Why Ascent?
Where there are risks, insurance protocols can be helpful
Ascent is a DeFi insurance system. We aim to create an ecosystem to distribute the risks, where premiums are determined by a Dynamic Pricing Model. Capital required to back the risks at any point of time will be based on the market pricing of $ASCENT tokens and community demand. Decentralized support system will be established to diligently process all the insurance claims and implement the layers of our voting system to make sure any false claims are flagged and only valid claims are fulfilled.
FAST TRANSACTIONS AND DYNAMIC PREMIUMS
Dynamic Pricing model is used to calculate the insurance premium. Ascent token is running on Binance Smart Chain, transactions close in less than 30 seconds. Transaction fees on binance smart chain are near zero (as in Mar 30 2021, Transaction fee is equal to 0.009 usd) , the speed and cheapness and security of binance smart chain make it a great candidate for new services and new members.
In traditional financial market , derivatives such as options has been shown as effective in hedging the risks of market volatility. But the market lack transparency and better infrastructure to improve efficiency. Considering that assets with high liquidity were eligible to be designed as options products, “The Options” became a unique tool to serve commodity traders.
With DeFi’s infrastructure, anyone has right to price an asset on SWAP with unlimited liquidity. What makes us thinking is that if there’s a tool or a platform where a crypto trader or holder could simply issue an advanced ‘price based insurance’ which could hedge price fluctuation and get rewards at the same time. Such things could help DeFi users and traders to reasonably evaluate their holding and risks.
We expect a picture that anyone in DeFi world, instead of centralized institutions, could create hedging tool for others at any time.
It’s time to redefine ”Option”.
Roadmap Summary
As you can see our roadmap in the picture above we will start our crowdsale for part of our token in near future , after crowdsale you can use our token in Pancakeswap or 1Inch and start using our website application for insurance offerings and smart contract options. in the meantime new insurance options will be added to our web app.
