protect.it
Where Risk meets Collective Intelligence.
The first truly decentralized smart contract
insurance protocol, ruled by the market.
Decentralized
Community-powered insurance system.
Transparent
On-chain data and staking pools visible to all.
Prediction-Based
Risk evaluated by collective market sentiment.
how it works
protect.it turns DeFi insurance into a prediction market. Instead of traditional insurance companies deciding coverage and pricing, the community does it through smart contracts.
Here's how it works: You can either buy insurance against a protocol getting hacked, or bet that it won't get hacked. If you're right, you get paid. If you're wrong, you lose your stake.
The magic happens when thousands of people participate - their collective wisdom creates accurate pricing for risk. No insurance company needed. No paperwork. Just transparent, community-driven protection that pays out automatically when hacks happen.
For the Technical Minds
Protocol Architecture: Each insurance market is a dual-token prediction market deployed as an ERC-20 pair (YES/NO tokens) with an automated market maker (AMM) for price discovery. Users mint position tokens by depositing USDC, with token prices reflecting real-time probability assessments of exploit events.
Oracle Integration: Hack confirmations are handled through a decentralized oracle system that monitors protocol treasuries, governance announcements, and verified exploit reports. Upon consensus, markets resolve automatically with proportional USDC payouts to winning token holders.
Economic Model: The system leverages prediction market efficiency to price tail risks more accurately than traditional actuarial models. Market participants are incentivized to research and price risk correctly, creating a self-regulating insurance ecosystem with no central authority or underwriting requirements.