INS3 is the world’s first completely decentralized insurance. Users and oracle nodes jointly decide the market, assets, and the deposit/withdrawal condition of centralized exchanges through the independently built claim oracle. Thereby abandoned the process of voting on governance tokens to determine whether to reimburse or not and minimized the governance of the system.

INS3 - an original insurance project, with an innovation model of "DeFi + NFT + oracle + cross-chain". INS3 has two insurance modes, one of which is more like today's commercial insurance companies with some of the features of CDS. In terms of capital structure, insurance shareholders make capital contributions to bear the solvency risk and obtain cover price income. In addition, the insurance policy of Ins3.finance can be transferred, which has the tradable characteristics of CDS;

To put it simply, commercial insurance is more like a bet on whether or not an accident with a low probability of risk occurs with the cover price paid by customers and cover amount compensated by insurance companies. Due to a large amount of compensation for accidents with low probability risk, the insurance companies need to prove that they have solvency after the risk accident, which is the concept of solvency capital.