Proposal to Whitelist DIP (DEPRECATED)

Contract Address: 0xc719d010b63e5bbf2c0551872cd5316ed26acd83

Website: https://etherisc.com/

Github: Etherisc · GitHub

TLDR; Decentralized insurance protocol to collectively build insurance products.

Discussion

Etherisc is building a platform for decentralized insurance applications. With visionaries
like you, we can create a platform full of opportunities across the industry’s value chain.
Corporates, large and small, not-for-profit groups and insurtech startups can all come
together to provide better products and services. We aim to use blockchain technology
to help make the purchase and sale of insurance more efficient, enable lower
operational costs, provide greater transparency into the industry and democratize
access to reinsurance investments.

More specific, blockchain can help to solve four main problems which pile up costs in
traditional insurance companies:

  1. Coordination (“managerial”) costs.
  2. Conflict of interest between customers and company.
  3. Information asymmetry between customers and company.
  4. Access to risk pools

Token

Etherisc will build an economic space for decentralized insurance
The space will have a broad set of participants, customers, service providers, risk
carriers, etc., the goal is to incentivize these participants to cooperate and
behave well, and in line with the interests of the whole space.

Designed the protocol tokens to bind participants to the platform
and to assure the quality of the provided services. We are effectively implementing what
is known as “Staking”, focusing on the specifics of the risk transfer.

Even with this staking, Bancor is attractive.

The team/community is active in Telegram with over 3,000 members: Telegram: Contact @etherisc_community

Generic Insurance Framework (GIF) Tutorial: https://blog.etherisc.com/gif-tutorial-part-1-dc595057c1b9

Decentralized Insurance: Quantifying Risk for The Immutable: Decentralized Insurance: Quantifying Risk for The Immutable - YouTube

Inclusive Insurance in Sri Lanka: https://blog.etherisc.com/etherisc-aon-and-oxfam-in-sri-lanka-on-a-mission-to-expand-inclusive-insurance-in-sri-lanka-696b51c98d9b

Mentioned in an article by Adelyn Zhou, CMO of Chainlink Labs: https://www.nasdaq.com/articles/how-blockchain-smart-contracts-are-reinventing-the-insurance-industry-2021-01-29

Etherisc was founded in 2016, and in the past four years they’ve spent a lot of time exploring the regulatory frameworks for blockchain based insurance.

MarketData

Etherisc DIP Token Price and Market Stats

|DIP Price|$0.294873|

|Etherisc DIP Token ROI|-24.6%|
|Market Cap|$53,402,609|
|Market Cap Dominance|0.00%|
|Trading Volume|$1,822,190|
|Volume / Market Cap|0.0344|
|24h Low / 24h High|$0.294856 / $0.355095|
|7d Low / 7d High|$0.251815 / $0.324772|
|Market Cap Rank|#379|
|All-Time High|$0.424327 -26.8%
Feb 05, 2021 (14 days)
|All-Time Low|$0.00226715 13596.1%
Jul 11, 2020 (7 months)

Etherisc DIP Token Supply|Circulating Supply|175,510,489 DIP|
|Total Supply|1,000,000,000 DIP|
|Max Supply|1,000,000,000 DIP|

22 Likes

TL;DR
Will vote yes for DIP

9 Likes

Will definitely be voting yes. Great & exciting project bringing real-world use cases to the blockchain.

8 Likes

Viewing your website, is there any updated Roadmap or documentation after 2018? It is hard to see the tangible steps that this project has planned for 2021 to achieve its aims.

Could be wrong but I would be worried these guys are stuck in the mud waiting for ETH 2.0.

1 Like

November 23, 2020 Roadmap https://blog.etherisc.com/here-is-our-plan-for-the-next-few-months-6a7fcbc5e01e

4 Likes

The case of spamming same proposal should be re-evaluated.

  • Perhaps increasing quorum requirement by 10% each time.
  • It also makes a good case for a project being none-legit.
1 Like

That’s absurd. The average voter turnout is under 50. GRT whitelisting had 36 supporters for and 0 against. The first DIP proposal had 36 supporters for and 4 against. Assumed the LM rewards would get DIP a better turnout but it looks like it’ll have to wait for the Snapshot voting where smaller accounts can show their sentiment.

I agree that if 80% voted against it, there should be a year block on that proposal or other routes of preventing spam. That’s not what’s going on here though. DIP wants more liquidity and Bancor should want more TVL and trading fees.

5 Likes

Bancor wants legitimate projects with a community. That way both Bancor and project XYZ will have mutual benefits.

  • Why no DIP/BNT pool?
  • Unclear DIP website that I have not clue on what the project is about
  • Random screenshot serve 0 value in my view
  • Spamming re-vote as soon as it end definitely…a …aaaa…a.a…a… good thing

Nothing against DIP. Just the lack of CLEAR informations on what this project is about and what it try to accomplish. Also lack of trade data. At least create a DIP/BNT pool and put something in that pool for starter.

1 Like

Agreed…

  • Why would a pool be created that exposes DIP to the same impermanent loss over at Uniswap where all the volume/TVL/Liquidity currently is?
  • That’s surprising, there is a good amount of info there. The project: Decentralized insurance protocol to collectively build insurance products.
  • I don’t know what to say to this haha… someone saying something doesn’t matter because it’s in picture format?
  • Again… it depends on the context. I don’t see many with over ~$140k in BNT (or lower case, ~$88k in vBNT) just aimlessly spamming Bancor with proposals. The first one had a solid voter turnout and the majority was for it. Going to wait for Snapshot voting to come so the community can share its sentiment… although again, I feel this was validated by receiving the same amount of for votes as GRT’s whitelisting not too long ago.

That’s good. Again, I’m not sure what docs are missing, the website is filled with blog posts and documentation.

UniSwap currently has all that trade data.

# Exchange Pair Price Spread +2% Depth -2% Depth 24h Volume Volume % Last Traded Trust Score
* eToro eToro Sponsored
* Crypto.com Crypto.com Sponsored
1 Uniswap (v2) Uniswap (v2) DIP/ETH Info $0.293066 0.6% $17,483 $17,430 $403,407 32.94% Recently
2 Honeyswap Honeyswap DIP/XDAI $0.297579 0.61% $1,883 $1,877 $7,585 0.62% Recently
3 Bilaxy Bilaxy DIP/ETH $0.308155 9.81% $0 $0 $796,092 65.00% Recently
4 Uniswap (v1) Uniswap (v1) DIP/ETH $0.292560 - - - $22,633 1.85% Recently -
5 1inch 1inch DIP/ETH $0.270657 - - - $9,942 0.81% Recently -
4 Likes

Etherisc is ramping up to be a staple in decentralized insurance, not per se by the products that they will soon be releasing but rather as a framework on which parametric insurance of any kind can be built. Trading volume has been steadily increasing since over half a year, community is constantly growing and becoming more vocal.

Very strange to see “I looked at the website and don’t understand what the product does” as an argument against listing, as the project has received grants from both The Ethereum Foundation and most recently Chainlink Labs.

If they understood “what the product does”, that seems to be a good indication of where the project is headed.

Bancor being in the stage of growth it’s currently in would benefit from swallowing up a lot of $DIP’s liquidity BEFORE the token gets more widely distributed (considering the team made it clear CEX listings would be on the agenda as soon as products go live).

7 Likes

Yes, DIP is an extremely legitimate project with a very vibrant community. It is one of the most exciting projects in terms of first movers on a tangible real world use case. A decentralized insurance protocol for others to build insurance products on top of. It is a very clear - single focused project.

I’ll be voting yes.

5 Likes

whitelist no problem 100% for this. dont see why people are against it, this is a link marine favorite. and uniswap is showing close to a 50% utilization ratio so there is money to be made for us here at bancor. id be courious to know about any exploit risks as im always wary of insurance but as far as insurance protocols go i know from frenly sources they are legit. I think DIPs different insurance infrastructures could also serve us in the future.

2 Likes

While I am strongly in favor of whitelisting DIP, I believe it is prudent to wait until there is a viable product and we are past the price discovery phase. While Bancor will lose out on fees during a volatile period, I think waiting is worth it because the IL insurance isn’t stressed from the onset if the token was to be whitelisted and then shortly after were to increase by a significant amount.

3 Likes

Whitelist for DIP is questionable. I am of the opinion that we should only whitelist working products. DIP is still highly speculative. I want to steer clear from things that have not fully realized at least an alpha version of a working product.

Leaning AGAINST

1 Like

Is it wrong for me to just want to add as many projects as possible? Don’t care what they represent and all that stuff. DYOR we just keep the options open is all

1 Like

I will be voting yes for DIP.

2 Likes

As DIP only failed to get quorum, I encourage the authors to re-submit this proposal on Snapshot after we migrate. The gasless voting ought to make attaining quorum (either FOR or AGAINST) a lot easier.

There are a lot of DIP token holders in our community - so the lack of attention in the previous rounds is almost certainly due to gas fees.

1 Like

I certainly will be voting in favor.

3 Likes

I don’t understand, I never saw any proposal on the Bancor Network Vote page… am I missing something? Is there another platform for voting?

thanks in advance… I would love to see DIP make it.

1 Like

Snapshot - Here is the snapshot page, i agree the site needs to be updated.

2 Likes