An Ethereum (ETH)-based decentralized finance (DeFi) altcoin has ripped by more than 82% this week as most crypto projects tracked sideways.
InSure DeFi (SURE) is an insurance ecosystem for the blockchain realm that helps protect users of DeFi, non-fungible tokens (NFTs) and metaverse gaming.
The project’s native token, SURE, is worth $0.00798 at time of writing. The 182nd-ranked crypto asset by market cap is up 82.4% in the past week, 203.5% in the past 30 days and more than 320% since the start of 2023.
The Hong Kong-headquartered crypto exchange Hotbit listed the crypto asset on Monday. Vulkania, a crypto dashboard and data aggregation platform, rolled out a dashboard for inSure earlier this month. And O3 Labs, a decentralized exchange (DEX), listed SURE on March 4th.
InSure aims to offer portfolio protection to DeFi traders from scammers and unexpected losses.
Explains the project’s whitepaper,
“The project aims to create an ecosystem to distribute the risks, where premiums are determined by a Dynamic Pricing Model. Capital required to back the risks at any point of time will be based on the market pricing of SURE tokens and community demand for insurance of the crypto portfolios.
A decentralized support system will be established to diligently process all the insurance claims and implement the layers of inSureDAO voters to make sure any fraudulent claims are flagged and only valid claims are fulfilled.”
Despite inSure’s massive gains this year, it still remains 93% down from its all-time high of $0.113970, which it hit in early 2021.
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