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Is there a Risk Harbor token?

No, there is no Risk Harbor token at the moment. Please beware of any scams that claim so and closely follow our official channels to find out when we will be launching it.

What is Risk Harbor?

Risk Harbor is a risk management marketplace for Decentralized Finance (DeFi) that utilizes an entirely automated, transparent, and impartial claims process to protect liquidity providers and stakers against smart contract hacks and attacks. Users can purchase protection that shields them from either a basket of risks or individually selected risks that they want to protect against. This creates a personalized buying experience for users to curate their protection to fit a wide variety of unique risk profiles.

What differentiates Risk Harbor from other solutions on the market?

Current solutions on the market utilize governance to dictate claim outcomes where the underwriters are the same people evaluating the validity of a claim. Naturally, incentives are misaligned and skewed heavily in favor of underwriters as they are highly incentivized to reject as many claims as possible to continue maximizing their rewards, all at the expense of policyholders. This approach is not optimal and is not a viable short-term nor long-term solution for the market.
Risk Harbor doesn’t use any governance at all. Risk Harbor takes a parametric approach to protection where the claims process is completely algorithmic, transparent, impartial, and not subject to any external human bias or intervention. Additionally, unlike the cumbersome claims process generated by the status quo, Risk Harbor pays out in less than 3 blocks of time or 45 seconds after a hack, making it a seamless and nearly instantaneous payment process for users.
Risk Harbor is protection for the people, built by the people.

How do I use Risk Harbor?

There are two ways to use the Risk Harbor protocol. First, a user can underwrite pools by depositing capital. In return, an underwriter receives premiums and tokens. Secondly, a user can purchase protection for a specific length of time in exchange for a percentage of tokens that they want to insure.
Check the "UI Guide" section in the documentation for a more detailed step-by-step explanation on how to use the platform.

How does Risk Harbor work?

Protection is underwritten by users who are also known as underwriters, who will have the ability to create a variety of unique protection pools with various custom parameters or have the opportunity to join existing pools created by other underwriters.
When users want to purchase protection, the total premium is paid upfront, and then a proportional amount is trickled down into the underwriters’ pool every block. An underwriter can then withdraw their initial capital in addition to protection fees accrued proportional to both the capital staked, as long as their withdrawal maintains the minimum capital requirement of the pool.
When a protected contract is hacked, protected users or policyholders submit two transactions to the protection contract to file a claim and receive a payout. Again, the protocol's core feature is its entirely objective and automated, meaning claims can be paid out within three blocks of a hack or attack.

Are there any fees?

No. Currently, there are no fees incorporated in the protocol.

If I underwrite, will my capital be locked?

Capital is only locked when it is needed to underwrite an outstanding policy. So as long as your capital is not being used to back a policy you can withdraw it at any time.

Can I withdraw from a staked underwrite position?

Yes, simply unstake on the staking tab and withdraw on the underwrite tab. Keep in mind that you cannot withdraw capital that is needed to underwrite an outstanding policy.

If a protocol is hacked, how much can I lose as an underwriter?

Any capital that is being used to underwrite a policy can be lost if a hack takes place on the protected protocol.

How do I see how many tickets I have earned?

Go to the stake tab and switch to the unstake view.
Last modified 5mo ago