INZURA is the world's first crypto insurance that offers premium towards crypto asset in the exchange. INZURA was founded by Muthu Selvan. Once crypto users lose their cryptocurrency in exchange, they are left with empty wallet. Inzura is here solves this problem and can be claimed towards their loss.
Problem and solution
Crypto market have gone through lots and lots of hacks and scam over the past years. There are few hacks that have shook the crypto market down to its very core. Even the top most exchange that handled 70% of the world’s bitcoin exchanges have faced most unexpected hack. Yet the hack did not stop there, about 120,000 BTC which was worth $72 million was stolen in August 2016. The hack continued all over the world from small volume exchanges to huge volume exchanges. South Korea have faced $30 million worth of hack in cryptocurrency in 2018. Exchange in India was hacked and over 440 BTC was hacked back in early 2018.
Till date many scams and hacks are ongoing. One of the biggest scam ever is BitConnect where the exact data of users and crypto invested is still unknown. Reports say over 100s of million worth Bitcoin were scammed. All in all over billions of dollars worth of cryptocurrencies were hacked, stolen, and scammed in this crypto space.
Regulations tightens up to reduce the scam and there are few restrictions to control the scam and hack, but there is not even single solution for the loss that has happened. Moreover, people lose faith and trust in the crypto space because of no guarantee that the loss of crypto can be settled. An average user using the crypto trading will not come back when they face this kind of situation.
To give solutions to all these problems, INZURA is developed and tested with the best in class protocol for insurance specially designed with cryptocurrency in mind. Inzura is the next revolutionary project in the crypto space. Inzura is an insurance token that allows users to claim their loss of cryptocurrency.
Inzura token mechanism
One of the most important factor of INZURA ecosystem is token mechanism. Token mechanism by itself explains the use case of INZURA token.
It all starts by the user and ends with user. The system is triggered when the user claims the premium. The necessary protocol is undertaken and sent to the verification team, where they verify all the resource available and cross verify each data available. If the claim is found to be not legit or suspicious of any fraudulent activity, then the system rejects the claim and sends the token to the user’s wallet with penalty. If the claim is legit and all resource is confirmed, then the claim is approved and transferred to the sanctioning team. All necessary process is done and the protocol settles the claimant to user.
Crypto projects should have tokenomics explaining their functions, utilities, price prediction and value. Only project with strong idea which solves current issue and future plans can survive in the crypto market. Here, INZURA explains the usability, utility, price stability, future demand and price prediction.
Utility and usability
IZA token is only used to buy premium for crypto insurance. Buying premium can cover the crypto from any loss such as hack/scam/lost crypto asset for ever in an exchange. Token mechanism best explains the circulation process of IZA token in the market so that it has real time use case and demand that increases day by day. It shows how it flow through users and it’s usability. The following is the token mechanism of INZURA.
The price value of IZA token is similar to stable coin. The price value is directly dependent on FAP value in the INZURA platform. FAP protocol is implemented to make sure that price is stable and cannot pump or dump as seen in other coins/tokens when listing in an exchange. FAP is the base for IZA price value.
The demand for crypto insurance is so huge that it will drastically pull new investors and institutional investors which in turn directly reflects the crypto capitalization to pump high and bring the bull market. Users had bad experience in crypto space in the past since there has been many hacks and scams which took away user’s hard earned money, leaving bad impression on crypto. This in turn makes the crypto users to lack confident and trust. Bringing trust in each crypto user can trigger the bull run.
Trust is one of the key features in crypto space to take crypto next level. Without trust, bringing bull run is less likely to happen. Mass adoption only takes place when people trust the market. Mass adoption and institutional investor comes in when they have confident that they will not lose the crypto.
INZURA platform offers crypto insurance through premium towards the asset in crypto exchanges so that user can claim their loss and retrieve their coin in their native crypto. Since the total supple of INZURA is fixed and is only 120 million IZA tokens, it will create huge demand before even user starts realizing how important INZURA is. The circulating supply will hardly be around 100 million which is enough to make huge demand in the market. Since the FAP protocol is implemented, huge pumps and dumps can be avoided even though there is huge demand and mass adoption. Since the base price of FAP is $1, the IZA price can reach to its max of $5 because the claim coverage is directly based 5 times the FAP price.
IZA token price prediction is made simple. Claim value is directly based on FAP price. FAP is directly based total value of premium covered in the exchanges. For instance; if 100,000,000 is the circulating supply of IZA token and the claim leverage is 5 times the FAP value, premium can cover insurance value of about $500,000,000 worth of cryptocurrencies. When demand goes high, there will be very less token that will be circulating. If INZURA covers total $10,000,000,000 worth of premium with circulating supply of 100,000,000 IZA token, the FAP price can be predicted around $20 to cover 10 billion dollar worth of premium. This makes the price value of IZA token independent of Bitcoin price and does not follow the price trend irrespective of its pump or dump.
This makes the INZURA platform stable and sustainable forever. Most importantly the early investors are the one who benefit the most out of INZURA.