From Buy Cover
Nami Insurance provides users with effective digital asset protection solutions through easy-to-open and managed insurance contracts. Here's a step-by-step guide on how to open an insurance contract.
Step 1: Access the Nami Exchange app on your mobile device, now available on the Apple Store and Google Play Store.
Download links:
iOS: https://apps.apple.com/app/id1480302334
Android: https://play.google.com/store/apps/details?id=com.namicorp.exchange
Sign up/Log in to your Nami Exchange account. For detailed instructions, please refer here.
Step 2: Access Nami Insurance on the Nami Exchange app
Select the "Nami Insurance" section on the Nami Exchange home screen.
Step 3: Choose insured asset
Select the asset pair you want to insure. Nami Insurance offers asset pairs with 2 types of stable coins: USDT and VNST
Step 4: Complete Insurance contract information
Expectation
A Bull insurance contract will payback when the asset price increases, and a Bear insurance contract will payback when the asset price decreases.
Period
Users can choose from 17 different periods (1H, 4H, 12H, 1 day up to 14 days).
Insurance plan
In the "Contract Information" section, under the "Insurance Plan" item, click on the display unit and choose the plan that meets your requirements.
Insurance Plan | Insured Value | Margin |
Standard | 5 USDT to 2000 USDT (125,000 VNST to 50,000,000 VNST) | 0.5 USDT to 200 USDT ( 12.500 VNST to 5.000.000 VNST) |
Enhanced | 2000 USDT to 5000 USDT (50,000,000 VNST to 125,000,000 VNST)
| 200 USDT to 500 USDT (5.000.000 VNST to 12.500.000 VNST) |
Premium | 5000 USDT or 10000 USDT ( 125,000,000 VNST to 250,000,000 VNST)
| 500 USDT to 1.000 USDT ( 12.500.000 VNST to 50.000.000 VNST) |
Margin
Once you've chosen your insurance plan, the recommended margin amount will be displayed. You can also customize this amount by entering your preferred value.
P-Claim Insurance Paypack
Users can drag the percentage slider to select their desired P-Claim percentage within the specified P-Claim Min and P-Claim Max limits.
Alternatively, users can disable the percentage slider and directly input their desired P-Claim value (within the P-Claim Max and P-Claim Min limits).
Step 5: Review the information
After determining the appropriate P-Claim, users should review the expected Q-Claim and other parameters before making a final decision.
Step 6: Choose "Buy Now"
Note:
When users adjust the payback ratio upward, the Q-Claim also increases.
When increasing the insurance term, users will reduce the liquidation risk due to the expiration of the insurance contract but conversely, Q-Claim will be lower.
To maintain the ratio and margin value, users can select a suitable insurance plan.
The percentage on the chart represents the distance at a specific price (P-Claim, P-Refund, P-Expire) to the market price.
At this point, the Nami Insurance system will suggest to the user an insurance contract with the best period and payback level, along with specific parameters such as: Insurance plan, P-Claim, Q-Claim, Period, Margin.
However, based on individual needs, users can customize the input parameters. In this case, the system's algorithm will provide the corresponding remaining parameters. The parameters that users can customize include:
Note:
When the user adjusts the payback ratio upwards, the Q-Claim also increases.
By extending the insurance term, users can reduce the risk of liquidation due to contract expiration. However, the Q-Claim will be lower.
To maintain the same ratio and margin value, users can choose a suitable insurance plan.
The percentage on the chart represents the distance of a specific price level (P-Claim, P-Refund, P-Expire) from the market price.
The percentage value at P-Expire on the chart represents the distance from P-Expire to P-Market.
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