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$INSUR token holders can lock their $INSUR tokens and get veINSUR to join the InsurAce DAO and become Claim Assessors.
Claim Assessors are entitled to vote in each claim assessment and earn $INSUR token rewards should their votes match the voting result.
During each voting session, the more $INSUR tokens a Claim Assessor locks, the more voting tickets the Claim Assessor gets (* voting weight will be capped at 5% of the total votes), and the more $INSUR token rewards the Claim Assessor receives.
1. Users will only qualify as Claim Assessors and be able to vote if they have locked their $INSUR tokens and got veINSUR before each voting session begins. Users who locked after shall be disqualified.
2. Claims can be assessed by Claim Assessors across all chains. Users can lock on any chain to qualify as Claim Assessors.
3. $INSUR tokens locked in the DAO will not be used for claim payouts (if any).
Voting weight measures the percentage of a user's voting tickets versus total votes during the voting session, based on the formula below:
- : amount of veINSUR received by user A on all chains
- : amount of veINSUR received by all users on all chains
- : the calculated weight will be capped at 5%
The voting weight will then be used to calculate the number of voting tickets a Claim Assessor gets:
- : total number of tickets for voting.
- User A has locked $INSUR and received 100 veINSUR on Ethereum, 500 veINSUR on Polygon and 200 veINSUR on BSC.
- Total amount of veINSUR received by all users on all chains is 10,000.
- Total number of voting tickets is 10,000
Hence, for User A:
- Staking weight is (100+500+200)/10000 = 8%
- Voting weight is 5%
- Number of voting tickets is 10000 * 5% = 500Become a Claim Assessor
- Approve the transaction in your wallet. Congratulations, you are now a Claim Assessor. 😊
- Navigate to the Dashboard, then scroll down to the Claim Assessment section.
- Vote on claims with status marked as "Open for Voting" by clicking on the green button highlighted under "Action".
- Vote to accept or reject the claim by selecting one of two options shown below, and thereafter approve the transaction in your wallet. Come back later to check out your rewards in My Records -> My Rewards after voting ends.
Vote "Accept" or "Reject".