How to Buy Insurance
Benefits of Having Asset Insurance on Sentrafy
As the DeFi industry continues to grow, the risk of encountering scam tokens and rug pulls also increases. One of the best ways to protect your investment and reduce risk when dealing with volatile assets is to purchase coverage on Sentrafy
Factors to Consider when Buying Insurance
Before purchasing asset coverage on Sentrafy, consider the following factors:
Duration: Decide how long you need to be covered. Our coverage terms range from 7 to 365 days.
Payment denomination: Choose the ideal payment denomination that works for you.
Payment currency: Decide whether to pay for coverage using USDT or STY. Claims will be paid out in the same currency used to purchase the coverage.
NOTE: In the event of a claim being approved, it may take up to 48 hours for the payment to be processed and sent to you.
Purchasing Insurance on Sentrafy
To purchase coverage on Sentrafy, follow these steps:
By ensuring your assets are on Sentrafy, you can have peace of mind knowing that your investments are protected and that you can mitigate the risks associated with volatile assets.
Enter the token address for the asset you wish to insure.
Specify the insurance amount, duration, and currency (STY or USDT).
Create a quote.
Approve the transaction using your Meta Mask wallet or another supported wallet.
After purchasing insurance, the full amount of STY will be deposited into the Sentrafy Treasury, with 50% of the STY reserved for insurance available for staking.
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