User Journey through Satsurance

The Satsurance platform provides a smooth, decentralized experience for participants like Sponsors, Stakers, and Proposers, allowing them to effortlessly create, fund, or buy insurance products. This user journey showcases how each role engages with the platform, emphasizing its efficiency, clarity, and robust security features.

Sponsor Persona: Sarah Scenario: Sarah, a team member from a Bitcoin Layer 2 initiative, aims to launch an insurance product.

• Creating Pools: Sarah signs into Satsurance and sets up a coverage pool. She tailors it by defining key details like coverage caps, accepted digital assets, and risk control guidelines.

• Securing Funds: She outlines terms to attract Stakers, encouraging them to add liquidity to the pool by offering competitive returns tied to the covered risks.

• Releasing the Product: After the pool secures enough funding, Sarah lists her insurance product on the Insurance Marketplace, making it available to Proposers. This boosts her Bitcoin Layer 2 project’s credibility and safety with decentralized insurance.

• Result: Sarah establishes a thriving coverage pool, drawing in liquidity providers and enhancing security for her project’s users.

Staker Persona: Bob Scenario: Bob, a wealthy investor, opts to stake his assets in a coverage pool.

• Linking Wallet: Bob logs into Satsurance, selects "Connect Wallet," picks his preferred provider, and securely ties his wallet to the system.

• Choosing a Pool: He explores the Insurance Marketplace, browsing coverage pools until he spots one with a compelling APY that matches his risk comfort level.

• Adding Liquidity: Bob stakes his assets in the chosen pool, earning LIT and rewards through the APY, which grows as more insurance products are sold and maintained in the pool.

• Result: Bob earns steady passive income by staking in a decentralized insurance pool while supporting the ecosystem’s stability.

Proposer Persona: Alice Scenario: Alice, a small-scale investor, wants to safeguard her Bitcoin assets during DeFi ventures.

• Linking Wallet: Alice visits Satsurance, clicks "Connect Wallet," chooses her provider, and connects her wallet to access the platform.

• Exploring Coverage: She heads to the Cover Section, where the system evaluates her DeFi activities and Bitcoin holdings, recommending tailored insurance options.

• Buying Coverage: Alice examines the premium rates displayed, picks the product that best mitigates her risks, and completes the purchase with one click.

• Result: Alice protects her Bitcoin in the DeFi space, gaining confidence that her assets are shielded from potential threats.

Claims Process Satsurance delivers a straightforward, equitable, and swift claims system, varying by insurance type:

• Parametric Claims: For specific events like smart contract breakdowns or protocol breaches, smart contracts handle claims automatically. When a predefined trigger occurs, payouts are executed instantly, offering users like Alice rapid, dependable protection without manual steps.

• Governance-Based Claims: Traditional insurance claims follow a decentralized evaluation. Governance members—security specialists, risk experts, and bug bounty contributors—review each case carefully, ensuring compliance with policy terms. Approved claims are paid out within three days, delivering timely relief with fairness and transparency.