Hello everyone,I just started to study information about the project. I would like to know more information about the insurance structure. How will this be realized?
Hi @bpcguy and welcome to our project! Have you joined our Telegram and Discord already? Back to your question: When issuing a loan, insurance coverage works the following way:
1. A part of the credit body concerning no return is secured with KYC Masternodes stake (don't mess with PoS masternode, these are different masternodes)
2. Another part of the loan body in case of no return is guaranteed with Auditor Masternodes stake
3. The total amount of the support entirely depends on the level of the risk of the application. The higher the risk, the more security deposit to be required by the network.
Yes, I've already joined them, thanks!
That's an interesting. But where are this insurance money come from? Who pays them?
If you look through the whitepaper, you'll be able to find that info.
Part of money will be paid by the KYC masternode by itself. To get a reward you'll have to check the loan details properly and risk by your own money.
