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Create contracts on demand
Besides the Calculator that suggests contracts based on Available Assets or Positions, users can also use the “Buy Insurance” feature to set up a contract to insure any type of property on Nami Insurance.
Assume that user A predicts that the STG token will increase, so he wants to buy insurance for the STG token with the following parameters:
Order Type: Long
Q-Cover: 8000 STG
P-Claim: 1.0108 USDT
Period: 1 day
Margin: 200 USDT
- At this time, the NAMI Insurance system automatically pays $429 worth of insurance (including $200 of insurance margin) to the user's wallet.
Actual P&L: 429 - 200 = 229 USDT
- In this case, there will be 2 situations: When eligible to stop the contract before maturity, user A who chooses to stop the insurance contract will receive a Q-Refund corresponding to the margin value of $200
- At the time of contract termination (T-Expire), P-Market is in the P-Refund to P-Claim zone, user A receives a Q-Refund corresponding to the margin value of $200
- In this case, there will be 2 situations: During contract validity, P-Market touches P-Expire
- At the end of the contract (T-Expire), P-Market is in the range from P-Refund to P-Expire
When 1 in 2 cases of liquidation occurs, the user's margin will not be refunded.