InsurAce V2 will implement an internal aggregator whereby operations are synchronized across multiple chains in the backend and user experience is chain agonistic on the frontend.
The aggregator will bring in the following changes:
Capital aggregation
Before aggregation:
The capital pools are segregated among different chains. For example, the capital staked on Ethereum network will only be used to underwrite risks for covers purchased on Ethereum.
After aggregation:
the capital from all chains will be aggregated to be used for risk underwriting. This helps to increase the underwriting ability and capital efficiency.
In the event there is a claim payout, the loss will be distributed. Capital will be taken from all underwriters in proportion to their staking value.
The capacity are segregated among different chains and be constrained by the TVL on each chains. Users need to toggle between chains to view the capacity on different chains. Moreover, if the product is sold out on chain A, users have no choice but to bridge their assets to purchase through other chains.
After aggregation:
The cover capacity will be aggregated, allowing users to view and get access to the full capacity through any chains. If previously users can only purchase $1M cover through Ethereum network, now they might be able to purchase $4M cover through Ethereum network. Such aggregation will provide maximum and optimized capacity efficiency.
A claim filed on chain A can only be assessed by claim assessors staking INSUR on chain A. Users need to toggle between chains to view the claim on different chains.
After aggregation:
The claim can be viewed and assessed by users across chains. Claim assessors can stake their INSUR tokens on any chains to participate in voting. No need to bridge INSUR tokens among different chains.
The aggregator will help to enhance capital efficiency and improve the user experience as the chosen chain is simply a method for users to connect to InsurAce's services. The services users can access now are identical regardless of which chain they are in.