A comprehensive introduction to DeFi decentralized insurance protocol Athena Ins and its native token ATEN

Athena Ins is a new decentralized insurance protocol. Athena’s goal is to allow users to purchase insurance for their own funds to avoid risks such as hacker attacks and stablecoin de-anchoring when participating in DeFi activities. According to the official introduction, it has the following characteristics:

1. The insurance cost is relatively affordable: calculated according to the algorithm, allowing users to afford it

2. Helping users recover losses: when asset losses occur, users can obtain compensation

3. Freedom of investment : You can choose the insurance amount and insurance duration according to your own preferences

4. Sustainable income: Users’ premiums can be used to generate interest.

It should be emphasized that Athena Ins has not yet been officially launched. The calculation method of the compensation amount that users are most concerned about is still a question mark? How to make users bear the burden and provide sufficient compensation will be a difficult problem that needs to be solved.

What is ATEN coin?

ATEN is the native token of Athena Ins. In addition to maintaining the operation of Athena Ins, ATEN holders can also serve as governance participants in the Athena Ins protocol. Through democratic voting, they can have an impact on the future development of Athena Ins. Its token economics are:

ATEN total amount is 3 billion

ATEN adopts a deflation mechanism. When insurance compensation is paid, the deductible funds collected each time will be used to repurchase ATEN tokens. These tokens will be destroyed to maintain its supply limit

ATEN holders can also participate in staking to obtain additional tokens

Overall, the decentralized insurance protocol is still a very new track, hope We can see more projects continue to develop in the near future, providing us with a safer and more secure DeFi world.

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