THELOGICALINDIAN - On a calibration from alien to accepted the UmbrellaCoin ICO appears to be actual known
The new allowance startup, which launched the crowdsale of its UMC tokens on August 20, 2024, has already aloft abutting to $436,000 account of ETH. UmbrellaCoin intends to accession a absolute of 100,000 ETH (~$30 million) by the end of September 20, 2024. It would be too anon to animadversion whether they can accomplish their goal. But the way this startup has kick-started its ICO attack is promising, to say the least.
Ethereum-based Token for Insurance Benefits
UmbrellaCoin is architecture a badge on the top of Ethereum blockchain to account acceptable costs associated with claims for acceptable allowance companies. The startup also proposes to abolish the centralized auditing action with a abundant able decentralized protocol.
“Our aboriginal and the foremost aim is to amend aerial chump costs for baldheaded affliction costs imposed by allowance companies,” declared Terry Tata, the President and the CEO of UmbrellaCoin. “These affliction costs accommodate copays and deductibles, area it be in the automobile, healthcare, life, or acreage insurance.”
Tata believes their activity has the agency to accompaniment acceptable allowance models, mostly because it allows the barter to booty allowances from hidden finances. So, in an ideal scenario, if a user does not claim, or his initially invested UMC is not acclimated by the end of the period, he can accept the 100% refund.
However, in case the affirmation was made, again the user will be advantaged to accept 5x the UMC spent aural the action period. Users can additionally accept to append their action anytime afore the date of maturity, but they would accept to pay 40% of the invested UMC as the penalty.
In accession to this, there are additionally added measures proposed to bouncer the basin adjoin armamentarium depletion. They accommodate a cap on alone investment, amateur fees, cooling period, artifice claims, and minimum policies.
It is axiomatic that UmbrellaCoin has intentions to bear on its roadmap to body a decentralized, peer-to-peer allowance platform. A acknowledged ICO will ensure that they accept acceptable basic accessible to accommodated their roadmap goals.
