Rance Protocol - a decentralized insurance provider, offering long-term cryptocurrency holders insurance against significant fluctuations in the price of their assets. It is the first insurance protocol with cross-chain compatibility, allowing users to receive insurance when they purchase tokens.
Operation of Rance Protocol
Rance Protocol users will be able to convert their tokens into the liquidity they originally purchased after one year with a 50% insurance fee and after 2 years with a 25% insurance fee. The Rance protocol gives users the confidence to explore the world of DeFi and enjoy their staking and farming journey with peace of mind.
The project gives long-term holders the confidence that they can store their favorite coins without fear of major price fluctuations because they can always return the coins at the original rate they bought after their insurance package expires.
The protocol will be launched with three available types of insurance duration:
| for 6 months | 95% will be kept as protocol liquidity for users who decide to later sell their token after 6 months. 2.5% will go to the funds. 1.5% will be sent to a pool where users can stake a governance token and earn USDC. 1% will be sent to the team for marketing, partnerships and protocol launch. |
| for 1 year | Of 50% of the premium, received from each transaction for the 1-year plan. 45% will be kept as protocol liquidity for users who decide to later sell their token after 1 year. 2.5% will be used for buyouts from the market. 1.5% will go to a pool where users can stake RANCE and earn USDC. 1% will go to the marketing team. |
| for 2 years | Of the 25% premium, received from each transaction for the 2-year plan. 20% will be kept as protocol liquidity for users. 2.5% will be used for buyouts from the market. 1.5% will go to the pool. 1% will be sent to the team for marketing, partnerships and protocol launch. |
The protocol is cross-chain compatible and is currently deployed on 3 public networks. It is available on Polygon, BNB CHAIN and Cronos Chain.
Coins, available for insurance
With cross chain compatibility, the protocol can use popular coins such as BTC, ETH, MATIC, MMF, CRO, BNB, ADA, DOGE, XRP, LTC, DOT, LINK, CAKE, TRX, UNI, SUSHI, AXS & TWT. While RANCE and other coins will be approved much later. The availability of coins depends on the chain and the best place to get high liquidity for that particular coin.
Project token
$ RANCE token - the Rance protocol control token, it will be used exclusively for the early termination of the insurance package. $RANCE holders will get the opportunity to share revenue with the team (1.5% of the insurance premium) by stake their token to earn a stablecoin, as well as a regular $RANCE stake to earn $RANCE. It will also be a governance token, used to identify coins, that can be added to insure the protocol in the future.
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