It is a well-known fact that there is no such thing as a bug-free code. Smart contracts, cryptocurrency exchanges, and digital asset custodians all are prone to human errors. It can’t be denied that numerous malicious actors are continuously investigating new ways to target and exploit possible vulnerabilities.
Neptune Mutual platform explores new avenues to creating user-centric risk protection products on the blockchain. By offering stablecoin-based cover pools for accurate risk management, we aim to attract a steady userbase and growing liquidity to the platform.
Neptune Mutual is a blockchain cover protocol that safeguards the Ethereum community from cyber threats to contemporary financial products.
At Neptune Mutual, we aim to build the first generation DACO, a fully decentralized autonomous cover organization. From purchasing cover from a pool, reporting an incident, dispute resolution, to claims payout, everything is fully transparent and decentralized.
Neptune Mutual is not a decentralized insurance protocol. In the Neptune Mutual platform, you do not need to register and become a member or go back and forth between the underwriters, claims adjusters, and involve in any activity related to verification and assessment of the cover you purchased. Anyone who has cToken can fully claim the cTokens for an equal amount in stablecoin payout whenever a cover incident occurs. In Neptune Mutual, there is no need for a middleman who checks claims individually. If a cover claim is valid for one, it is equally valid for the rest. Moreover, the incident does not necessarily have to result in your financial loss.
Through governance, the Neptune Mutual DAO can easily handle any cover situation. However, we’re only focusing on the smart contract and exchange coverage initially. The primary reason is commercial and competitive advantages and opportunities for our DAO.
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