What does yinsure insure?

When you go to yinsure.finance it looks like you can insure against a smart contract. It doesn’t say what the insurance cover anywhere, so it’s hard to tell. What I read from this thread is that the LPs basically vote for what claims will be approved, still it would be good to have some kind of ground rules for what is covered in the insurance.

Assume that I’m locking up a certain amount of eth in the yEth vault. According to this tweet

The yEth vault is using three constructs, curve maker and yearn. So if I choose to only insure against the yearn contract and something goes wrong with the yETH vault for curve or maker I’m guessing that the insurance wouldn’t cover that? That isn’t immediately obvious though.

So that brings me to another point, to me it would make more sense to insure a vault than the contracts per se, it would be far less ambigious.


Great questions. I’d also like to know more about how insurance works for the yETH vault

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I would definitely be a fan of Vault insurance which bundles the underlying protocols for a slight convenience fee, as you’re right it isn’t clear to the every day user.

@uhmpeps any shot this can be included in the v2 prospective frontend mockups? :wink:

As for convenience does anyone know how to best go about something like this? One could always just abstract away the three purchases but I’m keen on…one representation? I’m not too sure how this would work so just throwing ideas out here but an NFT that…holds other NFTs? (Yo dawg I heard you like NFTs)

Yes…theres definitely more opportunities for packaging the insurance products via NFTs to create various bundled insurance products for vaults.