What makes DeFi platforms unique is that the driving force behind them that makes them thrive has a direct link to their communities. We believe that any DeFi platform that doesn’t hear out their communities is bound to fail, bringing us to DAOs.
The concept of Decentralized Autonomous Organizations (DAO) has emerged to automate decisions and facilitate cryptocurrency transactions. It later developed into a community-led decentralized entity for voting and joint decision-making.
In that regard, we are delighted to join forces with Represent DAO- a decentralized governance platform, allowing communities to vote on decisions taken by organizations and platforms.
CoverCompared x Represent
This collaboration will benefit the users of both parties. By joining hands with Represent, we are employing a more democratic approach and hoping to meet our community’s requirements faster and with more accuracy.
Through our collaboration, we will gain access to Represent’s DAO system where our users can anonymously vote for governance-related decisions CoverCompared considers. Below is the full list of Represent’s services we will be able to utilize:
- Geographical land-based voting: A unique petition/voting protocol formulated by smart contracts allowing for fast, secure, and anonymous Majority Voice Protection (MVP) and immutable data tabulation for each and every vote/election.
- Organizational Voting: Enabling the creation of a unique voting token across our platform to get our community responses immediately to increase efficiency.
- Crypto Voting: One to One DAO Voting for an egalitarian and decentralized community-led governance.
Following this collaboration, users will be given voting rights for CoverCompared’s future plans. Since the votes will be registered anonymously, the identity of the user will be protected as per the standards of the DeFi world.
Represent users, on the other hand, will be granted a special discount code, allowing them to purchase insurance coverages from our marketplace at a discounted rate of 5% when using the code RPT. Combined with the gasless policy purchasing feature CoverCompared is offering, the discount code will allow Represent users to access a wide variety of insurance policies at significantly lower prices.
CoverCompared is the First DeFi insurance marketplace for the global crypto ecosystem. We aim to lower transactional and administrative costs of insurance policies and coverage while providing high-value, cost-effective insurance products bought using a host of cryptocurrencies.
Our platform will be connecting users with multinational insurance providers for all global insurance products such as crypto-related protection, health, life, and travel policies. The platform will include a frictionless insurance marketplace experience that incorporates next-generation blockchain technology and tokenized incentives.
About Represent DAO
Represent is a Governance Protocol allowing for instant, secure, efficient, and transparent voting for organizations, corporations, unions, cryptocurrency, or geographical areas. Any participant or member of entities listed above can utilize the decentralized governance platform to immediately increase societal sovereignty.