Ethereum Slashing Cover Guide

A step-by-step guide on filing claims for Ethereum Slashing Cover

Step 1: Check Deadlines

In the event a claimant’s validator is slashed, the claimant should promptly check their slashing cover’s terms and conditions for the deadlines on filing claim and evidence. By default, this is set to 15 days after cover expiry. Duplicated claims or claims twice rejected will be deemed invalid.

Step 2: Login to InsurAce dApp

To access their records and file a claim, claimants should login with their Cover Purchase Address (i.e. the wallet address used to purchase their cover).

Step 3: Locate Cover

Locate the cover you wish to claim from in your dashboard and select the claim icon as highlighted above.

Step 4: File Claim and Evidence

Enter the required claim details including a description of the loss event. Supporting documents to serve as evidence may be filed at [email protected]. A small percentage of the claim amount will be charged to the claimant for administration fees.

Step 5: Investigation and Voting

The claim is investigated by InsurAce’s Advisory Board which consists of insurance, blockchain, and security experts.

The details and results of the investigation, and a cover payout proposal is produced in a report, which is then voted on by claim assessors from the InsurAce community.

Voting results are public and recorded on-chain. In the event of poor voter turnout, the Advisory Board will decide the claim outcome.

In the meantime, claimants may cancel or review the status of their claims on their dashboard.

Step 6: Withdraw Payout

If the claim is approved, the claimant may withdraw their payout under ‘Claim Payout’ on his or her dashboard by selecting the ‘Withdraw’ button. A pop-up window will appear for the claimant to key in the amount they wish to withdraw (up to the assigned limit) before confirming the withdrawal and receiving the payout.

Claimants must use the withdrawal or wallet address registered with the staking platform under their user ID at time of claim payout to withdraw their funds.