Dear community users:
1. FInsur will launch a series of specific scenario insurance for community users with FCoin, which include: fall-on-debut insurance, delisting insurance, and asset impairment insurance, etc.
2. All insurance products are backed up with automated claims, so that the users don’t have to make claims themselves.
3. Premium and gross profit distribution. According to the principle of Insuring as Mining, the premium for all scenario insurance products will be returned to the policyholders in form of FI (Preliminary daily return limit is up to 2 million FI, which will be adjusted on market conditions.). At the same time, users holding FI will participate in the 80% gross profit distribution of the FI community, depends on the proportion of FI they hold among the total FI in circulation. The settlement date is first day of each month, and the gross profit will be distributed to each FI Holders before the 10th of each month, after he settlement statistics are completed. The first settlement date is September 1, 2018.
4. The FInsur community is about to launch its first scenario insurance “asset impairment insurance”. The first period of insurance is from 0:00 on August 5, 2018 to 23:59 on August 11, 2018 (GMT+8, the same below). The details are listed as follows (the final information is subject to the insurance page displayed):
Insurer: FInsur Community
Insured: registered users of FCoin platform
Insurance Product Name: Asset Impairment Insurance (Trial Run)
Insurance cycle: A natural week is an insurance cycle, specifically Sunday 0:00 - Saturday 23:59. The first insurance period is from 0:00 on August 5, 2018 to 23:59 on August 11, 2018.
Insurance liability: The FCI06 index is the standard. If FCI06 index drops by more than 20% during the insurance period, the claim process is automatically triggered and the agreed insurance amount will be paid. Only one claim will be paid during each insurance period (please refer to the FCI06 index algorithm, the specific index will be displayed on the FCoin homepage before the first phase of insurance coverage).
Premium Payment: Only USDT is accepted for premiums. The insurance premium is $2 at least and up to 10 USDT for each registered user, under the premise that FI's daily issuance is up to 2 million. The total insurance number in each insurance period shall be no more than 10 times.
Compensation Standard: If the FCI06 Index falls which claims process was triggered during the insurance period, FInsur will pay 300% of the insured's premium. However, only one claim will be paid during each insurance period.
Aug 1， 2018