From 4d86d3eb16ad2f206819c1af865b050e0537b72e Mon Sep 17 00:00:00 2001 From: Christoph Mussenbrock Date: Wed, 6 Nov 2024 16:26:22 +0100 Subject: [PATCH 1/3] Create DIP-63.md --- DIPs/DIP-63.md | 59 ++++++++++++++++++++++++++++++++++++++++++++++++++ 1 file changed, 59 insertions(+) create mode 100644 DIPs/DIP-63.md diff --git a/DIPs/DIP-63.md b/DIPs/DIP-63.md new file mode 100644 index 0000000..05f5466 --- /dev/null +++ b/DIPs/DIP-63.md @@ -0,0 +1,59 @@ +--- +DIP: 15 +Title: Travel insurance +Status: Draft +Themes: Travel, Safety +Instances: Devcon7 +Tags: DeFi, Insurance, Peer2Peer +Authors: Christoph Mussenbrock +Resources Required: Social Media Support +Discussion: https://forum.devcon.org/t/dip-63-travel-protection-flight-delay-protection/5244 +Created: 2024-11-06 +--- + +## Summary of Proposal + +A lot of people will travel to DevConVI. This will impose a number of risks to these people: +flight Delays, baggage loss, theft, and others. We will build a decentralized travel insurance for DevConVI participants. + +## Abstract +We will offer a FlightDelay Insurance for DevconVI attendees. + +People can select their flight(s) and pay USDC 15 as a premium. +Via an oracle, the risk of the flight being late is calculated, which determines the maximum amount paid out in case of a delay. + +After landing, the actual delay is determined by a second oracle call and in case of a delay, the payout is calculated +and immediately transferred to the customers wallet. +The core business process runs on our +"[Generic Insurance Framework](https://github.com/etherisc/gif-next)" and does +not necessarily need any off-chain components, which are, however, provided for convenience. + +The Dapp is available via [https://flightdelay.app](https://flightdelay.app) (in production, premiums in USDC) or +via [https://flightdelay.integration.etherisc.com](https://flightdelay.integration.etherisc.com) (for testing, test-tokens available on request). + +We will explore if other travel related insurance products can be implemented in a similar way, e.g. baggage loss, +theft, and others, depending on availability of reliable loss data. + +Claims are paid out from risk pools. Investors can provide liquidity for risk pools. Liquidity providers receive +those premiums which are not used to pay out claims. To become a liquidity provider, investors need to +stake [DIP (Decentralized Insurance Protocol) tokens](https://etherscan.io/token/0xc719d010b63e5bbf2c0551872cd5316ed26acd83). + +## Motivation & Rationale +Attendees get peace of mind when travelling to DevConVI. This will increase their well-being +and will also attract people who otherwise would abstain from participation. +DevCon7 attendees will most likely be willing to use blockchain based insurance because it fits +best in their DeFi engagement. Payouts can be immediate and no paperwork is needed. +FlightDelay Insurance has been offered at DevConII in Shanghai and got a lot of good feedback, +it was the first insurance Dapp on Ethereum - time to bring it back! + +## Implementation +FlightDelay has been implemented using our [Generic Insurance Framework](https://github.com/etherisc/gif-next). +It currently lives on Base L2 but can be deployed on any EVM chain. + +## Operational Requirements & Ownership +Implementation and operation will be provided by Etherisc. + +## Links & Additional Information +- https://etherisc.com +- https://github.com/etherisc/gif-next +- [Blog describing the Chainlink Integration of FlightDelay Oracles](https://blog.etherisc.com/etherisc-to-leverage-chainlink-oracles-for-decentralized-flight-insurance-product-9559b64d79c7) From e72a082db373d009f9972f0a8e919919946c0e10 Mon Sep 17 00:00:00 2001 From: Christoph Mussenbrock Date: Wed, 6 Nov 2024 16:30:37 +0100 Subject: [PATCH 2/3] Fix Dip # --- DIPs/DIP-63.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/DIPs/DIP-63.md b/DIPs/DIP-63.md index 05f5466..8e47290 100644 --- a/DIPs/DIP-63.md +++ b/DIPs/DIP-63.md @@ -1,5 +1,5 @@ --- -DIP: 15 +DIP: 63 Title: Travel insurance Status: Draft Themes: Travel, Safety From a40d07ed6c8d67482ab24f873d3fcaea47761227 Mon Sep 17 00:00:00 2001 From: Christoph Mussenbrock Date: Wed, 6 Nov 2024 16:52:45 +0100 Subject: [PATCH 3/3] Fix typos --- DIPs/DIP-63.md | 6 +++--- 1 file changed, 3 insertions(+), 3 deletions(-) diff --git a/DIPs/DIP-63.md b/DIPs/DIP-63.md index 8e47290..745dc33 100644 --- a/DIPs/DIP-63.md +++ b/DIPs/DIP-63.md @@ -13,8 +13,8 @@ Created: 2024-11-06 ## Summary of Proposal -A lot of people will travel to DevConVI. This will impose a number of risks to these people: -flight Delays, baggage loss, theft, and others. We will build a decentralized travel insurance for DevConVI participants. +A lot of people will travel to Devcon SEA. This will impose a number of risks to these people: +flight Delays, baggage loss, theft, and others. We will build a decentralized travel insurance for Devcon SEA participants. ## Abstract We will offer a FlightDelay Insurance for DevconVI attendees. @@ -39,7 +39,7 @@ those premiums which are not used to pay out claims. To become a liquidity provi stake [DIP (Decentralized Insurance Protocol) tokens](https://etherscan.io/token/0xc719d010b63e5bbf2c0551872cd5316ed26acd83). ## Motivation & Rationale -Attendees get peace of mind when travelling to DevConVI. This will increase their well-being +Attendees get peace of mind when traveling to DevConVI. This will increase their well-being and will also attract people who otherwise would abstain from participation. DevCon7 attendees will most likely be willing to use blockchain based insurance because it fits best in their DeFi engagement. Payouts can be immediate and no paperwork is needed.