😎Why ReportingDAO?

Judgement module for insurance payment

ReportingDAO as Indirect Democracy

As the judgment module, InsureDAO delegates the authority of insurance payments to the ReportingDAO. Between automatic and manual judgement, this option was chosen as the base of decision making to be flexible to fit all kinds of incidents.

‌The ReportingDAO consists of members who is the expert in smart contract & security. The ReportingDAO is intended to be neutral and expected to validate the incident case based on the fact and payment guidelines.

The member of the ReportingDAO holds the INSURERPT token (InsureDAO Reporting Token), that is granted/burnt by The Community DAO. That is to say, InsureDAO token holders can collectively vote to either elect any suitable candidate for the ReportingDAO or dismiss any existing member of the ReportingDAO who is deemed inappropriate.

Why ReportingDAO?

We introduce ReportingDAO as our built-in oracle that determines whether or not to pay out insurance, and how much to pay out based on a set of predetermined payment guidelines.

We decided to introduce ReportingDAO to ensure the reliability of the investigation and to prevent arbitrary reporting and payment decisions by token holders.

What ReportingDAO will do

The ReportingDAO will investigate and help decide whether or not to pay out when a certain incident happens

• Submitting initial reports A valid initial report should contains;

  - The details of incidents - The cause of incidents - Applicability of coverage - Payout rate if applicable

• Validating submitted reports

  Validators check if the submitted report is correct.

Reporting Incentive

⚡pageReporting Fee

Reporting process

Anyone can request a payment decision to ReportingDAO, and once the request accepted, InsureDAO reporting process begins.

More details can be seen in the page below.

🗃️pageReporting Process