About Neptune Mutual
Neptune Mutual is a blockchain cover protocol that safeguards the Ethereum community from cyber threats to contemporary financial products.
Elevator Pitch#
Just like the traditional parametric insurance products, Neptune Mutual cover pools provide guaranteed payouts upon triggering a set of the predefined event(s). These predefined events are also known as cover parameters. Cover parameters consist of rules and exclusions. Payouts can only occur when all cover conditions are met and no exclusions are present. The term cover incident refers to a state in which all cover rules and exclusions have been met.
Background#
The Neptune Mutual protocol doesn't have knowledge of events happening in the real world.
To correctly establish the fact of a cover incident, the NPM tokenholders participate in a consensus system known as reporting. A reporter is the first person to report an incident; a candidate reporter is the first person to disagree with the reporter. The NPM tokenholders can support the reporter by submitting attestations or the candidate reporter by submitting refutations.
The consensus rule for each cover product has a reporting period that begins as soon as a report is submitted. To participate in the reporting system, tokenholders must stake their tokens.
A decision, or resolution, is made at the end of a reporting period. If the resolution is in favor of the reporter, policyholders can submit claims. As opposed to existing discretionary cover protocols on Ethereum, Neptune Mutual policyholders receive claims payouts immediately without having to wait, provide proof of loss, or undergo a special membership process.
As a result of the resolution, the invalid camp loses all its tokens. Some will be burned while others will be awarded to the valid camp.
Warning / Important
The Neptune Mutual Cover Protocol is currently in the early stages of development. Like any other blockchain project, there is a high likelihood of failure. It is essential to assess your risk exposure to NPM and cryptocurrencies in general, and not consider the tokens as an investment instrument. The only reason to acquire NPM tokens is to use them in the protocol.
We have not conducted any ICO, IDO, IEO, or public sale. Beware of scammers attempting to sell fake NEP/NPM tokens.
Neptune Mutual Marketplaces#
Disclaimer#
Images used for demonstration purpose only. All images are copyright to their respective owners and are protected under international copyright laws. Neptune Mutual is not suggesting or indicating any partnership with or any endorsement from the above-listed companies.