When launching a new cover, you can include a reassurance fund. Liquidity from the reassurance fund lowers cover fees and offsets liquidity providers' losses during cover incidents, enhancing the confidence of the liquidity providers. When a cover incident is finalized, the reassurance tokens are reimbursed as support to the liquidity providers.

Based on available liquidity, the reassurance contract will capitalize up to 25% of the suffered loss to the liquidity pool.

Add Reassurance#

import { ChainId, reassurance, registry } from '@neptunemutual/sdk'
import { info } from './info.js'
import { getProvider } from './provider.js'
import { parseUnits, unitsAsToken } from '../../bn.js'

const increase = async () => {
  const { key, coverName, reassuranceToken } = info
  const { symbol } = reassuranceToken

  const provider = getProvider()

  // getting token address from registry Stablecoin
  const tokenAddress = await (await registry.Stablecoin.getInstance(ChainId.Mumbai, provider)).address
  // getting token from IERC20 instance
  const token = await registry.IERC20.getInstance(tokenAddress, provider)
  // getting symbol from the token
  const symbol = await token.symbol()
  // getting token decimals
  const decimals = await token.decimals()

  const amount = parseUnits(100, decimals)

  let response = await reassurance.get(ChainId.Mumbai, key, provider)
  console.info('[%s Reassurance] Before: %s', coverName, unitsAsToken(response.result, decimals, symbol))

  response = await reassurance.approve(ChainId.Mumbai, { amount }, provider)
  // Wait for the transaction to get included in a block
  await response.result.wait()    

  response = await reassurance.add(ChainId.Mumbai, key, amount, provider)
  // Wait for the transaction to get included in a block
  await response.result.wait()

  console.info(response)

  // Wait for the transaction to get included in a block
  await response.result.wait()

  response = await reassurance.get(ChainId.Mumbai, key, provider)

  console.info('[%s Reassurance] After: %s', coverName, unitsAsToken(response.result, decimals, symbol))
}

increase()

/*****************************************************************************
[info] [Compound Finance Cover Reassurance] Before: 50,000.00 COMP
[info] {
  status: 'Success',
  result: {
    nonce: 1,
    gasPrice: BigNumber { _hex: '0x06fc23ac00', _isBigNumber: true },
    gasLimit: BigNumber { _hex: '0x01fe55', _isBigNumber: true },
    to: '0xC551E926F7B251cc6579BE111C65079f25e50e53',
    value: BigNumber { _hex: '0x00', _isBigNumber: true },
    data: '0x9295182570726f746f3a636f6e7472616374733a636f7665723a6366633a303100000002000000000000000000000000076f91c0a411197e6fce476f37c6385cceacd26d00000000000000000000000000000000000000000000152d02c7e14af6800000',
    chainId: 80001,
    v: 160037,
    r: '0xb648e7979b067ae87af2789e64bcc16bfd3d13c9d2bd6fb4bae9d6c1f75b7f17',
    s: '0x15956535e8d34fb17cfa36cdcfd5d58a5d3f57956d57de2dc519bc8abc7c52aa',
    from: '0x076F91C0A411197e6Fce476F37c6385CCeacd26D',
    hash: '0xc2d7e8ff50b2463f2a2b044baadff3cedfd7caa1369eacd31ec864fbe5651d41',
    type: null,
    wait: [Function (anonymous)]
  }
}
[info] [Compound Finance Cover Reassurance] After: 150,000.00 COMP
*****************************************************************************/

Get Reassurance#

import { ChainId, reassurance } from '@neptunemutual/sdk'
import { info } from './info.js'
import { getProvider } from '../../provider.js'
import { unitsAsToken } from '../../bn.js'

const get = async () => {
  const { key, coverName, reassuranceToken } = info
  const provider = getProvider()

  // getting token address from registry Stablecoin
  const tokenAddress = await (await registry.Stablecoin.getInstance(ChainId.Mumbai, provider)).address
  // getting token from IERC20 instance
  const token = await registry.IERC20.getInstance(tokenAddress, provider)
  // getting symbol from the token
  const symbol = await token.symbol()
  // getting token decimals
  const decimals = await token.decimals()

  const response = await reassurance.get(ChainId.Mumbai, key, provider)
  console.info('[%s Reassurance] %s', coverName, unitsAsToken(response.result, decimals, symbol))
}

get()

/*****************************************************************************
[info] [Compound Finance Cover Reassurance] 150,000.00 NPM
*****************************************************************************/