i3 operates as a decentralized insurance protocol that provides a hedge against unforeseen risks in the cryptocurrency space, such as smart contract exploits, hacks, and stablecoin de-pegging events. Unlike traditional insurance, it utilizes a peer-to-peer model where a "Cover Pool" is funded by liquidity providers. Users can purchase protection for their digital assets, and in the event of a covered loss, claims are assessed and paid out from this pool. The platform aims to offer a transparent, community-governed, and capital-efficient alternative to centralized insurance for DeFi users.

Founded in

United States