy claims administered would be managed on PolkaCover’s Insurance Aggregator platform, from registration to claim assessment.

We’re super pumped to be having the opportunity to collaborate with both these innovative platforms in such a cohesive way to bring the crypto community the best possible user-experience!

What’s the need of a CEX cover? The benefits of it and how can users buy the policy itself?

Sujith: The need for insurance within the crypto-space has never been as stark as it is now — specifically for CEXs, in the last 4 years alone there has been a massive loss of capital due to exploits adding upto over $1.39 Billion.

With such high numbers, I think it’s fairly apparent that the crypto community must be adequately insured against such catastrophic losses.

Uno Re aims to fill this massive gap within the space and step in to fulfil this need for protection and we feel strongly that the crypto community deserves such contingencies in place in order to protect their hard-earned funds.

The inspiration behind Zeus, Athena and Artemis. How do these ancient Greek deities relate to the actual pools?

**Jas: **‘Zeus’ was the thunderous King of the Gods in ancient Greek mythology, and just like its namesake, our very first pool will follow the bold directive of high-risk-high-reward — with a slightly higher risk, but also the highest returns. This pool is for individuals who have a greater risk appetite and a more daring approach — in return, also boasts APRs of upto 25%.

The goddess of Knowledge and Wisdom, Athena.

This pool is for individuals with a good head on their shoulders, and a more medium risk appetite — ideal for investors looking to undertake a median level of risk and in turn guarantee a steady stream of income with consistent returns of upto 15%.

Lastly, Artemis — the goddess of Nurture and The Hunt!

This pool is for individuals with a more modest risk appetite and newcomers looking at investing in crypto assets. It is a strategically safer option where investors may enjoy APRs of upto 10%.

These three pools collectively summarize what investment options users can invest their capital in on our Risk Investment DApp and the high rewards they can expect to earn on these investments.

The Uno Re team is thrilled to announce the launch of the Uno Re Risk Investment dApp. We’re super excited for what’s coming and we look forward to providing that additional layer of protection to your valuable funds!

About Uno Re

Uno Re will be the world’s first decentralized reinsurance platform powered by Polkadot, allowing the community to invest and trade in ‘risk’ and receive sizable returns on their investments in one of the safest asset classes in the world. The platform will break barriers to entry for the retail investor by doing away with the historic pre-requisite of absurdly high capital generally needed to invest in the market while also introducing much-needed transparency into the industry as a whole. Uno Re will also allow the community to propose innovative insurance products to the space, thus propelling a new generation of Insurtech companies powered by the Uno Re ecosystem.

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